NEW COMPANIES BILL MEANS STRICTER REGULATIONS FOR INDIA AUDITORS
January 1st, 2013
INDIA's auditors have had a difficult time in the court of public opinion since the revelations of the USD1 billion Satyam Computer Services scandal. A new Companies Bill might change that – although it will also inflict some pain on India’s auditors. It will force them to accept some tough criminal penalties for dereliction of duty and at the same time face professional restrictions, which could reduce their income. The bill passed the Lok Sabha, the lower house of the country's parliament in December, and now awaits approval from the upper house (the Rajya ...
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