Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: cpt :: VAT RATES :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT
News Headlines »
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide
  Central Goods and Services Tax (Second Amendment) Rules, 2018
 Income Tax Return Filing Deadline: Waiver On LTCG Tax To End On 31 March. Details Here
 Income tax returns (ITR) filing: Top mistakes that can be very costly

ICAI planning to organise Indian auditing and accounting sector
November, 19th 2010

Faced with stiff competition from the multinational accounting and auditing firms, mainly the Big Four, the Institute of Chartered Accountants of India (ICAI) is planning to organise the Indian auditing and accounting sector.

The apex accounting regulator is contemplating capacity building and consolidating smaller firms to give competition to the multinational firms like KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers.

For the purpose, the institute is calling a meeting of bigger Indian firms for discussing the consolidation strategy.

We would be calling a meeting of bigger domestic firms and will ask them what role they can play in building small and medium practitioners of the country.

We want to know how can they help in capacity building...Big multinational firms have sophisticated tool kits, research and resources...Indian firms need to come together and consolidate, ICAI president Amarjit Chopra told The Indian Express.

The institute has already held a meeting with the Big Fours and asked them not to take over small but strong local auditing firms as it would kill competition.

The ICAI has however said the foreign firms can enter into networking agreements with local firms. The sources say that the multinational firms have already agreed to this.

Chopra also said a meeting would be organised with the past presidents of the institute on the issues concerning surrogate practices by the multinational auditing and accounting firms in the country.

We are planning to organise a meeting of the past presidents too to discuss issues concerning bigger firms where we will seek resolution of the matter regarding surrogate practices. We want to seek their views on the subject, he added.

The ICAI is trying hard to regulate the functioning of multinational accounting firms in the country. However, allegedly, these companies practice under surrogate names and hence do not fall under the purview of the ICAI directly. ICAI can act only against its members or the firms registered with it in case of any malpractice or defaults.

The Big Fours have come under severe criticism after the Satyam fraud where PricewaterhouseCoopers was involved in auditing the accounts of the IT firm. Under fire from several quarters, the big fours have also agreed to share certain information with the institute.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions