Training on New Companies Act – Raising the bar on Governance

Training Date: 13th March 2014

City: Mumbai

Introduction:

The Companies Act, 2013 (‘2013 Act’), enacted on 29 August 2013 on accord of Honorable President’s assent, has the potential to be a historic milestone. The New Companies Act keeps in mind globalization, corporatization of small and medium organizations, and makes the act meaningful in the context of investor protection. The 2013 Act contains a number of provisions which have implications on financial reporting, auditor’s responsibility, duties of directors and key management personnel, corporate restructuring, investor protection and CSR, with all these provisions aiming to raise the bar on Governance. The Companies Act will also mean a transformation of the audit profession in the country, including audit rotation and enhanced responsibility of auditors.

VCCircle’s one day workshop will equip you with the advance knowledge of accounting and auditing techniques which you can immediately put into practice. There would be detailed analysis of some of the key provisions made in the new act for Accounts, Audit and Auditors. The workshop will help you to identify certain action steps and challenges associated with the implementation of these provisions which companies will need to consider.

Benefits of Attending:

A practitioner’s view of the Companies Act 2013

Sessions conducted by senior professionals having significant experience in accounting and auditing

Content ideally suited to investors, financial reporting and compliance teams

Specific focus on potential implementation challenges of the 2013 Act

Starting point for assessing the impact of the 2013 Act on your entity and your department

Agenda:

Session 1: Financial Reporting

Consolidation of accounts

Holding and subsidiary companies- Accounting treatment, disclosures and consolidation of accounts

Internal finance controls/ Risk Management Framework / Legal Compliance

What it means for organizations

Session 2: Audit and Internal Audit

Audit

Rules of audit rotation

New requirements to be covered in audit report

Non audit services

Internal audit

Forms of audit- propriety audit, compliance audit and efficiency audit

Nature, scope and techniques of audit

Functions and responsibilities of internal auditors

Organizational status of internal auditing function

Internal audit vis-à-vis statutory audit

Session 3: Valuation of shares and intangible assets

Valuation methodologies prescribed in the draft rules under the Companies Act 2013

Session 4: Corporate Restructuring

Requirements to have 2 layers of companies

New process of fast track mergers

Buyback- then and now

Auditor’s certificate for private companies

Changes to requirements on mergers / NCLT’s role in mergers

Experts:

Rajesh Varma – Governance, Risk and Compliance Services, KPMG in India

Koosai Lehery - Accounting Advisory Services, KPMG in India

Nirav Patel – Accounting Advisory Services, KPMG in India

Saumil Shah- Member, Institute of Chartered Accountants of India

Mahek Vikamsey – Member, Institute of Chartered Accountants of India

Registration Details:

Standard Fee: INR 15,000 plus 12.36% Service Tax

25% Special Discount till 6th March – i.e. INR 11,250 + 12.36% (Service Tax) for all patrons of Corporate Law Reporter who register their details in the form below.

For registrations and group discounts please contact: 

Biplab SenGupta | M: +91-8130826342 | Email address: biplab.sengupta@vccircle.com