M N H & Co.

Monday is another day of your life that you can use to make progress. . . #MotivationMonday #Discipline #NewWeekNewGoals #RiseAndGrind #StartStrong #MondayMindset #PositiveVibesOnly #FreshStart #GetAfterIt #YouGotThis #MakeItHappenMonday #MondayMood #InspirationMonday #GoalDigger #OwnYourWeek #August2024 #mondaymotivation #mnhandco #accounting #tax #audit #financialadvice #businessadvisory #compliance #charteredaccountantstax #MNHandcoHyd  

𝓑𝓲𝓰 𝓬𝓱𝓪𝓷𝓰𝓮 𝓲𝓼 𝓬𝓸𝓶𝓲𝓷𝓰 𝓯𝓸𝓻 𝓘𝓷𝓭𝓲𝓪𝓷 𝓐𝓾𝓭𝓲𝓽 𝓯𝓲𝓻𝓶𝓼 𝓪𝓷𝓭 𝓘𝓷𝓭𝓲𝓪𝓷 𝓒𝓸𝓶𝓹𝓪𝓷𝓲𝓮𝓼... SA 600 - Using the work of Another Auditor 𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐋𝐚𝐰 C̳o̳n̳s̳o̳l̳i̳d̳a̳t̳i̳o̳n̳ ̳a̳u̳d̳i̳t̳o̳r̳ - Completly rely on work of subsidiary auditors S̳u̳b̳s̳i̳d̳i̳a̳r̳y̳ ̳A̳u̳d̳i̳t̳o̳r̳ - Do independent audit and don't share work papers with Consolidation auditor, very limited interaction. 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐝 𝐋𝐚𝐰 C̳o̳n̳s̳o̳l̳i̳d̳a̳t̳i̳o̳n̳ ̳a̳u̳d̳i̳t̳o̳r̳ - Should be involved from planning to closure, review work papers, should be involved and take full responsibility S̳u̳b̳s̳i̳d̳i̳a̳r̳y̳ ̳A̳u̳d̳i̳t̳o̳r̳ - Work under/supervision of Primary auditor, meet their expectation, share work paper etc. More time will be required by them. C̳o̳m̳p̳a̳n̳y̳'̳s̳ ̳M̳a̳n̳a̳g̳e̳m̳e̳n̳t̳ - More cost, more alignment and more time to complete audit. Impacted parties share your views, comments, lets discuss if any better suggestion/option is available. Ahuja Valecha & Associates LLP AVA Insights AVA Network The Institute of Chartered Accountants of India Western India Regional Council (WIRC) of the ICAI #auditor #icai #ca #listedcompanies #financedirector #CFO #controller

🌍 Embracing ESG isn't just about compliance- it's about creating sustainable value. Companies should integrate #ESG principles to foster long-term success and resilience. By prioritizing environmental, social, and governance factors, businesses can drive innovation, enhance efficiency, and build stronger stakeholder relationships. What is for you for next 3 years? I have detailed down the requirements for all Top 1000 Companies by Market capitalization. Hope Companies have already planned their ESG compliance. - Top 1000 🅲🅾🅼🅿🅰🅽🅸🅴🆂 - 𝔸𝕤𝕤𝕦𝕣𝕒𝕟𝕔𝕖 𝕞𝕖𝕒𝕟 𝕒𝕦𝕕𝕚𝕥 𝕠𝕗 𝕗𝕦𝕝𝕝 𝔹𝕊ℝ𝕊 ℝ𝕖𝕡𝕠𝕣𝕥  - 𝕍𝕒𝕝𝕦𝕖 ℂ𝕙𝕒𝕚𝕟 𝔻𝕚𝕤𝕔𝕝𝕠𝕤𝕦𝕣𝕖 - 𝔸𝕦𝕕𝕚𝕥 𝕠𝕗 𝕍𝕒𝕝𝕦𝕖 𝕔𝕙𝕒𝕚𝕟 𝗢𝘃𝗲𝗿 𝗮𝗻𝗱 𝗮𝗯𝗼𝘃𝗲 𝗕𝗦𝗥𝗦 𝗿𝗲𝗽𝗼𝗿𝘁 𝗯𝗲𝗹𝗼𝘄 𝗮𝗿𝗲 𝗳𝗲𝘄 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗮𝗻𝗱 𝗺𝗮𝗻𝗱𝗮𝘁𝗲𝗱 𝘁𝗵𝗶𝗻𝗴𝘀 - 𝕎𝕙𝕖𝕥𝕙𝕖𝕣 𝕪𝕠𝕦 𝕙𝕒𝕧𝕖 𝕔𝕣𝕖𝕒𝕥𝕖𝕕 𝕒𝕟 ℝℂ𝕄 𝕗𝕠𝕣 𝔼𝕊𝔾? - 𝕎𝕙𝕖𝕥𝕙𝕖𝕣 𝕪𝕠𝕦 𝕙𝕒𝕧𝕖 𝕗𝕒𝕔𝕥𝕠𝕣𝕖𝕕 𝔼ℂ𝔾 𝕚𝕟 𝕪𝕠𝕦𝕣 𝔼ℝ𝕄? - 𝕎ℍ𝔼𝕋ℍ𝔼ℝ 𝕐𝕆𝕌 ℍ𝔸𝕍𝔼 ℂ𝕆𝕍𝔼ℝ𝔼𝔻 𝔼𝕊𝔾 𝔸𝕊 𝕊ℂ𝕆ℙ𝔼 𝕀ℕ 𝕐𝕆𝕌ℝ 𝕀ℕ𝕋𝔼ℝℕ𝔸𝕃 𝔸𝕌𝔻𝕀𝕋? In last 3 years various Software tools has been developed across globe which can help you automate the overall reporting process. Leveraging technology to automate the overall processes is the future! #Sustainability #CorporateResponsibility #RCM #internalaudit #ESG #boardmembers #directors #SEBI #Listedcompanies Ahuja Valecha & Associates LLP AVA Network AVA Insights

