audit and consulting firms

Global professional services networks are shifting recruitment focus. The Big Four firms now seek more AI specialists than corporate auditors. This trend reflects significant investment in automated tools and advising clients on AI transitions. Technical roles like data scientists and machine learning engineers are in high demand. This change restructures traditional business models, automating entry-level tasks and driving tech-heavy hiring.

Jharkhand's electricity regulator has released draft grid code regulations for 2026, outlining protocols for power grid planning, operation, and management. The proposed code mandates a grid coordination committee and establishes rules for transmission planning, connectivity, safety, and cyber security. Stakeholders can submit feedback until May 11.

Prediction markets aren’t allowed to operate in India. But on Polymarket, anonymous crypto-wallet holders are waiting for election markets, where Rs 247 crore has been traded, to settle when the results are declared

The ongoing TCS Nashik scandal reveals something disturbing; that the systems meant to protect don’t always do; and might betray instead as well. Two millennia ago, Valluvar had warned us about such a situation, in the context of kingdoms. Listen to this week’s episode to know more.

Today's numerology forecast for April 21st emphasizes clear communication and careful agreements for Number 1s, emotional expression for Number 2s, patience for Number 3s facing delays, and diligent follow-ups for Number 4s. Number 5s are cautioned against haste, while Number 6s should manage heightened emotions. Numbers 7, 8, and 9 are advised to use calm authority, introspection, and carefulness respectively.

EY is revolutionizing its hiring and career progression by integrating AI, shifting from traditional tenure-based advancement to flexible portfolios where impact and skills are paramount. The firm now requires AI-ready skills assessments for early-career applicants and has broadened its recruitment to include diverse backgrounds, reflecting a significant investment in talent and technology.

KPMG's UK audit division is preparing to cut up to 440 jobs, primarily targeting qualified assistant managers. The firm cites a "low attrition" rate, leading to a "bloated" middle tier that needs "right-sizing" to match current market demand. This move reflects a broader trend in the consulting sector, where firms are prioritizing efficiency and AI adoption.

KPMG UK is cutting nearly 600 roles in its audit division and around 120 in advisory, citing tougher market conditions and unusually low staff turnover. The proposed redundancies, potentially affecting up to 440 audit staff, aim to right-size operations. This move highlights broader cost-cutting pressures across professional services firms.

A CAG report revealed significant cost overruns and procedural lapses in renovating Arvind Kejriwal's former residence, escalating from ₹8.6 crore to ₹33.6 crore. The audit highlighted inflated costs for luxury additions, restricted bidding, and work awarded without fresh tenders. A separate staff block project also faced fund diversion and incompletion.

Finance Minister Nirmala Sitharaman has introduced significant amendments to the Companies Act, aiming to decriminalize procedural defaults and boost flexibility in share buybacks. The proposed changes also introduce new executive compensation instruments and streamline merger processes. Special benches for the National Company Law Tribunal are planned, alongside relaxations for small companies regarding CSR requirements.

A CAG report revealed Arvind Kejriwal's former Delhi residence renovation cost ₹33.6 crore, significantly exceeding estimates. Separately, a PAC report indicated the withdrawn 2021-22 excise policy led to a ₹2,002 crore loss for Delhi, with Manish Sisodia's role questioned. These findings emerge amidst ongoing legal proceedings.

WASHINGTON: With the Enron crisis taking a toll on the popularity of auditing and accounting firms, some of the top companies in the US have agreed to give up or separate their consultancies, lest the Congress take the matter into its hands and compel them to do it.

The Prime Minister's Office is set to convene a meeting on September 23 to explore regulatory reforms aimed at empowering Indian audit and consultancy firms. Led by Shaktikanta Das, the discussion will address easing restrictions on multidisciplinary collaborations and other bottlenecks hindering domestic firms' growth.

While the number of such companies is not immediately available, the move signals a major shift amid repeated concerns over possible conflict of interest. In a statement, the global audit and consulting firm said its entire network of firms in India will be governed by the decision.

Price Waterhouse on Thursday said it will stop providing non-audit services, such as consulting, to its large and listed audit clients, which are governed by the National Financial Reporting Authority (NFRA).

The Kancheepuram police arrested S Ravi, 37, of Mangalapuram near West Tambaram. Surya's brother Victor Rajapandian and his associate Gunasekaran are absconding.

The Institute of Chartered Accountants of India is developing guidelines for overseas networks, particularly concerning consulting services, to facilitate the global expansion of homegrown firms. These norms, aimed at creating a level playing field, may face opposition from the Big Four, who currently operate without specific regulations.