Cos Need to Register for Input Service Distribution
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Cos Need to Register for Input Service Distribution

Companies with branches in multiple cities will now need to register for input service distribution (ISD) to claim input tax credit for services provided by the head office to the branch office, a move expected to reduce disputes significantly. The interim budget proposed to make this rule mandatory, besides the requirement of a separate registration…

Pristyn Care Auditor Finds Issues with Revenue Reporting Processes

Pristyn Care Auditor Finds Issues with Revenue Reporting Processes

The auditor of Gurgaon- based health tech startup Pristyn Care, KPMG- affiliate BSR & Co, has flagged some of the company’s processes which could result in “overstatement or understatement to people briefed on the developments. In its audit of Pristyn Care’s 2021-22 financials, the auditor said the company did not have internal controls to accurately…

Adani Auditors Get NFRA Queries
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Adani Auditors Get NFRA Queries

The National Financial Reporting Authority has shot off queries to audit affiliates of Deloitte, EY, KPMG, Grant Thornton, and two Ahmedabad-based CA firms regarding audit practices they followed while auditing Adani companies. The Adani Group said it has complied with relevant accounting standards and applicable laws. The requested audit information extends up to FY22 and,…

KPMG Finds Unauthorised Actions by Some Staff: Fino Bank

KPMG Finds Unauthorised Actions by Some Staff: Fino Bank

KPMG, hired by Fino Payments Bank to carry out an independent probe on alleged fraud by some of the bank employees, has prima facie found unauthorised actions and misrepresentation by the alleged staff, according to the bank. “The investigation so far prima facie indicates that there were unauthorised actions and misrepresentation by the alleged staff,…