Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: empanelment :: TDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES
 
 
« General »
 Filing ITR just got easier for salaried class with CBDT's one-page form
 Why consumers should welcome GST
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956

Three key ways for auditing profession to implement: PwC
March, 21st 2011

PwC has designed three key ways the audit profession can take on board the lessons from the financial crisis in response to the European Commissions Green Paper on Audit Policy. They are:

Support for ideas that will improve governance and oversight of the audit profession itself such as regulation of the audit profession at an EU level through a two-tier mechanism of strengthened EU coordination and continued development of the oversight systems in member states. A single European passport for auditors as well as the need for simplification of requirements for small-and medium-sized companies, audit firms and practitioners has also been proposed.

As well, standards for corporate reporting and auditing should be revised in order to give clearer and better assured information in these areas. The effectiveness of some of the narrative disclosures that accompany financial statements has been called into question by the crisis, in particular around certain risks, the uncertainties and judgments that underlie a set of financial statements and the going concern statement.

Enhancing the accessibility and transparency of the audit to stakeholders is another important element. This area includes communications about financial reporting and the conduct of the audit, potentially through an expanded report by the audit committee and expanded reporting of key risks by companies on which the auditors could provide assurance.

Finally, the introduction and adoption of ISAs throughout the EU is another critical element.

However, there are certain areas on this Green Paper where the audit quality not be improved according to PwC such as expansion of existing restrictions on audit firms providing non-audit services and putting the appointment, remuneration and duration of auditor appointments in the hands of a third party.

Source: http://www.big4.com/news/pwc-three-key-ways-for-auditing-profession-to-implement-european-commissions-green-paper-on-audit-policy-2833

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions