Indian profession flourishes, but ICAI drags its feet

Article Abstract:

The accounting profession in India is flourishing. A survey of practitioners indicates that audit and accounting work has been profitable, and that there has been an influx of work from foreign firms interested in investing in India. Local accounting firms have been assisting international investors in determining the best strategies for entering the Indian market and in identifying potential local partners. Major changes in the business climate is expected in the wake of the introduction of a new takeover code by the Securities and Exchange Board of India. Accountants surveyed said that they expected more consulting work in the areas of corporate finance, mergers and acquisitions, and corporate restructuring. The Institute of Chartered Accountants of India has yet to make any significant response to the new business climate.

Services, Accounting, India

---

What price 'audit' advice?

Article Abstract:

The court's ruling on the 'ADT Ltd. v. BDO Binder Hamlyn' case underscores the importance for financial advisers that want to avoid malpractice suits to take an extremely cautious approach and to conduct a thorough analysis of the circumstances. Electronic security company ADT sued accounting firm BDO for allegedly conducting an audit of its acquisition target Britannia Securities Group (BSG) in a negligent manner. ADT bought BSG for 105 million pounds sterling, the value reflected in the BDO audit and confirmed by BDO partner Martyn Bishop. It was later reported that the true value of BSG was only 40 million pounds. ADT sued BDO for the amount in excess, 65 million pounds, and for an additional 40 million pounds in interest. The court ruled in favor of the plaintiff. BDO is appealing the decision.

Other Communications Equipment Manufacturing, Communications equipment, not elsewhere classified, Intrusion Detection NEC, Cases, Accounting firms, Accounting services, Security systems industry, Malpractice, ADT Security Services Inc., ADT, Intruder detection equipment, BDO Binder Hamlyn

---

Full of Eastern promise

Article Abstract:

A stint in the Middle East could prove to be an enriching experience for Western accountants. Although it does not ensure significant salaries, working in the region provides opportunities to work for major clients, add international experience to their curriculum vitae and have fun. Those who are planning to work there should look to work for a major international firm because it usually complies with internationally accepted professional standards, which makes audit work fairly familiar. They should also carefully negotiate their expatriate package during the interview to avoid unpleasant surprises once they arrive. It is also advisable to interact with other nationals and avoid forming cliques with their countrymen. This helps establish rapport and makes the stay more culturally rewarding.

Management, International aspects, Middle East, Employment abroad, Overseas employment

Similar abstracts:

• Abstracts: Accounting policies still not care free. Shares for fat cats and kittens. Help for the aged
• Abstracts: Deal flow continues to delight. A user's guide. Factoring and invoice discounting: respectable image leads to growth
• Abstracts: Listening essential component of successful international PR. Hill & Knowlton acquires Sommers & Associates
• Abstracts: Action plan for the Year 2000 problem. Success from depression: a CA wins his fight to overcome career setbacks
• Abstracts: The selling of a scandal. From racing Demon to Redbus driver. The turnaround kid rides again

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.