Corporate Laws
FAQ on AS 11 by MCA
Relaxations were given in Accounting Standard 11 (AS-11) on “The Effects of Changes in Foreign Exchange Rates
Accounting norm changes help major companies boost earnings
Benefit of option to capitalise/amortise differences in forex rates. Walking stick Profits of Tata Motors, M&M and Sterlite Industries would have been lower but for the amendment JSW Steel, Bharat Forge and Ashok Leyland may have slipped into losses in FY-09 if the new option had not been exercised Relaxations in AS 11, the Accounting […]
Limited Liability Partnership Act, 2008
Limited Liability Partnership Bill has received the accent of Honourable President of India on 7-Jan-2009 and has now become a legislation and is to be called as ‘Limited Liability Partnership Act, 2008’ vide Notification in the Official Gazette on 9-Jan-2009.
The impact of IFRS on corporate governance
Come 2011, and audit committees and board members of Indian companies will have to deal with convergence of Indian GAAP (generally accepted accounting principles) with International Financial Reporting Standards (IFRS), which will have a key impact on their functioning, roles and responsibilities. The audit committees and board members will have to handle this challenge in […]
SEBI directive on mandatory internal audit of stock-brokers
Last month, SEBI issued a circular to he various stock exchanges requiring mandatory internal audit for their stock-brokers / clearing members on a half-yearly basis. The scope of the said audit includes the existence, scope and efficiency of the internal control system, compliance with the provisions of the SEBI Act, 1992, Securities Contracts (Regulation) Act, […]
