Former CCIT Dave exits KPMG, Will advice income tax department in Vodafone case
Jul 13, 2010 Income Tax
A former chief commissioner of the income-tax department, who was instrumental in preparing the revenue department’s case for levying a tax on the $11-billion Vodafone-Hutch Essar deal, has resigned from professional services firm KPMG that has Vodafone as its client. Girish Dave, the former chief commissioner, had joined KPMG after his retirement, a move that was looked at askance by the higher echelons of the Indian Revenue Service.
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Tags: former chief commissioner of the income-tax, Girish Dave, KPMG, Vodafone
Corporate affair ministry will initiate talks with commerce ministry and RBI to allow global audit firms
Jun 8, 2010 Audit
The corporate affairs ministry will initiate talks with the commerce ministry and RBI to allow global audit firms like KPMG, Deloitte, Ernst & Young and PriceWaterhouseCoopers to open shops in the country. “This matter is not for us alone (to decide), it is a matter which involves the RBI as also the commerce ministry
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Tags: commerce ministry, corporate affairs ministry, DELOITTE, Ernst & Young, global audit firms, KPMG, pricewaterhousecoopers, RBI
You’ll Just Have to Live with the Big 4 Whether You Like It or Not
Jun 5, 2010 Audit
Quote of the Day
Memo to the World: You’ll Just Have to Live with the Big 4 Whether You Like It or Not
“There are plenty of industries where there are four big players. The world just has to get on with it.”
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Tags: Big 4, KPMG, Quote of the Day
PricewaterhouseCoopers improved it’s commend on FTSE 100 companies
Jun 4, 2010 Audit
PricewaterhouseCoopers has improved its commend of FTSE100 audit clients increasing its share of the top flight to 41 in the second quarter of this year. According to the Hemscott adviser rankings PwC remains the biggest auditor among Blue Chips though overall KPMG has improved its position among to maintain the firm’s lead in having the most audit clients among listed companies.
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Tags: BDO, DELOITTE, Ernst & Young, FTSE100, Grant Thornton, Hemscott adviser, KPMG, PWC
ICAI asked local audit firms to furnish details of tie-ups with MNCs to check surrogate practices
Apr 20, 2010 ICAI
Tightening the noose around the audit companies having arrangements with global firms, the accounting regulator ICAI has sought details of their tie-ups with MNCs to check surrogate practices. The decision to seek tie-up details from CA firms, especially those associated with the Big 4– PWC, Ernst & Young, KPMG and Deloitte–follows a report by an Institute of Chartered Accountants of India (ICAI) committee on the multi-crore Satyam scam.
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Tags: DELOITTE, Ernst & Young, KPMG, PWC
Tax planning to be done once Exempt Gratuity Limit Increase to 10 Lakh
Mar 11, 2010 Income Tax
With the government raising the gratuity limit, it makes sense to negotiate for a higher basic salary to ensure a better payout. The Union cabinet’s decision to raise the tax-free gratuity limit from Rs 3.5 lakh to Rs 10 lakh is likely to become a tool for companies to retain employees.
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Audit Firms started hiring Chartered Accountants directly at CA Coaching Classes
Mar 6, 2010 Chartered Accountant
At Ahmedabad-Based Fountainhead, a little-known coaching academy for chartered accountants, February 20 was a day of celebration. The two-year-old chartered accountants’ training institute was playing host to a recruiting team from global consulting firm Ernst & Young (E&Y), rated among the world’s top four.
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Tags: bank of india, E&Y, GMR group, icici bank, itc, KPMG, L&T, morgan stanley, Nestle, NMDC, PWC, sbi, UTI AMC, Vedanta, Vidhya Sagar Career Institute, Wipro
Fewer students are passing the CA final exams, why?
Feb 18, 2010 ICAI
The low pass percentage in the latest CA final exams is causing the supply of good chartered accountants to stay low. Call it a result of the economic downturn, the Satyam effect or simply turning off the tap by the Institute of Chartered Accountants of India (ICAI). The Chartered Accountancy final examination results touched a record low in the November 2009 attempt.
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Tags: CA Exams, DELOITTE, Ernst & Young, final examination, KPMG, pass percentage, pricewaterhousecoopers
ICAI will propose time line to dispose of the complaints that arise against its members
Feb 15, 2010 ICAI
The Institute of Chartered Accountants of India (ICAI), the apex regulator of accountancy profession in the country, will propose a time line to dispose of the complaints that arise against its members. The institute had recently recommended disciplinary action against two of its member chartered accountants after they were charged with professional misconduct while conducting the audit of Global Trust Bank for the year 2000-01.
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Tags: deloitte touche, Ernst & Young, global trust bank, KPMG, pricewaterhousecoopers
Big four in race to grab the consultant’s job for the Unique Identification Authority of India’s UID project
Feb 2, 2010 Chartered Accountant
The Big Four – KPMG, Deloitte, Ernst and Young and PricewaterhouseCoopers – are in a fray for snapping up the consultant’s job for the Unique Identification Authority of India’s UID project. These four have cleared the first two rounds of evaluation to reach the technical evaluation stage along with three other companies which include Booz & Allen, PA Consulting and Capgemini.
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Tags: Booz & Allen, Capgemini, DELOITTE, Ernst and Young, KPMG, PA Consulting, pricewaterhousecoopers, UID