Indian Economy: News and Discussion

[Kumata]

No one a CA here? Ask them how people handle big money. They don't do a google search "best auditor" and appoint the first that comes on the page.

you are not getting the point.

Point is the CA signing on those report is such a small firm that it raises eye brows ..

 

[NutCracker]

Ya'll Nibbiars thats a assumption on your part, unless you post some information connecting as per your claims its nothing but khayali pulao.

Nambiar, you work in IT right, don't there 24 y.o. get access of prod servers in which any kind of mala fide action can create millions of dollars of loss to the client.

 

[Haldilal]

biley. let me make some money.. I will short gujju tomorrow...

Ya'll Nibbiars 33 percent Billionares are Gujarati in India followed by Marwaris, Kattaris and Sindhis, Parsis. On average, Don't knew about the current compositions.

 

[Haldilal]

Nambiar, you work in IT right, don't there 24 y.o. get access of prod servers in which any kind of mala fide action can create millions of dollars of loss to the client.

Ya'll Nibbiars studied for the C.A. nutwale crackers wale bhaiya.

 

[Kumata]

Ya'll Nibbiars 33 percent Billionares are Gujarati in India followed by Marwaris, Kattaris and Sindhis.

We too will become millionaire in that line... Billa and kumata after gujju's as millionaire

 

[NutCracker]

Ya'll Nibbiars studied for the C.A. nutwale crackers wale bhaiya.

Arre yaar to tu Congnizant ka reference kyu deta rehta hai ..
I also read you talking about manual testing somewhere

 

[Haldilal]

Arre yaar to tu Congnizant ka reference kyu deta rehta hai ..
I also read you talking about manual testing somewhere
View attachment 191330

Ya'll Nibbiars sector hei change kiya. Chinese virus, no jobs, struggling backgrounds, no support of any kind absolutely, thanks due to some Nibbas here Learned about testing in tight time and some how managed to get a job after two dozen interviews and many almost thousands applies. So you can say in a Way the DFI members saved my life.

 

[here2where]

Ya'll Nibbiars And Mark my word nothing will happen.

Something's will happen.

No - Adani will remain. He is now too big to fall without dragging banks down with him.
Mudi cannot afford to go into an election year with voters losing their life's savings in banks and LIC.

What will happen is Adani will work on his leverage and soften up and not be this brazen on inflating stock prices and borrowings. Yes infra development will take a short term hit.

But soon, things will be back to normal.

 

[Cheepek]

you are not getting the point.

Point is the CA signing on those report is such a small firm that it raises eye brows ..

View attachment 191322

Feel free to keep raising eyebrows, as far as signing documents by 24 year olds are concerned, ask ICAI to stop giving membership to them. Let us know how they respond to your feelings.

 

[angryIndian]

Why not? You appoint your auditors on trust. The owner of the firm may be a time tested friend of the Adanis? This is just so silly, you are trying to impute malice to practices which are already a norm.

See as i said hiring college freshers is not illegal but recruiting them straightaway to audit one of the largest companies in India will certainly raise doubts and questions.
And can a tiny firm with just 11 employees handle the voluminous task of auditing a conglomerate ?
Further the hindburg report says that the only other entity this firm audits is a company with a market cap of just 7 million $.

 

[Kumata]

Feel free to keep raising eyebrows, as far as signing documents by 24 year olds are concerned, ask ICAI to stop giving membership to them. Let us know how they respond to your feelings.

U r right.. there is no legality stopping these people from signing those docs.. it is more of a Ethics and corporate governance issue than anything else..

 

[hit&run]

See as i said hiring college freshers is not illegal but recruiting them straightaway to audit one of the largest companies in India will certainly raise doubts and questions.
And can a tiny firm with just 11 employees handle the voluminous task of auditing a conglomerate ?
Further the hindburg report says that the only other entity this firm audits is a company with a market cap of just 7 million $.

These audits are done by software.

 

[prasadr14]

Pfizer with what it has done to US people and many countries world wide is heavily shielded by US govt.

A lesson to Indian govt to shield our own companies from foreign interference.

 

[Cheepek]

See as i said hiring college freshers is not illegal but recruiting them straightaway to audit one of the largest companies in India will certainly raise doubts and questions.
And can a tiny firm with just 11 employees handle the voluminous task of auditing a conglomerate ?
Further the hindburg report says that the only other entity this firm audits is a company with a market cap of just 7 million $.

You realise these "college freshers" pass an exam and are professionals? That is how they are qualified to sign documents. They get enough training for it.

 

[ezsasa]

you chaps have your fun, i am having mine watching Vishnu Som defending Adani on NDTV

 

[prasadr14]

you chaps have your fun, i am having mine watching Vishnu Som defending Adani on NDTV

NDtv is now sanghified.

Let the confusion begin.

 

[hit&run]

you chaps have your fun, i am having mine watching Vishnu Som defending Adani on NDTV

We already started here at DFI.

 

[Cheepek]

I will read the full report over the weekend, but here are some inaccuracies found in the report

 

[another_armchair]

Hindenburg impact: Adani Enterprises FPO subscribed just 1% on Day 1

The company received total bids of 4,70,160 shares against the issue size of 4,55,06,791 shares. The portion reserved for retail investors got bids for 3,99,880 shares against 2,29,08,464 shares on offer.

economictimes.indiatimes.com

 

[SKC]

Oh please......what sort of experience does a 23-24 year old college fresher employed by a tiny auditing firm have to audit one of the biggest companies in India and put his signature over the document?
As per some tweets one or two of the CA's who audited the adani firms in 2018 had cleared their CA exam in 2017.

Though technically no law is being broken but why would a mega billion dollar conglomerate that suffers from serious image problem entrust upon a smalltime auditing firm that does not even have it's own website instead of a big reputed auditing firm ?

When these guys have cleared CA already and also got placed in audit firm which have grueling interview then whether they are 23-24 it doesn't matter that much. It is not that they are the only 2 guys auditing all the companies. They will be monitored by their lead all the time.