CA Suprio Ghatak

Partner

J K V S & CO, Chartered Accountants

I am a Partner at J K V S & CO. I look after Recruitment, Training and Development. I am working here since May 2017.I also look into all ICAI related matters of the firm.

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About Me

I am a Visiting Faculty in the MCS (Management and Communication Skills) and Orientation courses conducted by The Institute Of Chartered Accountants Of India since 2014. I conduct sessions on weekends. I worked as Senior Manager at Ray and Ray, Chartered Accountants, Kolkata from June 2016 to May 2017. I have full-time teachi...
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Industries Expertise
Education Industry
Insurance Industry
Media Industry
Areas of practice
Audit
Bank Loan Syndication
Income Tax Appeals
AutoBiography

CA Suprio Ghatak: Know more about me

Soft skills
Audit Skill
100%
Management Skill
100%
Favourite Books
The Psychology of Money
100%
The Intelligent Investor
90%
Hobbies
Training Professionals
100%
Language Skills
English
100%
Miscellaneous Skills
Drafting Skill
100%
My Resume
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Experience
  • Partner 13-05-2017 - Present
    J K V S & CO, Chartered Accountants

    Partner


Education
  • The Institute Of Chartered Accountants Of India 15-07-1983 - 11-04-2022
    The Institute Of Chartered Accountants Of India

    May 1983


Awards

CA Suprio Ghatak: Know more about my achievements

  • All

CA Suprio Ghatak: Read My 32 Published Articles


#suprioghatak #frc #sanjeevgupta #gfg #kingandking #fraudulenttrading #moneylaundering #greensillcapital   The auditor of many companies in Sanjeev Gupta's network of metal companies, London-based King & King, resigned from five of them, amid an investigation of its work by UK regulators, Financial Reporting Council. They are under investigation by the accounting regulator, the Financia......

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MCA wants it to explain the delay in filing audited financial statements for 2020-21. #suprioghatak #byjus #deloitte #mcaIf you have missed the first 3 parts of the write-up please click on the below link Part I Why Deloitte has not Signed Byju's Financials for 2020-21 Even After 15 MonthsPart II Why Deloitte has not Signed Byju's Financials for 2020-21 Even After 15 MonthsPart III Deloi......

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#suprioghatak #elizabethholmes #theranos For those who have missed the first part of the write-up, Click on the title The Story of Elizabeth Holmes. Who is She? Why is She on Trial?  Introduction – This continues from where I signed out on 8th August. I wrote “The Story of Elizabeth Holmes. Who is She? Why is She on Trial?” I would appreciate if the readers who ha......

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#suprioghatak #adani #ndtv #prannoyroy #radhikaroy #moneylaundering #taxevasion #mukeshambani #sebi Introduction: Ideas come more often. Out of the box ideas seldom come. But if you don’t implement them even once they will remain stored in the pages of your text book. The idea of writing about the contents of a discussion we had on another platform has just come. I want to implement it now......

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#suprioghatak #icai #disciplinarycommittee #disciplinarynotice #icsi #companylawviolation #chinesecompanies #fdi #roc #sfio #ed #shellcompanies #rbi #nbfc Many Chartered Accountants (CAs) have signed mandatory documents of Chinese app companies like company incorporation forms and annual returns without conducting proper due diligence. The Institute of Chartered Accountants of India (ICAI) is pr......

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#suprioghatak #icai #icsi #companylawviolation #disciplinarynotice #chinesecompanies #fdi The Institute of Chartered Accountants of India (ICAI) has initiated action on a list of 400 Chartered Accountants and Company Secretaries sent by the central government to ICAI. ICAI has issued disciplinary notices to more than 200 Chartered Accountants for their role in assisting several Chinese firms ......

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#suprioghatak #pwc #fraud #frc #bt #auditfailures #professionalscepticism #auditevidence #auditdocumentation BT Group plc (trading as BT and formerly British Telecom) is a British multinational telecommunications holding company headquartered in London. It has operations in around 180 countries and is the largest provider of fixed-line, broadband and mobile services in the UK. It also provides s......

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#suprioghatak #elizabethholmes #theranos IntroductionThe Who and Why of A Woman and Her Fraudulent Behavior. We'll dig deep into the psychology behind the infamous fraud. Despite widespread coverage of the fraud, she remains an enigma. She is a real-life business fraudster. Auditors looking for fraud should focus beyond finance and include psychological risk factors shown by people running compan......

