Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: TDS :: form 3cd :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: due date for vat payment :: articles on VAT and GST in India
 
 
ICAI »
 ICAI - Guidance Note on Report Under Section 92E of The Income-Tax ACT, 1961 (Transfer Pricing) (Revised 2017)
 FAQs on Ethical Issues relating to GST
 ICAI International Conference, 8-9 December 2017, Mumbai
 Report on Audit Quality Review (2016-17) of the Quality Review
 CPE Events 13th November - 18th November 2017
 Information Systems Audit (ISA) Course Assessment Test which is open to the members of the Institute, will be held on 23rd December, 2017 (Saturday) from 9.00 AM to 1.00 PM (IST) at 61 Cities.
 ICAI Survey for Capacity Building and Global Presence of Indian CA Firms - Request to submit response by November 15, 2017
 Paper 2, Strategic Financial Management of Final Examination, Group - I scheduled on 3rd November 2017 (Friday) at Chennai only, was postponed, on account of heavy rains and disruption of normal life there. The said examination will now be held 17th November 2017 (Friday).
 Group to Review the Criteria for Formation of Branch
 Postponement of Group I Paper- 2 Strategic Financial Management of Final Examination, Scheduled on 3rd November, 2017 (Friday) in Chennai (in The State of Tamil Nadu) Only.
 President's Message - November 2017

ICAI to penalise RCom auditor
December, 19th 2009

Sequel to denial of special audit findings commissioned by DoT.

The Anil Dhirubhai Ambani Group (ADAG) has registered a formal complaint with the accounting regulator the Institute of Chartered Accountants of India (ICAI) - against the government-appointed auditor for claiming that its flagship company, Reliance Communications (RCom), had allegedly under-reported revenues and evaded licence fees during 2006-08.

The complaint has gone from Reliance Communications Infrastructure Ltd (RCIL), a subsidiary of RCom, on December 11. The company alleges the special auditor - Jaipur-based Parekh & Co failed to observe the basic standards of professional conduct while auditing RComs accounts as sought by the department of telecommunications a few months earlier.

RCom has already denied the allegations made in the Parekh report and now wants ICAI to take disciplinary action against the auditor. According to sources, the matter was taken up by RCIL as there was a reference to the company in the audit report. The disciplinary committee of ICAI will look into the matter.

We have received a complaint from Reliance Communications. We have an internal mechanism to look into such complaints, an ICAI official confirmed.

The special auditor said it found RCom under-reported wireless revenues of Rs 2,799.19 crore to the Telecom Regulatory Authority of India for the financial years 2006-7 and 2007-8, costing the government Rs 315.9 crore in fees (that are charged as a percentage of revenue).

Parekh & Co was appointed by the department of telecommunications (DoT) a few months earlier to examine allegations of licence fee evasion by the Cellular Operators Association of India (COAI), the association of GSM telecom players.

RCom had denied these charges, saying the observations made by the special auditor were completely unilateral, biased and prejudiced. Anil Ambani, ADAGs chairman, had said the special auditors had far exceeded their terms of reference and recorded unwarranted and completely incorrect findings on matters beyond the scope of their audit, thereby again demonstrating their bias and prejudice.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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