Global Auditors

The auditors at Big Five firms said the remuneration does not justify the risks, work stress, and investments in technology and talent

Comptroller and Auditor General of India (CAG) Girish Chandra Murmu has been elected as the Vice-Chair of the UN Panel of Auditors for the next year. This recognition underscores India's commitment to the highest standards of external audit and its active participation in shaping the global audit landscape, the CAG said in a statement. Murmu participated in the sixty-third session of the Panel of External Auditors, held at the United Nations Headquarters in New York on November 20-21, 2023. The Panel of external auditors comprising heads of 12 Supreme Audit Institutions (SAIs) globally, oversees the external audit of the UN Secretariat, funds and programmes, and specialised agencies. The independent body, including representatives from Canada, Chile, China, France, Germany, India, Indonesia, Italy, Philippines, Russia, Switzerland, and the United Kingdom, conducts financial, performance and compliance audits of UN entities. CAG said the annual meeting served as a unique platform f

Experts want the authority to set some limit on the time it would spend on on-site visits

How will EY's split shake up the sector?

EY is planning to split its audit and advisory businesses. It said that it was doing so to address regulatory concerns over potential conflicts of interest. Will this prompt others to follow suit?

Some prime slots are at best held by Indian arms of foreign firms with roots in Europe; govt itself favours the big four for mega advisory roles like disinvestment or asset monetisation

Auditors are under greater regulatory scrutiny than ever after a serious of high-profile lapses in recent years

The move is expected to give filip to Indian audit firms, designed to fill gaps big 4 have misused