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Daily Newsletter - February 7, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

IESBA Draft

From the ICAI:

ICAI Standards of Auditing

ICAI Publication

Legal Updates:

Income Tax

IEPF

SEBI


  

News Update:

Indian News:

China extends anti-dumping duties on Indian chemical for five years

NCLT issues notice to Byju’s in insolvency case filed by a BPO service provider

Sebi issues guidelines for returning draft document of public issues

Fintechs parse KYC processes as Paytm bank saga plays out

BharatPe gets fresh notice from MCA

India to remain on alert for 'hot money' after bond index inclusion

RBI cancels licence of Jai Prakash Narayan Nagari Sahakari Bank

RBI allows HDFC Bank group to buy up to 9.5% stakes in ICICI Bank, 5 others

Govt to review tax on online gaming after March: Revenue Secy Malhotra

All eyes on directions to be passed on Feb 8, as regards GST anti-profiteering

 

International News:

Australian Accounting body tells members to make annual pledge to be ethical

Australia to allow workers to ignore after-hours calls from bosses

AICPA’s member insurer to cover BOI work for accounting firms

IAASB proposes to increase auditors' responsibility to spot fraud

FRC seeks to break down barriers to competition in UK audit market


Exposure Draft:

IESBA Draft:

Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability Assurance and Reporting – Clean Version
[Last date for Comments: May 10, 2024] 
  


From the ICAI:

ICAI Standards of Auditing:

SA 800 (Revised),
Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks

SA 805 (Revised),
Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement

SA 810 (Revised),
Engagements to Report on Summary Financial Statements

 

ICAI Publication:

Background Material on GST Demands & Appellate Remedies
[November 2023]


Legal Updates:

Income Tax:

Notification under Section 118 of the Income Tax Act, 1961 - Control of specified Principal CCITs [Notification No.20]

 

IEPF:

Notice under Rule 7(3) or 7(7) of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 referred to as IEPFA (AATR) Rules

 

SEBI:

Guidelines for returning of draft offer document and its resubmission


 

 

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