EY said it would continue to improve and provide a healthy workplace in its offices throughout the country.
South Indian filmmakers have kept their focus on the single-screen cinemagoer. They have kept their finger on the pulse of the single-screen cinema fan, who goes to movies once a month or more, to forget his weekly chores, explains Ambi Parameswaran.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
'The intensity and frequency of heatwaves will be much higher than in previous years over Punjab, Haryana, Rajasthan, Gujarat, Madhya Pradesh and Odisha.'
Currently, the NAPCC has eight active missions across sectors like water, energy, and agriculture, aimed at addressing climate change.
Nepal police used tear gas and water cannons to disperse pro-monarchy demonstrators who torched a house and tried to break security barricades in Kathmandu. The protesters chanted slogans demanding the restoration of the monarchy in Nepal. One person was injured in the clash.
'The testing and certification have been completed, and implementation could occur within a year, depending on the number of vehicles.'
India currently performs around 6,00,000 to 7,00,000 laser-assisted in situ keratomileusis (Lasik) and refractive procedures a year, and the uptake is accelerating.
Anna Sebastian Perayil, a Keralite who passed her CA exams in 2023, worked at EY Pune office for four months before she succumbed on July 21.
'The global median of whistle-blower complaints is 1.5 per cent of the total employees. India's reporting is far away from this average.'
Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival. As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
The auditor will also investigate into the circumstance under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated July 27, 2019, alleging harassment by the Income Tax department.
The UK's 697 projects created a 1.4 per cent rise in foreign direct investment jobs to 30,311.
The death of 26-year-old Anna Sebastian Perayil -- who worked on the audit and assurance team at EY Pune, due to 'overwork' her heartbroken mother noted in a letter to EY India chairman Rajiv Memani provoked best-selling author Rashmi Bansal to pen a poem on the perils of overwork in Corporate India.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
The US unit of PwC will lay off about 1,800 workers, marking its first formal job cuts since 2009 as the company seeks to restructure its technology group. This comes amid a slowdown in demand for some of its advisory business, according to a Wall Street Journal report. Half of the anticipated layoffs will target offshore positions, impacting a wide range of employees from associates to managing directors.
The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13.
Non-banking entities such as fintech firms will have to tap into use cases beyond peer-to-peer (P2P) and peer-to-merchant (P2M) transactions to scale up the presence of the retail version of the central bank digital currency (CBDC), which is also known as the e, said industry players. These use cases will enable programmable transactions across domains, including the government's direct benefit transfer (DBT) schemes, with subsidies restricted to specific purposes such as food coupons, hospital bills, fertilisers, pesticides, and cross-border remittances.
A tech architect must have certifications across ERP platforms (SAP, Oracle, Microsoft) and Cloud platforms (MS, Google, Low code SAAS platforms such as Salesforce, and ServiceNow).
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
Larsen & Toubro (L&T) chairman S N Subrahmanyan sparked an online outrage with his comments advocating a 90-hour work week and suggesting that employees should even give up Sundays.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
According to the EY Global Information Security survey, companies are lacking agility, budget and skills to mitigate known vulnerabilities
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
In a recent clarification, the Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.
The average Indian works 46.7 hours per week, surpassing even China's 46.1 hours. In some sectors, the numbers are even more staggering.
Link your UPI app to a separate bank account or wallet that has only a limited sum.
Using the debt-to-GDP ratio as a fiscal anchor aligns with efforts to promote fiscal transparency through proper disclosure of off-budget borrowings.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
Investments by private equity and venture capital funds declined by 35 per cent to $4.4 billion in April compared with $6.8 billion in the year-ago period, a report said on Thursday. The number of deals in April stood at 98, which was 56 per cent higher than the year-ago period, the report by EY, a consultancy firm, and industry lobby grouping IVCA said.
'It has also outlived its initial purpose of reducing physical gold imports.'
'In India, managers and the leadership almost glorify overworking.'
The Union government is expecting to rake in Rs 100-200 crore in additional revenue from Pillar Two, only under specific circumstances, a senior finance ministry official said requesting anonymity. It is proceeding cautiously, and is unlikely to implement rules anytime soon, the source said.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
