Other Briefings
Detecting and Avoiding Fraud in India
For companies with operations in India, it is important to maintain an awareness of what constitutes fraud, and the fine line between fraud and error during an audit. Here, we outline common forms of fraud and review risk management protocols that can help enterprises avoid these pitfalls.
Ensuring a Smooth Audit in India: Key Considerations
With proper advice and some relevant knowledge of the local operating environment, foreign investors will find that India’s legal and financial operational procedures are not as complex as they may have initially thought.
IFRS Convergence: Audit Season in India
While accounting standards in India differ slightly from the International Financial Reporting Standards (IFRS), Indian Accounting Standards are likely to converge with the IFRS in the foreseeable future.
Understanding Annual Audit in India: An Overview
In an excerpt from India Briefing Magazine, we provide important tips for the smooth navigation of the country’s audit regulations and accounting standards.
ICAI Submits Revised IFRS Conversion Road Map Ahead of Annual Audit Season
India’s Institute of Chartered Accountants of India has recommended a new timeline for the convergence of Indian Accounting Standards with the International Financial Reporting Standards.
An Introduction to India’s Audit Process: New Issue of India Briefing Magazine
In this issue of India Briefing Magazine, we provide readers with an overview of India’s annual audit process and offer important tips for the smooth navigation of the country’s audit regulations and accounting standards.
Specified Domestic Transactions and Transfer Pricing Provisions in India
India’s Revenue Authorities have extended the applicability of Transfer Pricing provisions to specified local transactions executed between related parties. These provisions initially became effective on March 31, 2013 for transactions exceeding an aggregate value of INR 50 million (US$805,000).
India Increases Tax Audit Limit for Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) has increased the number of tax audit assignments for practicing chartered accountants from 45 to 60. The press release cites the ability for chartered accountants to provide professional, competent services in an IT-enabled environment as the reason for the increase.
