Companies across the accountancy field are currently working more efficiently, with some suggesting they may continue to working from home after the government’s restrictions are lifted. “The staff have been listing all of the positive things that they found about working digitally. This ranges from everything – from saving on commuting expenses and having better […]
Archives for April 2020
The list of U.S. Treasury questions for airlines seeking bailout cash
CHICAGO (Reuters) – U.S. Treasury officials have asked airlines seeking money from a $25 billion fund for payroll support to provide detailed information on their capital structure, liquidity and collateral, people briefed on the matter said. Below is a list of the details Treasury has requested, as explained to Reuters by one of the people: […]
Under lockdown, India changes shopping habits
Lockdown plus WFH equals new online shopping behaviour. Office hours are turning into shopping hours, especially for essentials, data shared by companies managing online and offline transactions show. And that weekend spending bulge too has somewhat flattened, with those working from home managing their routines differently. “Transactions at retail stores have significantly declined during late […]
Oyo executives accused of faking NOCs from Treebo-listed hotels
Executives at Oyo have submitted “invalid” no-objection certificates from about 70 hotels to online travel agency (OTA) Booking.com last week, to change the ownership listing of the properties to the SoftBank-backed chain from rival Treebo, people familiar with the matter, including several hotel owners, have alleged. Brands like Oyo and Treebo list their properties on […]
Amazon to hire 75,000 more workers in US to meet surging demand
Image Credit: Bebeto Matthews Amazon said Monday it had filled the 100,000 US jobs it promised a month ago to meet demands from the coronavirus outbreak, and was ready to take on 75,000 more. The announcement by the technology and retail colossus highlighted surging demand for online commerce with the pandemic forcing people to shelter […]
Supreme Court tries out software for e-filing of cases
The Supreme Court is experimenting with limited live webcasting and an e-filing software which will obviate the need to travel to court to file cases, chairman of the top court ecommittee Justice DY Chandrachud said on Monday. For now, the plan is to restrict the webcast’s accessibility via a password protected web link. Though there […]
Flipkart, Amazon line up sales in May to help revive demand for non-essentials
Illustration: Rahul Awasthi India’s two largest ecommerce marketplaces, Walmart-owned Flipkart and Amazon are planning big sale events in May and have asked brands to stock up, expecting a resurgence in demand for some non-essential categories once restrictions are lifted, five senior executives of leading brands said. Odisha on Monday allowed ecommerce sites to deliver all […]
Zomato may buy Grofers in an all-stock deal valuing e-grocer at $750M
In what could possibly emerge as a big consolidation move in India’s consumer internet sector, food delivery and restaurant discovery platform Zomato is learnt to be in talks to acquire online grocery retailing startup Grofers in an all-stock deal, said two people in the know. Grofers, which has seen heightened demand in the past few […]
Oracle Tackles a Massive 405 Bugs for Its April Quarterly Patch Update
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Tips for auditing with changed controls during the pandemic
The coronavirus pandemic has raised a number of questions about how to properly audit financial statements when internal controls have changed due to dramatic changes in an entity’s business volume and activities. The auditing standards (GAAS) require the auditor to obtain an understanding of controls that are relevant to the audit and assess whether they […]