Monday is another day of your life that you can use to make progress. . . #MotivationMonday #NewWeekNewGoals #RiseAndGrind #StartStrong #MondayMindset #PositiveVibesOnly #FreshStart #GetAfterIt #YouGotThis #MakeItHappenMonday #MondayMood #InspirationMonday #GoalDigger #OwnYourWeek #August2024 #mondaymotivation #mnhandco #accounting #tax #audit #financialadvice #businessadvisory #compliance #charteredaccountantstax #MNHandcoHyd

𝘼͟𝙨͟ ͟𝙖͟ ͟𝘾͟𝘼͟ ͟𝙙͟𝙤͟ ͟𝙬͟𝙚͟ ͟𝙗͟𝙚͟𝙡͟𝙞͟𝙚͟𝙫͟𝙚͟ ͟𝙞͟𝙣͟ ͟𝙤͟𝙪͟𝙧͟𝙨͟𝙚͟𝙡͟𝙛͟?͟ ͟💡 𝘋𝘰 𝘸𝘦 𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘸𝘦 𝘢𝘳𝘦 𝘮𝘰𝘴𝘵 𝘤𝘳𝘪𝘵𝘪𝘤𝘢𝘭 𝘱𝘢𝘳𝘵 𝘰𝘧 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘵𝘰 𝘝𝘪𝘬𝘴𝘩𝘪𝘵 𝘉𝘩𝘢𝘳𝘢𝘵? Last 2 days at Western India Regional Council (WIRC) of the ICAI Regional Conference at Jio World Convention Centre shown us that the answer is a resounding yes by every Stalwarts who were invited to give their perspective on various topics. 🔍 The #WIRC's curated sessions have been a testament to the #potential and capabilities of CAs. We have been reminded of the critical role we play in shaping the future of our country. Our #stalwarts have urged us to tap into our potential and work towards achieving our goals. Piyush Goyal gave various insights on #VikshitBharat and near future plans in India for Indian. Suresh Prabhu gave various data which proves that next 2 decades are ours.. Jaya Kishori 🙏🏼 a real spiritual and motivational speaker who adapted change in her own life, she gave various practical aspects which we should adopt by saying No when it will harm you, what is myth in work life balance. Ajay Bagga gave us insights on 𝙄͟𝙨͟ ͟𝙂͟𝙡͟𝙤͟𝙗͟𝙖͟𝙡͟ ͟𝙎͟𝙤͟𝙪͟𝙩͟𝙝͟ ͟𝙩͟𝙝͟𝙚͟ ͟𝙣͟𝙚͟𝙬͟ ͟𝙂͟𝙡͟𝙤͟𝙗͟𝙖͟𝙡͟ ͟𝙉͟𝙤͟𝙧͟𝙩͟𝙝͟.͟ ͟The data points were really shocking. Anupam Mittal 𝗵𝗲𝗹𝗽𝗲𝗱 𝗺𝗮𝗻𝘆 𝗖𝗔'𝘀 𝗳𝗼𝗿 𝗗𝗼'𝘀 𝗮𝗻𝗱 𝗗𝗼𝗻'𝘁 𝗳𝗼𝗿 #𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝘄𝗼𝗿𝗹𝗱, 𝘄𝗵𝗮𝘁 𝗶𝘀 𝗳𝗼𝗿 𝘂𝘀 𝗶𝗻 𝗻𝗲𝘅𝘁 𝟭𝟬 𝘆𝗲𝗮𝗿𝘀 𝗶𝗻 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 industry. Shailesh Haribhakti [GCB.D] Covered on #AI #artificalintelligence and who it will help us and why we should not worry, rather its opportunity and on #Sustainability and #ESG Anand Rathi Wealth Limited Sunil Singhani Shailesh raj Bhan from Nippon India Mutual Fund and Nilesh shah (MD Kotak Mahindar Asset Management) on Equity market and whether how much to be put in next decade. I am grateful to CA Ankit Rathi Gautam Lath Rahul Parikh as well as all the RCM and CCM, for their efforts in organizing these insightful sessions. The knowledge and insights shared have been truly valuable and have helped us grow both personally and professionally. 🤝 Let's start a conversation and share our thoughts on this topic. Let us continue to believe in ourselves and our abilities as CAs. Let us strive towards a Vikshit Bharat and make a positive impact in our society. Ahuja Valecha & Associates LLP AVA Insights AVA Network #CharteredAccountants #BelieveInYourself #VikshitBharat #WIRC #CuratedSessions #Potential #ProfessionalGrowth #CACommunity

