Pwc

IndusInd Bank up 13% in 3 days as PwC pegs lower impact in derivative biz

With the estimates by the external agency in-line with the management's announcement, it is expected to restrict any major downside, ICICI Securities said.

Haldiram's attracts two more investors Alpha Wave, IHC after Temasek

This development comes weeks after Singapore-based investment firm Temasek acquired a 10 per cent stake in the company for approximately $1 billion

Haldirams to sell 10% stake to Temasek in deal valuing firm at $10 bn

Haldirams is also in advanced-stage talks to sell another 5-6 per cent stake for around $500 million

PwC may submit report on IndusInd's accounting discrepancies on Mar 28

External auditor PwC is likely to submit its report to IndusInd Bank's board on Friday regarding accounting discrepancies in its derivatives portfolio, sources said. As per an estimate, Rs 2,100 crore discrepancy in accounting may impact 2.35 per cent of the bank's net worth. The comprehensive report by PwC is expected to point out actual loss to the bank due to accounting discrepancies, lapses at various levels and remedial action, sources said. Banking sector regulator, Reserve Bank had directed the board and the management of IndusInd Bank to take remedial action during the current quarter itself after making required disclosures to all stakeholders. The current quarter comes to an end on March 31. Meanwhile, the IndusInd Bank's board has also hired Grant Thornton to conduct a forensic audit into accounting lapses. As per the mandate, Grant Thornton would conduct a comprehensive investigation to identify the root cause of the discrepancies and assess the correctness and impact

PwC India launches programme to mentor 15 startups in blockchain, AI

PwC India has announced the launch of its first-ever startup accelerator programme 'Emerging Tech Startup Challenge' geared to empower startups in the emerging technology space to refine their solutions and bolster market penetration. The accelerator programme is aimed at driving innovation and supporting India's vibrant startup ecosystem by providing mentorship, consulting expertise, and strategic guidance. Announcing the launch of 'Emerging Tech Startup Challenge', PwC India said the programme is open to all India-based startups working across the areas of artificial intelligence (AI), data analytics, blockchain/Web 3.0, space tech, Industry 4.0, and spatial reality, among others. "We would be excited to see wide ranging innovations across industries in B2B/B2C segments, such as, retail and consumer, manufacturing, financial services, infrastructure, healthcare and telecom," it said. Over three months, 15 selected startups will benefit from access to mentorship from subject matte

Direct tax: Budget 2025-26 eases burden, boosts spending and growth

Proposals aim to encourage the middle class to spend and help economic growth. By Pwc India

Strengthening cybersecurity is critical to India's digital backbone: PwC

Small and medium-sized enterprises (SMEs) are particularly vulnerable to cyber hacking and frauds due to limited resources

One-third of organisations report data breaches costing over $1 mn in 3 yrs

While most firms have expanded their investment in GenAI, it has expanded their attack surface due to challenges in merging it with cybersecurity strategies

BS BFSI Summit: Why go to Mauritius, come to GIFT City, say fund managers

BS BFSI Summit: As GIFT City gains traction, panellists agreed it is well-positioned to become a key player in international finance, transforming India's role in the global financial landscape

PwC India collaborates with Meta to expand its open-source AI solutions

The consultancy firm stated that the collaboration would help PwC India and Meta "democratise" Generative AI (GenAI) and make it more accessible to businesses by jointly building

PwC making tangible investments for 'high quality' business in China

PwC Zhong Tian LLP was hit with a six-month suspension and a record fine of 441 million yuan ($62 million)

China hits PwC with six month ban in record penalty over Evergrande audit

Chinese authorities have been examining PwC's role in Evergrande's accounting practices since CSRC accused developer in March of a $78-billion fraud over a period of two years through 2020

PwC US to cut 1,800 jobs over restructuring, its first layoffs in 15 years

PwC's US unit will lay off around 1,800 workers, its first formal job cuts since 2009, as part of a restructuring process amid decreased demand for certain services, its US leader, Paul Griggs said

China property developer Country Garden makes PwC resign as auditor

PwC has been in focus over its role in auditing China Evergrande Group which was accused of a $78 billion fraud, triggering a client exodus, cost cuts and layoffs

China to impose six-month business ban on PwC over its Evergrande audit

PwC's China unit has already lost at least two-thirds of its accounting revenues from mainland-listed clients this year since its Evergrande audit failure

PwC expects Chinese govt to hand down six-month ban for Evergrande audit

PwC has been under the spotlight after China launched one of the biggest investigations of financial fraud in history

China Evergrande liquidators sue PwC for 'negligence', 'misrepresentation'

China Evergrande defaulted on more than $300 billion of its international debts in 2021, triggering a financial crisis within China's property sector

'Hit by client exits PwC asks China partners to take pay cut up to 50%'

Chinese authorities have been probing PwC's role in auditing China Evergrande Group after the securities regulator accused the troubled property developer in March of a $78-billion fraud

PwC recommends extension of beneficial tax regime for new manufacturing cos

Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs. Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23. "I think the Make in India is the first thing which comes to mind, and you will recall that in 2019, the government introduced a 15 per cent rate for new manufacturing companies, which lapsed on March 31, 2024. "I think that is one extension, which is being expected, and the expectation is also that instead of giving a year-on-year extension if we can look at the block period, say for the next five years because shifting a manufacturing is a big decision and the corporates may take time before making a decision and make it viable, feasible and that's the first bit," said Sandeep Puri, Partner, Price Waterhouse & Co LLP. Section 115BAB of the Income Tax Act offers a concessional tax rate of 15 .

From back offices to strategic hubs, GCCs in India shaping MNC operations

Gradually, leaders at India-based GCCs are gaining greater autonomy, influencing enterprise architecture and participating in budgeting, staffing, and other operational decisions