Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
"Many CEOs believe the country's manufacturing sector has become increasingly competitive and the economy is shifting away from its reliance on the services sector, a path that could take advantage of the broad spectrum of the nation's labour force."
The Andhra police have arrested two Price Waterhouse auditors- Gopalakrishna and T Srinivas- in connection with the financial irregularities case with Satyam Computer Services Ltd.
Tech start-ups will continue to take the lead in bolstering the regional economy, says Murali Talasila.
The entry of FIIs into currency futures would lead to very high volatility as has been witnessed in the equity market. Therefore, domestic corporates may stay away from participation.
Globally, the estimated average financial loss from cyber incidents was $2.7 million, a 34-per cent increase over 2013.
The German luxury automaker has already seen its online traffic increase 10-fold this year. Though that has not always translated into sales, Mercedes-Benz says it is continuing to build on what it calls its "touch-free" experience to stay plugged into its consumer base. Under the used car business, more than 150 cars were sold online in January and February.
KPMG's global board will meet in India next week
The complainant, C Anthony Lewis, has said that he had bought 500 shares of Satyam about three weeks prior to Raju admitting to manipulation in the company's accounts for showing higher profits, following which Satyam's share value dropped drastically.
Close to 13 crore Indians may suffer from lifestyle diseases like heart attacks and diabetes in the next few years, leaving a $160 billion hole in the national economy between 2010 and 2015.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as the Covid-19 lockdown that shut most businesses compounded tax collection woes in an already sluggish economy. Goods and Services Tax (GST) mop-up in March recorded a 8.4 per cent decline over March 2019 collection of Rs 1.06 lakh crore. The collections were lower on account of dip in revenues from domestic transactions as well as imports.
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
Satyam's chief financial officer Valdamani Srinivas on Thursday sent in his resignation, giving a blow to efforts to hold the top leadership team intact, even interim CEO Ram Mynampati said efforts were on to continue with the business as usual.
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman
Mumbai Monorail was to be built in two phases - Phase I of 8.93 km and Phase II of 11.20 km. The first phase ran operations for around three years before services were abruptly halted, owing to a fire incident last year. The second phase now stands completed, but is lying closed.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
The central government wants to impose the levy; many states are opposed - at least, to the Centre doing so
Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
Physical format stores are here to stay.
The extra skills you acquire set you apart, differentiate you from your peers and fast track your career.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
You can carry forward losses and revise the returns umpteen times in case of mistakes.
Currently, we are planning to construct one animation centre in Pune. We have asked PwC to prepare a detailed report for the same; it should be ready in the next four months.
Inflation is affecting consumer spending and advertisers say they will now spend only on media which gives them the highest measurable returns. TV, for instance, grabs the biggest ad pie due to its mass appeal and the ready availability of TRPs, used to assess its returns.
An early action to allow domestic banks to participate in the commodity markets would not only help in improving their competency but would also help in develop their trading and product development skills in commodity derivatives.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
The Supreme Court will decide whether a non-resident company is liable to pay advance tax on fee charged by it for providing services in India.
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. The state currently has about 300 small to big sized companies and employs 55,000.
'When a gift is received in cash, it is likely to be questioned, and your father may need to explain its source.'
The media and entertainment industry in 2007 grew by an estimated 17 per cent over the previous year to touch Rs 51,300 crore (Rs 513 billion), according to a recent Ficci-PwC 2008 report. However, this is 6 percentage points lower than the 23 per cent growth registered in 2006. All the major segments within the M&E industry, comprising TV, film and print, will see a year-on-year fall in their growth rates going by the report estimates for 2007.
Despite India becoming a new destination for global investors, 38 per cent of over 5,400 companies' representatives surveyed by the global consultancy firm PricewaterhouseCoopers said they were asked to pay bribes to get licences, orders over the past two years.Among the seven major emerging economies of the world, India is ahead of Turkey, Mexico and China, where 28, 28 and 21 per cent of firms in that order reported experience with bribery.
Jaitley has announced increasing the super-rich surcharge to 12%.
The government said that "in exercise of extraordinary powers in public interest, conferred by paragraph 19 of the DPCO, 2013", the ceiling prices of 21 key formulations had been increased. These formulations include common medicines like BCG vaccines, penicillin, malaria and leprosy medicines (Dapsone), life-saving drugs like Furosemide (used to treat fluid build-up due to heart failure, liver scarring, or kidney disease), vitamin C, some common antibiotics, and anti-allergy medicines.
