Page 5 - Kpmg

Audit companies exploring digital options to clear lockdown hurdle

While many companies are sharing documents digitally, some have also opened their servers to auditors to access the data they require

UP steps up efforts to reach out to 74 global firms looking to exit China

European Business Group hails covid-19-induced labour reforms in UP; state goes online to connect with five nations and companies like Microsoft, Dow and IBM and showcase investment opportunities

Bombay HC quashes criminal charges against ex-IFIN auditor Deloitte & KPMG

Grants govt eight weeks' time to appeal in Supreme Court despite opposition from the auditor's lawyers

Answers to the Strategist Quiz #659

Answers to the Strategist Quiz #659

Coronavirus unties the wedding business knot amid lockdown extension

At stake is the livelihood of millions of gig workers who provide wedding-related services - jewellers, designers, tailors, caterers, pavilion and tent providers and so on

Weak economy, lower consumption to dent ad spends in media: KPMG report

OTT, along with online gaming, are emerging out to be winners in the crisis, it said

India's growth may slip below 3% in FY21 if coronavirus proliferates: KPMG

The KPMG report presented three scenarios to explain the economic effects of COVID--19

Businesses likely to face challenges in preparing financial reports in FY21

The spillover of compliance requirements from FY20 to FY21 makes experts wary of the ripple effect on business financials

Anti-profiteering body orders probe into all theatres owned by Devgn's firm

The NAA also directed that a show cause notice be served on the company seeking an explanation as to why penalty should not be imposed on it

IL&FS case: NCLAT rejects Deloitte, KPMG auditors plea against impleadment

The NCLAT on Wednesday dismissed the pleas of auditors of debt-ridden IL&FS -- Deloitte Haskins & Sells and KPMG arm BSR & Associates -- along with independent directors challenging their impleadment in the case of alleged fraud at a group firm IFIN. A two-member bench of the NCLAT upheld the directions of the Mumbai bench of the National Company Law Tribunal, saying it can not be termed as "illegal". The NCLT had directed them to implead the auditors and independent directors as party. The NCLT is empowered to pass order to implead them under Section 242 of the Companies Act, 2013 in a petition under Section 241(2) if "it forms opinion that the affairs of the company have been conducted in a manner prejudicial to the public interest", the appellate tribunal further said. "Once such opinion is formed by the Tribunal, it may pass any order as it deem fit and proper,"said the National Company Law Appellate Tribunal (NCLAT) bench headed by Chairperson Justice S J ...

NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS case

The National Company Law Appellate Tribunal (NCLAT) on Wednesday dismissed the pleas of debt-ridden IL&FS auditors -- Deloitte Haskins & Sells and KPMG arm BSR & Associates -- challenging their impleadment in the case involving alleged fraud in IFIN, a subsidiary of IL&FS. A two-member NCLAT bench led by Chairman Justice S J Mukhopadhaya dismissed the pleas of auditors and other independent directors. The appellate tribunal, however, granted a relief to both auditors and other independent directors by allowing the operation of its earlier interim order passed on July 29, 2019 for two weeks. On July 29, the NCLAT stayed the order of the Mumbai bench of the National Company Law Tribunal (NCLT) to implead the auditors and the independent directors of IL&FS. Earlier on July 23, the NCLT had allowed the plea of the Ministry of Corporate Affairs (MCA) to implead the auditors and independent directors of IFIN. "On the request of the counsel, we allow (that) interim order .

CSR shows steady improvement in past five years: KPMG

India Inc's trend on CSR expenditure clearly indicates their willingness to contribute towards nation-building: KPMG

Hindustan Coca-Cola appoints Melvin Tan as new chief financial officer

Announcing the appointment, Ruggiero said, Tan brings in the best practices of the global Coca-Cola system, along with his strong background in accounting and financial management.

IL&FS case: NCLAT reserves order over NCLT jurisdiction to implead auditors

Hearing a plea by Deloitte Haskins and Sells and KPMG arm BSR & Associates, the NCLAT on Friday reserved its order on the NCLT's jurisdiction over impleadment of auditors in the case involving alleged fraud in IFIN, a subsidiary of IL&FS. The two-member bench led by Chairman Justice S J Mukhopadhaya also sought a written submission from the Ministry of Corporate Affairs by Tuesday, to determine whether the NCLT has jurisdiction to initiate civil proceedings against any party. The Ministry of Corporate Affairs (MCA) had asked the National Company Law Tribunal (NCLT) to freeze the assets of the former auditors in the case involving alleged fraud in IFIN, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS). Arguing for the government, a counsel said that impleadment is being sought to explain the conduct by auditors. He said all those persons who have been impleaded are directly attached with the affairs or the management of affairs of the company and ...

S P Jain Global bags 50% international offers, top offer at Rs 45 lakh

Consulting emerges as top recruiting sector, with 24% placement offers, followed by logistics & supply chain at 17%, and IT at 16%

DHFL crisis: Banks stare at huge provision burden if fraud is established

KPMG did a forensic audit on DHFL. Its draft report has startling findings and says DHFL could have diverted funds to promoter-led entities

KPMG forensic audit finds fund diversion from DHFL to promoter-led entities

The forensic audit report said DHFL could not provide a robust and well-defined tracking mechanism for end-use of funds disbursed by the company

As OTT players gain popularity, advertisers want a spot in their screen

With more than 30 over-the-top players, the country has the second-highest per capita consumption of online video in the world, says KPMG

Hong Kong protests force companies to choose: Their employees or China

Employers early on supported their workers' desire to protest but have started to shift under pressure from Beijing

Half of Indian realtors are unprepared for tech innovations: Report

A latest report by KPMG and industry body NAREDCO has projected the sector to grow to equal 15% of India's gross domestic product by 2030 from the current 7%