Asia: Accounting and Audit

The Hon'ble Supreme Court has recently on 7th April 2026 clarified the scope of procedural safeguards available to borrowers before their accounts are classified as "fraud" under the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions, 2016 ("Master Directions, 2016") and Reserve Bank of India (Fraud Risk Management in Commercial Banks and All India Financial Institutions Directions, 2024 ("Master Directions, 2024").

On March 23, 2026, the Union Finance Minister introduced the Corporate Laws (Amendment) Bill (“Bill”), 2026 in the Lok Sabha, which proposes various amendments (“Proposed Amendments”) to the Companies Act, 2013 (“CA 2013”) and the Limited Liability Partnership Act, 2008. The Bill has been referred to a Joint Parliamentary Committee for further scrutiny.

The Supreme Court through its judgement dated 07.04.2026 in State Bank of India v Amit Iron Private Limited & Others held that there is no right for borrowers to seek personal hearing before classification as fraud, however furnishing Forensic Audit Reports is mandatory.

In recent years, we have seen a notable rise in legal proceedings that require quantifying an account of profits in addition to damages, either by independent experts engaged by the plaintiff or defendant or joint or court-appointed experts.

A forensic accountant typically analyses accounting or financial data in a dispute or investigation context to investigate or quantify a financial issue.

Consulting experts play large, but often invisible roles in assisting their clients.

Facing overwhelming debt can feel isolating, but understanding your options is the first step toward financial recovery. Whether you're considering informal repayment arrangements, formal debt agreements, or bankruptcy, each pathway offers distinct advantages depending on your circumstances. This comprehensive guide breaks down the three main personal insolvency options available in Australia, helping you determine which solution best fits your financial situation.

Voidable transactions undermine the equitable distribution of assets in the administration of an insolvent company.

A basic summary to help understand the key elements and an overview of the legal processes in Victoria.

The Philippine Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 16, series of 2025 (“SEC MC No. 16-2025”)...

除获取投资收益等财产性权利外，合伙型基金产品投资人也享有诸多非财产性权利。

Entries in books carry significant legal consequences. They may corroborate a debt, revive a time-barred claim, or materially impact litigation strategy years later.