Never waste a good crisis. The audit industry needs to be fixed and recent developments provide the perfect trigger to rethink its future. It is a scary time for the big four auditors in India. Their worry is not so much the business model of providing audit and a myriad of non-audit services; that, if regulators demand, they will reluctantly tweak. It is the audit quality and the numbers they are printing, that shareholders, lenders and regulators are now questioning. Look a

To achieve sustained economic growth, the Modi Government 2.0 will need to boost investor confidence. For this, the efficacy and quality of capital are paramount. Better corporate and regulatory behaviour, and a stronger redressal mechanism, will deter errant corporate behaviour and help create a responsible and empowered investor community. The central agenda for the next five years of Modi Government 2.0 will be economic growth and job creation. For this, industry will need

We look at SEBI’s recent announcement and explain what these will mean for the market Securities and Exchange Board of India (SEBI) published its ‘Guidelines for enhanced disclosures by credit rating agencies,’ on 13 June 2019. These are focussed on disclosures relating to computation of cumulative default rates and introducing probability of default benchmarks. The guidelines focus on liquidity indicators - usually taken for granted, the absence of liquidity has debilitating