"Raksha Bandhan symbolizes the timeless commitment of protection, respect, and the enduring bond of trust between siblings." . . #RakshaBandhan #SiblingLove #BrotherSisterBond #RakhiCelebration #FamilyFirst #RakshaBandhan2024 #SiblingsForLife #BrotherSisterGoals #FestiveVibes #RakhiTradition #IndianFestival #BrotherlyLove #SisterlyLove #RakhiSpecial #LoveAndProtection #SiblingGoals #mnhandco #accounting #tax #audit #financialadvice #businessadvisory #compliance #charteredaccountants #MNHandcoHyd

Monday is another day of your life that you can use to make progress. . . #MotivationMonday #NewWeekNewGoals #RiseAndGrind #StartStrong #MondayMindset #PositiveVibesOnly #FreshStart #GetAfterIt #YouGotThis #MakeItHappenMonday #MondayMood #InspirationMonday #GoalDigger #OwnYourWeek #August2024 #mondaymotivation #mnhandco #accounting #tax #audit #financialadvice #businessadvisory #compliance #charteredaccountantstax #MNHandcoHyd

The Corporate Affairs Ministry ( MCA ) has amended the Companies ( Indian Accounting Standards ) Rules, 2015, specifically targeting the insurance sector. As per the notification no. G.S.R. 492 (E) dated 12th August 2024, the Indian Accounting Standard ( Ind AS ) 117 has been introduced, with a complete focus on the nuances of insurance contracts. IND AS 17 is applicable for all insurance contracts other than below items - - warranties provided by a manufacturer, dealer or retailer in connection with the sale of its goods or services to a customer - employers’ assets and liabilities from employee benefit plans and retirement benefit obligations reported by defined benefit retirement plans. - contractual rights or contractual obligations contingent on the future use of, or the right to use, a non-financial item ( for example, some licence fees, royalties, variable and other contingent lease payments and similar items - residual value guarantees provided by a manufacturer, dealer or retailer and a lessee’s residual value guarantees when they are embedded in a lease - financial guarantee contracts, unless the issuer has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts. The issuer shall choose to apply either Ind AS 117 or Ind AS 32, Financial Instruments: Presentation, Ind AS 107, Financial Instruments: Disclosures and Ind AS 109, Financial Instruments to such financial guarantee contracts. The issuer may make that choice contract by contract, but the choice for each contract is irrevocable. - contingent consideration payable or receivable in a business combination - insurance contracts in which the entity is the policyholder, unless those contracts are reinsurance contracts held - credit card contracts, or similar contracts that provide credit or payment arrangements, that meet the definition of an insurance contract if, and only if, the entity does not reflect an assessment of the insurance risk associated with an individual customer in setting the price of the contract with that customer Some key changes for non-insurance companies are - - Intra group financial guarantee contracts - Financial guarantee contracts Ahuja Valecha & Associates LLP AVA Network AVA Insights Lalit Valecha Deepak Ahuja Rajiv Batra Prithvesh D. Ashar Mahesh Jeswani Vishal Solanki Ajay Kering Ankush Agrawal Mayur Zala Supriya Bansal Paresh Sancheti CA Ankit Shah Mukesh Bajaj Praveen Kumar Ashissh Mehta #indas #CA #change #Financedirector #controller #ICAI #wirc

Love you, India!🇮🇳 Proud to be part of a nation rich in culture, diversity, and innovation. From the bustling cities to the serene landscapes, every corner of India has a story to tell. The resilience, creativity, and unity of our people continue to inspire me every day. #ProudIndian #IncredibleIndia #UnityInDiversity

Happy Independence Day from all of us at AVA Network! As we celebrate the spirit of freedom and independence today, we are reminded of the power of innovation and collaboration in shaping our future. This day serves as a celebration of our nation's progress and a reminder of the limitless opportunities that lie ahead. Here’s to honoring our past, celebrating our present and envisioning a future filled with promise and potential. Wishing everyone a wonderful Independence Day! AVA Network CA Nikunj Newatia CA Murtaza Hyderabadwala #IndependenceDay #AVANetwork #StrategicGrowth #Innovation #india #growtogether #AVA #pune #Bengaluru #Hyderabad #Delhi #Belagavi #Ahmedabad #Surat #Kolkata #Jaipur