Audit is not the Solution
Currently , after a long time, we are witnessing some debates and discussions on "Audits".. thanks to some startling revelations by ex CAG, Mr . Vinod Rai. Reading his book, indeed was a pleasure for a professional auditor like me . The book set my thoughts rolling
There are broadly two types of "Wrong Doings" which are revealed
1... That the Revenues have been under recovered , which can lead to huge Undue Enrichment of Private sector entities, and
2... That there are Excessive, un...
Category: General, Uncategorized |
PERFORMANCE AUDIT …. WHY NOT FOR LISTED COMPANIES ?
I was reading the recent book " not just an Accountant " by Vinod Rai .
An excellent book, worth a read for all auditors, in particular . It narrates the plight and complexities of the task of an auditor very lucidly.
one thing which I clearly noticed was that the real complex findings of the CAG emerged out of the Performance Audit that the CAG is called upon to perform as an auditor . The reason is simple. He is supposed to audit the Revenue and expenses for and on behalf of the people ...
“Financial Untouchability”
Cudos to the Hon PM Of India for coining a word " Financial Untouchability" for the ailment that exists in the banking sector, all over. There has certainly been a tendency on part of the banks to entertain large clients. Large accounts take relatively lesser time and provide a healthy financial rewards, so to say. This tendency is thus quite natural but this should not deny an opportunity to others who are, albeit small and marginal, but deserving nonetheless . Excessive time to be spent in br...
Category: General |
IPOs…..People are about to welcome you !!
The recent upswing in the sentiments has resulted into a rapid rise in the share market index . this is a welcome state to be in, for a longer time . But the trend is more or less continuous since nearly four months or more .
the analysts will agree that the PE ratios are rising beyond or near dizzy limits. Even at this stage the good sentiments are showing a growing trend ( thanks to good monsoon, some solution to coal block blockages and the initiatives of the new NDA Government ) . The in...
Category: Finances |
Independant Directors
Every one, connected with corporate Governance is praising the recent importance given to the position of Independant Directors.I also do appreciate the good intentions behind bringing this legislative changes.
However a question remains as to do we have a pool of such directors? And more importantly, why should promotors and high stake holders tolerate the independance of some one in the Board who has absolutely no financial or other stake in the functioning of the Company ?Just imagine a si...
Category: Uncategorized |
