CFO Insight Weekly | Must-Read Stories | ETCFO
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Welcome to "CFO Insight Weekly," your premier source for the latest developments in finance and corporate strategy. Each week, we provide top stories, expert analyses, and emerging trends that are crucial for CFOs and finance leaders. Our carefully curated updates will ensure you remain informed and well-prepared to navigate the complexities of today’s financial environment. Below, you will find a selection of top stories to commence your weekend with valuable insights.
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As ICAI introduces new Standards of Quality Management (SQM), questions arise regarding its legitimacy and adherence to established protocols. Rangachari Sridharan, the former chief of the NFRA, asserts that legally valid auditing standards can only be issued by MCA, a position that challenges the ICAI's recent unilateral actions.
Maharashtra government's Ladki Bahin Yojana and Madhya Pradesh government's Ladli Behan Yojna, which both mean My dear sister scheme will certainly cheer up the women and their families. On one side, needy households might get an opportunity to celebrate their Diwali happily, but on the other side we have to also look at the impact of the government's freebie schemes. The debt of the state governments is skyrocketing, and it will certainly weaken the state finances.
Between April 2023 and June 2024, the ICAI held 188 meetings, addressing over 600 cases of professional misconduct and awarding 205 punishments. This highlights a significant increase in proactive disciplinary action. Experts note that while progress has been made, there is a need for clarity regarding the nature of indiscipline, the issues identified, and the quantum of penal or other actions taken.
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ICAI says it has diligently followed all due legal processes to issue the new Standards on Quality Management (SQMs), countering NFRA's allegations of illegality
Abhishek Gupta, who previously served as CFO of OYO for nearly nine years, joins Lenskart following the resignation of the company's former CFO, Mukti Hariharan, earlier in September.
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