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New audit rules aimed at ensuring auditor independence: RBI

In April the banking regulator had issued new norms that tightened appointment of auditors and capped the numbers based on the asset size of the bank with an aim to prevent wide variations in asset classification and misleading accounts statements. ....

Reserve Bank , Big 4 , Audit Rules , New Audit Rules , இருப்பு வங்கி ,

Serba Dinamik hits limit down


hit limit down upon being requoted after two days of suspension as investors sold the stock on issues surrounding its past sales deals.
At the opening bell, the stock dived to RM1.13, down 30% or 48 sen.
Stocks linked to the engineering solutions provider for the oil and gas industry, namely, KPower Bhd and Sarawak Consolidated Industries Bhd
, were also lower by 13% and 19% to RM1.14 and 93.5 sen at the mid-day break.
Meanwhile, Reuters reported that the Securities Commission (SC) has commenced an investigation into Serba Dinamik after the company’s auditor flagged issues last week. The newswire said yesterday the regulator had secured documents and records from the company to assist its investigation. ....

Malaysia General , Kumpulan Wang Persaraan Diperbadankan , Serba Dinamik , Kpower Bhd , Datuk Abdul Kadier , Serba Dinamik Holdings Bhd , Securities Commission , Sarawak Consolidated Industries Bhd , Aminvestment Bank , Provident Fund , Serba Dinamik Holdings , Sarawak Consolidated Industries , Datuk Mohd Abdul Karim Abdullah , Datuk Abdul Kadier Sahib , Employees Provident Fund , Kumpulan Wang Persaraan , Corporate News , Limit Down , Mohd Abdul Karim , மலேசியா ஜநரல் , பத்திரங்கள் தரகு , சரவாக் தொகுக்கப்பட்டு தொழில்கள் ப்ட் , வருங்கால நிதி , சரவாக் தொகுக்கப்பட்டு தொழில்கள் , ஊழியர்கள் வருங்கால நிதி , பெருநிறுவன செய்தி ,

RBI's new norms for appointment of auditors will enhance audit quality; support joint audits, says ICAI

Concept of joint audit has worked very well: Amarjit Chopra, ex-president, ICAI


Concept of joint audit has worked very well: Amarjit Chopra, ex-president, ICAI
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Last Updated: May 25, 2021, 07:00 AM IST
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Synopsis
As per the new norms, there shall be joint audits in certain entities beyond a threshold. Can having two auditors or more instead of one impact the quality of audit? Certainly not. Having more than one opinion is always better, said Amarjit Chopra, past president of the Institute of Chartered Accountants of India.
Agencies
Amarjit Chopra, past president of the Institute of Chartered Accountants of India
The central bank’s recent norms governing the functioning of auditors at financial firms have drawn its share of opposition. But several other auditors have backed the new directives, arguing that the changes would simultaneously enhance oversight standards while breaking the dominance of a few. ....

Amarjit Chopra , Institute Of Chartered Accountants India , Chartered Accountants , Public Sector Banks , Public Sector Undertakings , Reserve Bank Of India , Aatmanirbhar Bharat , International Investors , Joint Audits , அமர்ஜித் சோப்ரா , நிறுவனம் ஆஃப் பட்டய கணக்காளர்கள் இந்தியா , பட்டய கணக்காளர்கள் , பொது துறை வங்கிகள் , இருப்பு வங்கி ஆஃப் இந்தியா , சர்வதேச முதலீட்டாளர்கள் , கூட்டு தணிக்கை ,