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Accounting regulator raps ‘EY arm’s’ audit of IL&FS firm

-The Hindu 'Understatement of losses runs up to more than ₹2,000 crore’ The National Financial Reporting Authority (NFRA) has rapped ‘EY group firm’ SRBC & Co. LLP for failing to detect several problems in the IL&FS group’s transport venture while undertaking its statutory audit in 2017-18. The auditor’s lapses had led to losses being understated by more than ₹2,000 crore, incorrect treatment of letters of comfort of ₹2,654 crore and improper valuation of...

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India learns a bitter lesson for disregarding crucial warnings and recommendations on Covid-19

In the month of April this year, there has been an unprecedented upsurge in daily new cases and daily new deaths in the country due to Covid-19. States, which reported large increases in daily new cases and daily new deaths, are Maharashtra, Kerala, Karnataka, Delhi and Uttar Pradesh, to name but a few.   Data accessed from https://www.covid19india.org/, which is a crowdsourced platform and an independent aggregator of daily Covid-19 figures and...

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New report by American Bar Association exposes the dark underbelly of Indo-US sandstone trade

Often exports made by a country to the rest of the world are seen in a positive light by us. It is because exports not only earn precious foreign currencies (that can be used for importing goods and services or simply be used for building forex reserves), it also helps in generating effective demand for goods and services produced in that country and hence, contributes to economic or GDP growth....

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News space on sale-Divya Trivedi

-Frontline   Political parties flush with funds provided by corporate houses are winning over journalists, and some news organisations are creating packages for election coverage, making the phenomenon of ‘paid news' all pervasive. THE credibility of journalism and journalists has been greatly undermined by the scourge of cash for coverage, a much-abhorred sickness in the profession worldwide. News space on television, radio and newsprint is compromised with impunity with blatant advertising parading...

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India readies to implement UN’s REDD+ programme to incentivise forest conservation -Kumar Sambhav S

-Down to Earth MoEF’s draft policy aims to create the framework for transferring financial benefits from REDD+ to local communities involved in protecting and nurturing forests The Indian government is finally making official the mechanism for reducing emissions from deforestation and forest degradation, popularly known as REDD+. On April 28, the Union Ministry of Environment and Forests (MoEF) has made public its draft policy to implement the mechanism that aims to provide...

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