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#suprioghatak #kpmg #professionalmisconduct The junior auditor avoided fine and any ban for misleading the regulator Financial Reporting Council (FRC) over audits of construction firm Carillion and outsourcing firm Regenersis, in misconduct resulting in record penalty for KPMG UK. KPMG UK was fined 14.4 M pounds ($17.27 M).  Four KPMG UK auditors fined and banned for fabricating documents ......

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Before reading this article,We would recommend you to read Part-1 and Part-2 If you have missed.#suprioghatak #byjus #deloitte #revenuerecogntion #accountingstandards #ipo #spac #mca Byju's is a privately held company. Revenue 2019-20 - Rs 2800 cr - USD 370 M Has 14 subsidiaries. Yes you read it right. It was last valued at $22 B. Till date, Byju's invested at least $2.8 B on a ......

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#suprioghatak #fatherjoris #stxavierscollege Life in St. Xavier's College, Kolkata in the mid-'70s reached its pinnacle with a personality as Rev. Father Joris at the helm of affairs in the B.Com Department. An institution. A legend. That's what I call him. A charismatic and a cult figure, a gentleman 80 plus, stood in front of the gates with his head held high as early as 6 in the morning to c......

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#suprioghatak #nsecolocationscam #cbi #nse #sanjaypandey #mha #sebi #phonetapping #snooping #securityaudit #ey #eyindia #chitraramakrishna #ravinarain #ed #isecservices NSE Colocation Scam  The Central Bureau of Investigation (CBI) has registered a fresh case against former National Stock Exchange (NSE) chiefs Chitra Ramakrishna, Ravi Narain, and ex-Mumbai Police Commissioner Sanjay Pa......

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#suprioghatak #ey #cheating #usssec #pcaob #cpaexam #kpmg #pwccanada #codeofconduc Big Four and one of the world’s largest accounting firms, EY will pay a $100 M penalty to U.S. Securities and Exchange Commission for systematic cheating by its accounting professionals on Certified Public Accountant (CPA) license exams over four years from 2017 to 2019. The Certified Public Accountant (C......

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#suprioghatak #satyam #harshadmehta #pwc #ussec #sebi #nfra #icai  Nothing much has happened since Satyam which still rings a bell. Or shall I go back further to Harshad Mehta?  The Satyam scam was finally exposed early in 2009. It is the story of India's own Enron. PwC, the independent auditors of Satyam, was fined $6 M by the U.S. Securities and Exchange Commission for......

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#suprioghatak #srbc #ey #violations #auditorindependence #nonauditservices #auditingstandards #relatedpartytransactions #impairmentofinvestments The National Financial Reporting Authority (NFRA), the regulator of large and listed entities, has red flagged EY affiliate SRBC & Co. LLP's audit of IL&FS Financial Services Ltd (IFIN) and blamed it for failure on multiple counts. National Fina......

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If you have not read the Part-1, please click here#suprioghatak #byjus #deloitte #revenuerecogntion #accountingstandards  What is First Loss Default Guarantee, or FLDG?  To understand this concept, we need to know how Byju’s is pushing up sales while so many customers are struggling to make ends meet. An expensive two-year edtech course worth Rs 50,000/- is sold to a......

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#suprioghatak #byjus #deloitte #revenuerecogntion #accountingstandards  Deloitte has not signed Byju's financial statements for 2020-21. They have not submitted the financial reports for 2021-22 also. While Byju's dismissed concerns, if it fails the acid test, it could horrify the entire $3.5 B Indian edtech industry, seasoned investors, upcoming founders included. W......

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#pwc #pwcuk #frc #penalties #auditfailure #regulatoryaction #bigfour Financial Reporting Council (FRC), the UK regulator has ordered penalties to be paid by PwC UK for their failures on accounts of Kier and Galliford Try. PwC’s work was not of the required standard. PwC UK has been fined twice in a day by Financial Reporting Council (FRC) over audit failures of the two London-listed constr......

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#icai #educationandtraining #newcurriculum #charteredaccountantsregulations An Analysis of the Suggested Changes by Institute of Chartered Accountants of India ICAI - Part-II I would like to thank all my readers for viewing this post. Particularly those who have put in their valuable thoughts which I would like to include in my letter to Institute of Chartered Accountants of India on......

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#icai #educationandtraining #newcurriculum #charteredaccountantsregulations In the draft amendments for changes proposed by The Institute of Chartered Accountants of India (ICAI) in education and training which has been notified in the Official Gazette on 2nd June, 2022, there are some major changes which need to be discussed before any of us decide to submit his or her views to the Central Counc......

