21 November 2024 News and Updates

21st November 2K24 News and Updates

📝 India, Australia firm up clean energy partnership; pushing mega trade pact

📝 Asia's jet fuel imports from India to hit multi-yr high in Nov, shows data

📝 Axis Bank, Bank of India eyeing to raise funds through AT-I bonds

📝 Tripura govt signs MoA with Tata Technologies for upgradation of 19 ITIs

📝 Adani Energy Solutions to acquire 100% stake in Pune- III Transmission

📝 Coal import by NRS, domestic thermal power plants drops 9.8% in H1FY25

📝 ReNew Energy's Q2 net profit rises 31% to Rs 440 crore on higher income

📝 OfBusiness hires Axis, JPMorgan, Citi among other banks for 2025 Indian IPO

📝 CIEL HR Services files draft IPO with Sebi, aims for Rs 335 cr via issue

📝 Parle Agro FY24 revenue down 12% to Rs 3,126 crore, profit slides 89%

📝 Datta Power Infra signs MoU to invest Rs 5,000 cr in RE sector in Rajasthan

📝 Tropical Agrosystem to build new unit in Kharagpur, eyes expansion in Gujarat

📝 LG Saxena approves promotion of 295 CMOs in Delhi government hospitals

📝 Karnataka aims to attract $ 3 billion in space tech, aims half of country's marketshare

📝 Vedanta Aluminium signs pact with GAIL for supply of natural gas

📝 Equity investments in real estate sector to hit a new record surpassing USD 10 billion

📝 SECI signs MoU with H2Global Stiftung to promote green hydrogen initiatives

📝 Hope slowdown in urban discretionary demand is a blip, not structural: Sula Vineyards CEO

📝 Qcomm logistics enabler Blitz raises Rs 51 crore from IvyCap Ventures, others

📝 Paper and paperboard imports rise by 3.5 pc in April-September FY25

📝 Higher energy bills push UK inflation to 6-month high in October

📝 India’s GDP growth likely moderated to 6.5% in Q2, says Icra

📝 India's services exports to surpass goods exports by FY30, says GTRI report

📝 Doodhvale Farms Raises $3M in Atomic Capital-Led Round to redefine India's premium dairy sector

📝 UPL announces rights issue to raise ₹3,378 crore

📝 Honda Cars India announces big discounts on Amaze, City, and Elevate

📝 Nokia wins 5G extension deal from Bharti Airtel for its India operations

📝 Raheja Developers moves NCLAT against insolvency

📝 India's steel industry to grow at 8%; capacity to rise by 20 million tons by FY2027: report

📝 Relief for Airtel, Vodafone, Tata Tele as SC grants tax credit on infra item

📝 Department of Commerce welcomes resumption of FTA talks between India, UK

📝 Booking Holdings outpaces rivals with strong growth in alternative accommodation

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Audit is Changing Forever!

✅The National Financial Reporting Authority (NFRA) has initiated a major reform to transform how audits are conducted for corporate financials in India.

✅NFRA plans to revise all 38 Auditing Standards and 2 Quality Management Standards issued by the ICAI. Currently, these standards are considered final, but NFRA’s move aims to align them with stricter global practices.

🚨 Key Update:

✅SA 600 (on consolidated financial statements) is already under revision, with more changes on the way.

Why the Reform?

✅After scandals like Satyam and IL&FS, stricter audits became essential. NFRA’s revisions aim to enhance accountability and compliance under Section 143(10) of the Companies Act, 2013.

✅Though there might be differences between ICAI and NFRA, this is not a conflict but a step to ensure higher audit standards.

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