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Tags : "deloitte"

Microsoft-TikTok deal unlikely to be taxed in India, according to

Synopsis Although TikTok had a large subscriber base in India, pegged at 200 million, the value of the business is much below the threshold. The bulk of TikTok’s value is derived from its operations in the US. TikTok was recently valued at $30-50 billion, according to reports. New Delhi: Any acquisition by Microsoft of TikTok […]Read More

UK watchdog asks big 4 to separate audit practices

LONDON: The UK dominant accounting firms must separate their audit units from other businesses by June 2024 as the country’s accounting watchdog reacts to shortcomings that led to the collapse of several companies. The Financial Reporting Council is asking the so-called Big Four — KPMG, Deloitte, Pricewaterhouse-Coopers LLC and Ernst & Young — to agree […]Read More

Virgin Australia owes $4.4 bn, to seek aircraft lease waivers:

Virgin Australia Holdings Ltd owes A$6.9 billion ($4.39 billion) to more than 10,000 creditors based on an initial review and will seek a three-month payment waiver from aircraft lessors, its administrators said. Virgin said this week it succumbed to third-party led restructuring that could lead to a sale, turning Australia’s second-biggest airline into the Asia-Pacific’s […]Read More

Big win for Deloitte, KPMG in IL&FS case where government

MUMBAI: In a major relief for Deloitte and KPMG, the auditors of the debt laden IL&FS Financial Services (IFIN), the Bombay High Court on Tuesday said that the Ministry of Corporate Affairs (MCA) can’t take action against them. The high court, which was pronouncing the order through video conferencing, said that National Company Law Tribunal […]Read More