Three of the Big Four global accounting firms may have moved to ban consulting for their audit clients in the UK in order to address conflict-of-interest concerns, but the historic move may not help revive the flagging fortunes of the larger audit markets plagued by poor quality and lack of competition, experts say.Last month, PwC and EY decided against offering advisory or consulting services near future to their audit customers in the UK following a similar move by KPMG announced last November. The largest among them, Deloitte, is also said to be watching this step closely even as it awaits more clarity from the UK regulators.These announcements come on the backdrop of tremendous pressure on the auditing giants from British lawmakers for having failed to flag off recent accounting misdemeanours including the one at the government construction contractor Carillion in January 2018.The British government has upped the ante against the Big Four and conducted independent reviews last year … [Read more...] about Would the historic consulting ban help revive the fortunes of audit markets?
Osayande alleged that the defendant, who got tips for bringing customers to shop owners in Yaba, tricked the complainant, one Bashiru Mumini, into believing that someone wanted to buy a gold chain, and immediately absconded with it. … [Read more...] about Man allegedly steals N250,000 gold chain at Tejuoso market
NEW DELHI: Easing the regulatory framework for foreign portfolio investors (FPIs), Sebi has simplified KYC requirements for them and permitted them to carry out off-market transfer of securities. Besides, the regulator has broad-based the classification for FPIs and simplified their registration process. The notification comes after the board of Sebi in August approved a proposal to simplify the regulatory norms for FPIs. The new regulations have been redrafted based on the recommendation of a committee headed by former RBI deputy governor H R Khan. Under the new framework, FPIs would be classified into two categories instead of three. At present, Sebi has classified FPIs into three categories with the easier compliance norms for category-I FPIs and the strictest for category-III FPIs. The most well-regulated FPIs come under category-I. As per the new rule, the government and government-related investors such as central banks, sovereign wealth funds, international or multilateral … [Read more...] about Sebi relaxes FPI norms; allows off-market transfer of securities
Including developed Asian economies, Airtel is the fifth most valuable (based on m-cap) behind China Mobile, and Japanese players NTT, NTT Docomo and KDDI Corporation. This is two spots better than last year, with it beating out South Korea’s SK Telecom and Telekom Indonesia. … [Read more...] about Airtel most valuable co in Asia’s emerging market after China Mobile
The data is related to systems called securities information processors, or SIPs, which consolidate stock orders and last sales prices from the 13 U.S. stock exchanges. Regulators use the information to determine the best market prices, which brokers must give their clients when executing trades. … [Read more...] about SEC proposes adding more stock price information to market data feeds