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
Latest Expert Exchange
« ICAI »
 CPE Events 16th April - 21th April 2018
 Invitation to Members to Empanel as a Resource Person to Conduct Investor Awareness Program
 Accounting Policy Changes (Proposed amendments to IAS 8)
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15
 Group on Vision 2024 for Global Presence of Indian CAs
 Educational Material on Indian Accounting Standard (Ind AS) 103, Business Combinations
 Invitation to Empanel as a Resource Person to Conduct Various Programmes for the Benefits of Members in Industry.
 Reconstitution of Group for Review of Examination, Evaluation & Testing
 Advertisement for Invitining Consultants to work with ICAI Accounting Research Foundation on Applied Research Project (Chennai)
 Auditing and Assurance Standards Board – Expert Panel for Addressing Bank Branch Audit Queries for FY
 Revised Standard on Auditing (SA) 299, “Joint Audit of Financial Statements”

Meeting with Hon'ble Minister of State for Finance, Shri Jayant Sinha
November, 07th 2015

CA. Manoj Fadnis, President, ICAI and CA. Anuj Goel, Member, Central Council & Chairman, Professional Development Committee met and represented before Hon'ble Minister of State for Finance, Shri Jayant Sinha on 6th Novemeber, 2015 to discuss the issues involved in the current procedure of appointment of Central Statutory Auditors and Branch Statutory Auditors of Public Sector Banks (PSBs).

In the meeting the inadequacies arising out of the said procedure of appointment of Auditors of Public Sector Banks (PSBs) was explained. It was mentioned that the managerial autonomy is correct to the extent of day to day decisions making but nowhere the authority to appoint the auditor lies with the persons whose decisions are to be audited. 

Such delegation in the long run is a great peril to the economy itself. ICAI recommended that appointment of Central Statutory Auditors and Branch Statutory Auditors of Public Sector Banks (PSBs) may be done by the selection committee comprising of representative from O/o C&AG, Indian Bank’s Association & Ministry of Finance (as done for financial year 2011-12, 2012-13 & 2013-14). ICAI requested that the names of auditor(s) may be recommended by Selection Committee to the banks and selection may be made accordingly. 

The Hon’ble Minister has noted the concern of the ICAI and assured to take forward the matter. 

CA. Anuj Goyal, Chairman,
Professional Development Committee
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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