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The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.
Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat
PREVIEWThe U.K. firm was additionally sanctioned for allegedly failing to reasonably supervise an unregistered audit firm, Romanian audit firm KPMG Audit SRL, in four consecutive audits of Endava PLC, a British technology services company. KPMG U.K. was found to have also made several inaccurate PCAOB filings about the involvement of unregistered firms in certain audit work. The PCAOB imposed a $600,000 penalty for the alleged failings around unregistered audit firms, which KPMG U.K. didn’t admit or deny. KPMG U.K. has reviewed the way it works with other firms, enhancing controls and providing additional training, Cath Burnet, U.K. head of audit at KPMG, said. The U.K.’s audit and accounting regulator in a July letter to seven audit firms, including KPMG, said that it is “deeply concerned” about audit professionals cheating on external professional exams and internal assessments.
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