Audit Report News

Airline says its audit committee has reviewed and approved the transactions for FY19IndiGo will seek approval from IGE Group to nominate five directors, and Gangwal’s approval to nominate one director

Trusts also have to disclose details about their beneficial ownersTax relief is available to trusts on the income used towards meeting their stated religious or charitable objectives subject to conditions specified in Income Tax Act

CAG's GST audit focuses on implementation of goods and services tax and not on GST collections since the tax reform came into effect on 1 July 2017

One of the main issues concerns the separation of the audit and consulting work that the top firms offer to the same companies

Fortis Hospitals used its own funds to repay itself

The RBI says it will take action against banks' statutory auditors in case of any lapses in their auditing process such as misstatement of a bank's financial statement or wrong information in audit report

BSE will charge Rs100 per day for non-submission of system audit report for the month of December and will withdraw trading facility from January

Corporate affairs ministry and the CBDT will share PAN of key managerial personnel in companies, ITRs, financial statements, audit reports and statements of financial transactions received from banks relating to businesses

Non-submission of the report within the cut-off period will attract penalty, BSE told the brokers

CAG also directed the Indian Railways to curtail the number of concessional passes it hands out to recover its operating cost