Big 5-Arthur Anderson is Alive-after 16 yrs

Big 5-Arthur Anderson is Alive-after 16 yrs

Arthur Anderson- you must have heard this name especially if you are in Accounting and Finance Domain. The firm was one of the Big 5 accounting and audit firms along with PWC, EY, KPMG & Deloitte but filed for bankruptcy after Enron scandal in 2001. The firm is coming back after about 16 years and will have offices in 16 countries across 5 continents including India. The firm has plans for opening offices in Canada & China soon. Newspapers in US and across the globe had headlines ” Arthur Andersen’s…

Charitable trusts-why controlled by big corporate houses

Charitable trusts-why controlled  by big corporate houses

I do not understand why government allows big business houses to control charitable trusts. Charitable trusts are meant for specific purpose mainly to help humanity in one or another way. Charitable trusts should not be allowed to hold more than 1% of shares of for profit organization or Rs 5 crores, which ever is more. Otherwise purpose of giving tax benefit to trusts will be defeated as they will be inclined to deviate from their core purpose and will serve interests of for profit organization. Indian government has allowed new…