Home Highlights October 2019 Year 2019 This

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1. Format for annual secretarial audit report and annual secretarial compliance report for listed entities and their material subsidiaries

2. Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity

3. Prosecution proceedings against the Auditor of the company - The High Court has materially erred in holding that on resignation of auditors – BSR & Deloitte and on...

4. Reporting Entity - PMLA - List is getting bulky - More categories related to business included

5. PMLA - Reporting entity - Practicing CA, CS & CWA included in the list

6. Statutory Auditors’ Responsibilities in relation to Fraud in a Company - NAFRA issued certain guidelines.

7. The penalty with respect to failure to file resignation by auditor reduced to fifty thousand rupees or the remuneration of auditors whichever is less - Section 140(3) of...

8. Clandestine removal - shortages suggested by the statutory auditors - A case of clandestine removal can not be considered to be established based only upon the statutory...

9. Disciplinary enquiry by ICAI - statutory auditors of Satyam Computers Services Limited - Principles of natural justice - HC

10. Accrual of income in India - FTS - Existence of a PE - Determining income on presumptive basis attributable towards Permanent Establishment ("PE" ) - Tax Authorities...

11. Powers and duties of auditors and auditing standards - auditors shall have access to accounts and records associate companies along with subsidiary companies - Section...

12. Authority of statutory auditor to function in the company whose relative or partner is holding any security or interest of the company - The auditor directed to...

13. Statutory Auditor (Chartered Accountant), Cost Auditor or Secretarial Auditor has to report the fraud in the company in the prescribed manner. - Notification

14. Rejection of refund claim - Status of the Subsidiary as a Distinct Person - Export of software development services - The High Court examined the provisions of Section...

15. Violation of principles of natural justice - petitioner has been put under the "Denied Entity List" (DEL) - Rule 7 of the Foreign Trade (Regulation) Rules, 1993 makes it...