Search Results for: accountancy

BY RAGHAVENDRA VERMA

INDIA’S notorious Satyam Computer Services scandal has taken a turn for the worse, with the country’s Central Bureau of Investigation (CBI) laying new charges against 10 defendants regarding fake invoices, inflated revenues, unauthorised loans and attempted cover ups.…

BY LEE ADENDORFF

RECYCLING in Italy, as in most of Europe, has ceased to be simply a form of waste disposal and has evolved into a fundamental part of the industrial grid. The sector has provided over 76,000 jobs over the last 10 years in Italy, growing by an average of 5% year-on-year to be worth around 3% of the country’s GDP today.…

BY RAGHAVENDRA VERMA

A STREET in India’s capital Delhi has been named ‘Chartered Accountants’ Lane’ to recognise that its area is home to majority of the city’s chartered accountancy students and the offices of around 5,000 qualified accountants. An Indian accounting quarter in Delhi has emerged in east Delhi because accountants have wanted to work near a cluster of important institutions such as the income tax department of the finance ministry, company registration offices, the Delhi sales tax office and the Institute of Chartered Accountants of India itself.…

BY RUSSELL BERMAN

AMERICA’S Public Company Accounting Oversight Board (PCAOB) could be altered or even scrapped entirely after the US Supreme Court agreed to consider a lawsuit challenging the constitutionality of the 2002 law that created it.

As the highest judicial authority on the country, the Supreme Court’s announcement on May 18 that it would hear a case this autumn brought against the Sarbanes-Oxley Act of 2002 has caused a major stir.…

BY KEITH NUTHALL

THE UK government is being threatened with legal action by the European Commission for failing to comply with legislation forcing companies receiving public subsidies to account separately for that part of their work. The law is the transparency directive (2005/81/EC) – supposed to have been written into the Statute Book by December 2006.…

BY ALAN OSBORN

WHILE few accountancy bodies are yet prepared to formally comment on President Barack Obama’s sweeping plans for reforming US financial regulation, there can be little doubt that if the proposals become law the repercussions will be felt throughout the international accounting world.…

BY RAGHAVENDRA VERMA

THE AUDITORS caught up in India’s Satyam scandal have been charged with the offence of luring investors to buy shares of the company by "knowingly certifying forged and inflated balance sheets".

These crimes alleged against PricewaterhouseCoopers’ Subramani Gopalakrishnan and Talluri Srinivas have been detailed in a written submission by the Central Bureau of Investigation (CBI) of India made to the High Court in the state of Andhra Pradesh.…

BY RAGHAVENDRA VERMA

PricewaterhouseCoopers is standing by its partners who have been caught up in India’s Satyam Computer Services scandal, despite them being formally charged by India’s Central Bureau of Investigation (CBI). In a statement released today, Price Waterhouse India (the company’s name in India) said it was "disappointed" that the two partners who worked on the audit of Satyam’s financial statements have again been denied bail.…

BY MARK GODFREY

The new planned G20 rules on financial stability and accounting will have less impact on mainland China than they will on Hong Kong, said Robert Agnew, CEO of Matrix Services, a consultancy advising financial firms on pan-China deals: "Mainland China has gotten its accountancy rules into line with global norms, and it now uses a limited form of fair value accounting.…

BY DAVID HAWORTH

THE NEW secretary general of the European Union (EU) financial watchdog, European Court of Auditors, does not have much on the job training to do.

When Eduardo Ruiz García took up his new posting on March 16 he had already served as a Court official for 20 years and now at 48 he has, in effect, dedicated his professional life to the well-being and improvement of the institution.…