JAMIL KHATRI
Uniqus Consultech raises $20 mn in Series C funding
Uniqus Consultech has secured $20 million in Series C funding from Nexus Venture Partners and Sorin Investments, doubling its valuation to $250 million just a year after its $100 million Series B round. The fast-growing consulting firm will use the funds to expand globally, develop AI-powered tools, and enter new service areas like valuation and diligence.
ESG consulting firm Uniqus in talks to raise $20 million in Series C
Uniqus, a US-incorporated professional services firm co-founded by ex-KPMG and EY executives, is in advanced discussions to secure $20 million in Series C funding. The firm, specializing in ESG accounting and consulting, is attracting interest from global investors like Bessemer, Accel, and Lightspeed, targeting a valuation between $200-250 million.
Uniqus Consultech launches its tech consulting practice
Uniqus’ Tech Consulting practice will offer four core solutions: digitisation & automation, data & analytics, artificial intelligence & machine learning, and technology & cyber risk. This practice will be supported by Uniqus’ current and future proprietary tech products, including UniQuest (an AI-powered research tool) and ESG UniVerse (a cloud-based ESG solution).
Sidbi, NSIC subsidiary to back startup fund Sorin
Sorin Investments had raised a corpus of over ?1,000 crore in August. Sorin has deployed about ?70 crore till date in two startups. It plans to invest an additional about ?70 crore in two more transactions by 2023, people said.
Accounting company Uniqus raises $12.5m in Series A fundraise
The startup, which has been co-founded by ex-Big Four leaders - Jamil Khatri, former global head of accounting advisory services at KPMG, and Sandip Khetan, former head of financial accounting advisory services at EY India - also launched its operations on Thursday.
Former KPMG, EY execs launch audit consultancy, raise $12.5 million from Nexus, others
It also announced that it has acquired SustainPlus, which provides ESG consulting to companies in India, Europe, the Middle East, and the US since 2017, and appointed its founder and chief executive Anu Chaudhary as the global head of ESG (environmental, social, and governance).
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Uniqus Consultech raises $12.5 million in Series A funding
The startup, which has been co-founded by ex-Big Four leaders—Jamil Khatri, former global head of accounting advisory services at KPMG, and Sandip Khetan, former head of financial accounting advisory services at EY India—also launched its operations on Thursday.
EY India's former audit chief Sudhir Soni to join KPMG
Soni used to head EY’s audit practice in India until September 2020 and was in charge of the firm’s audit affiliate SR Batliboi and Co LLP. Thereafter, he stepped aside and partner Arvind Sethi took over. Soni had remained as a senior auditor with the firm until August 2022, when he signed off.
Jamil Khatri, KPMG India’s audit spearhead steps down
The exits have taken place at a time when Yezdi Nagporewalla, the newly elected CEO of KPMG India, is about to take over the corner room from current Chairman and CEO Arun Kumar, whose tenure ends on February 7, 2022.
KPMG India begins hunt for CEO’s successor to take over next year
The new chief will take over at a time when the Big Four audit firms are trying to grow their non-audit advisory businesses and gunning for market share in technology-related services.
Sebi forms panel to frame rules for direct listing of Indian firms abroad
Listing of firms incorporated in India is not permitted on foreign exchanges and vice versa.
Arun Kumar likely to become next KPMG India CEO
Kumar will replace Richard Rekhy who put in his papers in November last year, provided the firm’s Indian partners ratify his appointment. The ratification vote will be held on February 4, sources said.
Elections at KPMG India for the second time in a year after CEO Richard Rekhy announced retirement
Rekhy was re-elected unopposed for 4 years but last month a big exodus from the advisory team and a partner coup led to circumstances that ultimately ended in Rekhy’s removal.
State-run banks to beat rising tide of bad loans as India switches to IFRS
“Provisions for loan losses would have to be created on an expected loss model as defined in Ind-AS 109, the standard which has been finalised."
Government issues new rules for auditors
The government on Monday issued the rules governing the audit and auditors, which also contain details of mandatory rotation of auditors.
New Companies Bill to bestow more discretionary powers on government
This is a marked increase, in absolute and relative terms, over the current Companies Act 1956, where this phrase appears in 108 of the 658 sections, or 16%.
Mark-to-Market advantage on forex derivatives may go
Mark-to-market loss or an expected loss shall not be recognised under tax accounting standards, or TAS. These would be accounted for only on realisation.
Govt relaxes accounting rule for foreign exchange loans of companies
The corporate affairs ministry has relaxed an accounting rule for foreign exchange loans of companies, bringing relief to businesses facing huge losses due to the rupee’s free fall.
Uncertainty over GDRs keeps Indian companies on tenterhook
Indian issuers of global depository receipts face an uncertain prospect as a three-year relaxation granted by the European Union.
35 new standards notified, but accounting system fails to meet IFRS norms
This has defeated the purpose of migrating to the International Financial Reporting Standards, or IFRS, which proposes a uniform accounting standard globally to ease investment hurdles, say professionals from the accounting and auditing sectors.
Companies will get to use real value for tax purpose in IFRS too
The fair value accounting of assets and liabilities under the International Financial Reporting Standards, or IFRS, will give rise to notional profits and losses because of market fluctuations in prices.
New accounting norms for retirement benefits
Government will now allow firms not to show the effect directly in their books of accounts but reflect them separately in a reserve account, said an official in the government, requesting anonymity.
Retirement liabilities can be shown as reserves
The country’s apex body on accounting standard has cleared way for a change in the way Indian companies account for their employee’s post-retirement benefits like gratuity.
India Inc to adopt IFRS framework
Accountants are busy helping India Inc adopt the international financial reporting standards by April 2011.
India Inc to adopt IFRS framework
Accountants are busy helping India Inc adopt the international financial reporting standards by April 2011.
CBDT-ICAI group on global switch set
CBDT and ICAI have constituted a study group to identify and address direct tax issues that will affect convergence of India’s accounting standards with International Financial Reporting Standards (IFRS).
ICAI told to help CPSEs embrace global accounting norms
Govt has asked ICAI to prepare a roadmap for public sector companies to meet international accounting norms that would make their financial statements easily comparable with that of companies in more than 150 nations.
Real estate sector's balance sheet to shrink on IFRS adoption
The adoption of International Financial Reporting Standard (IFRS) will erode profits of real estate companies.
Faulty financial statements may invite regulator's ire
Corporate houses will soon lose the leeway they have in getting away with errors they detect in previous years' financial statements.
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