SC seeks status report from ICAI over allegations of FDI violations by audit firms

The Supreme Court on Monday directed the Institute of Chartered Accountants of India (ICAI) to submit a status report on the progress made in the probe into allegations of FDI violations and malpractices by UK-based audit firm, PricewaterhouseCoopers Pvt. Ltd (PwC).

A bench headed by Justice J. Chelameswar sought a response from PwC, ministry of finance (MoF), ministry of corporate affairs (MCA), Central Board of Direct Taxes (CBDT) regarding the alleged

KPMG conduct as Nationwide’s auditor queried

The Chartered Accountants Regulatory Board has been asked to formally investigate the conduct of KPMG as auditors of Irish Nationwide Building Society, whose collapse cost the State €5.4 billion.

Sinn Féin finance spokesman Pearse Doherty has written to Carb to ask it to examine audit reports, prepared for the failed building society by KPMG in the financial years 2006 until 2009, under seven