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 NFRA issues Draft Procedure for Submission of Audit Files
 Auditors barred from putting a value on companies they are auditing
 Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
 Standard on Internal Audit (SIA) 11, Consideration of Fraud in an Internal Audit
  Standard on Internal Audit (SIA) 9, Communication with Management
  Standard on Internal Audit (SIA) 8, Terms of Internal Audit Engagement

More time needed for check, auditor tells DoT
January, 15th 2010

The auditor for Bharti Airtel has asked for more time from the department of telecommunications (DoT) to finalise the special report sought by the government on the company, as they have yet to fully get the needed information.

Contractor, Nayak & Kishnadwada, the chosen audit agency, has told DoT in a letter that Bharti has started providing some of the pending information, which is being verified.

Bharti has stated it was facing difficulties in retrieving the information, since it is old and voluminous in nature, the auditor said, adding the company was taking necessary steps to provide the information expeditiously.

After getting what was sought, we would be able to complete the verification process and give the report within four to six weeks, the auditor said. It had earlier asked DoT to make Bharti give the information, having asked last month for an extension of the time granted for the report.

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