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#bigfour #deloitte #ey #kpmg #pwc #frc #arga #scandals #nonauditservices #professionalmisconduct   The long-awaited revamp comes after lawmakers and practitioners have promised to improve audit quality following a series of high-profile blunders like the collapse of Carillion Plc in 2018 and the BHS Ltd. failure in 2016. All major auditors have accepted the demand to change auditing since th......

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#kpmg #frc #rollsroyce #bigfour #noncompliance #criminalinvestigation The Financial Reporting Council (FRC), independent regulator in the UK and Ireland, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes, says KPMGS’ audit of Rolls-Royce PLC, major British manufacturer of aircraft engines, marine propulsion system......

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#amazon #futureretail #relianceretail #arbitration #businessstrategy #independentdirectors The Future-Reliance deal fell through in April after Future’s (Future Retail Ltd.) independent directors rejected it. But before that, Reliance Retail (Reliance) took over operations of a huge number of Future stores after it failed to pay rent. Reliance Projects & Property Management, a unit of ......

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#suprioghatak #frontrunning #insidertrading #vireshjoshi #axismutualfund #sebi What is Front Running? Front-running is a forbidden practice wherein a dealer, trader, or a mutual fund employee gets on to a big order to be placed by the fund or a big investor and gets in front of the trade. Large orders usually affect the stock price. The Axis Mutual Fund Story as of now Axis Mutual Fund, India's......

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SEBI confiscates Rs 3.9 cr from former CNBC-Awaaz anchor Hemant Ghai and family members. SAT quashes SEBI order, Ghai, family members to deposit Rs 3.9 cr #suprioghatak #sebi #hemantghai #sat #frontrunning  In February 2022, Securities and Exchange Board of India (SEBI) confiscated the haul of Rs 3.9 cr from former CNBC Awaaz anchor Hemant Ghai and his family members for dishonest trading......

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#sebi #brokers #compliance #fraud #suchetadalal Inspired by Sucheta Dalal  After reading Sucheta Dalal's article I feel like having viewed a good crime thriller in a lavish multiplex. It's a fact and not a story where the guilty always escape undetected and every time his employer (read - brokerage firm) goes all the way to protect him. And what does the regulator Securities and Exchan......

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#suprioghatak #frontrunning #insidertrading #axismutualfund #sebi What is the difference between front-running and insider trading? Both affect mutual fund unit holders and stock market investors. Our seventh-largest fund house, Axis Mutual Fund, has suspended two fund managers including its chief dealer and is investigating improprieties in the funds they have handled. While it is yet unk......

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#suprioghatak #zilingo #startups #sequoia Introduction Zilingo, a play on the word "zillion," was established in 2015 by CEO Ankiti Bose and cofounder Dhruv Kapoor. The idea came when Bose, holidaying in Bangkok, noticed many small and medium-sized shops without online presence. In 2015 Bose left Sequoia Capital where she was an investment analyst and launched her own company, Zilingo. At twen......

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#suprioghatak #abg #abgshipyard 5 years, 28 banks, Rs 23,000 cr debt. This is how it stands. How did the fraud go undetected for so long? How did it come to light? How was the money diverted? And what led to the delay in CBI registering the FIR? All million dollar questions. Let us try to find out all the answers. Like solving a Rubik's cube. A sinking shipbuilding firm is behind India’s......

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#suprioghatak #amazon #relianceretail #futureretail Amazon’s claim to ownership rests primarily on paper. Reliance has legal arguments of its own too, based on another set of contracts. But with one key difference—Reliance also owns the keys to the building. In terms of legal brilliance it would be hard to top what Amazon had done. But that was before we understood what Reliance did......

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#suprioghatak #rnarayanaswamy #icai CA Dr Narayanaswamy R, retired Professor of Finance and Accounting, Indian Institute of Management, Bangalore, and Chair, Technical Advisory Committee of the National Financial Reporting Authority. He says that the changes in the Chartered Accountants Act will improve accountability and governance in the audit profession. The ICAI must shed its ‘Licence......

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Ex-KPMG audit head fined record $100K by PCAOB over cheating scandal #suprioghatak #kpmg #pcaob #big4  KPMG US's former vice chairman of audit during KPMG's notorious cheating scandal was fined a record 100,000 by the Public Company Accounting Oversight Board (PCAOB) for his supervision failures.   Scott Marcello was condemned and Public Company Accounting Oversight Board (PCAO......

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