Audit Profession
Once Satyam, twice shy: Why auditors quitting big clients is complicated
The auditing community feels the burden of increased regulatory oversight, user expectations, and media activism
 "Once Satyam, twice shy: Why auditors quitting big clients is complicated")
Domestic audit firms eye global tie-ups to take on multinational rivals
The aim is to become globally more competitive by deploying stronger processes already being followed by the global audit firms in delivering audit mandates
 "Domestic audit firms eye global tie-ups to take on multinational rivals")
Audit profession needs independent regulator
The debate over an independent regulator for chartered accountants (CAs) has been rekindled by the Kotak panel report on corporate governance.The panel has recommended that the Quality Review Board (QRB) be strengthened to meet the independence criteria laid down by the International Forum of Independent Audit Regulators (IFIAR), an international body that comprises independent audit regulators of 52 jurisdictions. India is not yet a member of the IFIAR but the Institute of Chartered Accountants of India (ICAI) has maintained that the QRB has applied for IFIAR membership, Business Standard reported recently.Though several panels of wise men have arrived at such observations in the past, the professional body, which doubles as the regulator, has repeatedly voted for the status quo.This time too it has dissented. But, its case, standing on very weak legs, was further weakened by its own track record in punishing wrongdoers.Two cases that caused significant pain to the larger system and .
 "Audit profession needs independent regulator")
