Archive for January, 2010
The Institute of Chartered Accountants of India (ICAI) Convocation (II) -2009
By admin at 29 January, 2010, 4:06 pm
The Southern Region of Institute of Chartered Accountants of India (SIRC) organized its Convocation on 24th January 2010 at Chennai. Shri S. Mallikarjun Kharge, Union Minister for Labour and Employment, Government of India, gave away Rank Certificates to the meritorious Chartered Accountants who passed the final exams. The President, ICAI, Uttam Prakash Agarwal. gave membership [...]
Read More >>Bill late , govt tallying local rules with global a/c norms
By admin at 28 January, 2010, 3:22 pm
The government will tweak existing rules rather than wait for a comprehensive law to get Parliament’s approval to quicken the transition towards a new global accounting standard that the country must embrace by next year.
Policymakers and regulators, such as the corporate affairs ministry, Reserve Bank of India (RBI) and Insurance Regulatory Authority of India (Irda), [...]
Arvind Singhal: Reinterpreting CSR
By admin at 28 January, 2010, 1:30 pm
As the Indian republic celebrates its 60th anniversary with pride and hope, this milestone should be a reason for all Indians to take a pause to reflect not only on the achievements of the past 60 years but also on what more needs to be done in the coming years to ensure that every Indian [...]
Read More >>Padma awardees Venu Srinivasan and Manoharan feel overwhelmed
By admin at 27 January, 2010, 2:31 pm
Two of the Padma Shri awardees belonging to the trade and industry category are from Tamil Nadu – Venu Srinivasan, chairman TVS Motor Company Ltd, and T.N. Manoharan, past president of Institute of Chartered Accountants of India (ICAI).
Both are overwhelmed by the honour.
“I am little bit overwhelmed as I did’nt expect the honour,” Venu Srinivasan, [...]
IFRS conversion: Taxing times ahead
By admin at 27 January, 2010, 2:23 pm
The increasing attractiveness of the European and Asian capital markets has prompted emerging economies like-Brazil , China, India, and Russia to converge their existing accounting standards to International Financial Reporting Standards (IFRS).
Over 100 countries have now adopted or permitted IFRS or have based their local Generally Accepted Accounting Principles (GAAP) on the principles of IFRS.
In [...]
Centre mulls whistle-blower policy in all PSUs
By admin at 27 January, 2010, 2:21 pm
The government wants all public sector enterprises (PSEs) to put in place a whistle-blower policy, as it seeks to improve their corporate governance standards ahead of possible listing on the stock exchanges. At present, only few PSUs, such ONGC and GAIL, have a policy to encourage employees to expose wrong-doing in their companies.
“To bring PSUs [...]
PSUs to get leeway in independent directors’ selection
By admin at 27 January, 2010, 2:19 pm
The government is considering a proposal to give more autonomy to state-owned companies in the selection of independent directors, as it prepares them for listing on the stock exchanges.
“The proposal intends to encourage better corporate governance among public sector undertakings (PSUs). Also, it will benefit all the PSUs looking for early listing,” said the DPE [...]
KPMG takes lead to help cos shift to IFRS
By admin at 24 January, 2010, 1:07 pm
As the ministry of corporate affairs asks India Inc to gear up their international financial reporting standards (IFRS) conversion process, various agencies have taken the lead in helping companies transit to the new standard. However, consulting firms are trying to cash in on the opportunity and the best of it. KPMG India has launched a [...]
Read More >>Global accounting respite for SMEs
By admin at 20 January, 2010, 12:36 pm
Small and medium enterprises (SMEs) in the country will not have to prepare their accounts as per the International Financial Reporting Standards (IFRS) from April 1, 2011, saving them significant cost of switching to the more rigorous accounting standard A government-constituted core panel on IFRS has decided to exempt SMEs from the first phase of [...]
Read More >>Cos with high IPO grades have higher PE multiples: Crisil
By admin at 20 January, 2010, 12:34 pm
Companies which get high grades for their initial public offers have higher price-to-earnings (PE) multiples, rating agency Crisil said today.
Companies with a higher IPO grade of 4/5 (indicating above average fundamentals relative to other listed securities in India) have enjoyed average PE multiples of 25.8x, compared to companies with a lower IPO grade of 1/5 (indicating [...]