Latest Expert Exchange Queries

Make 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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT Audit :: cpt :: articles on VAT and GST in India :: form 3cd :: VAT RATES :: due date for vat payment :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

RBI does not approve appointment of PwC as auditors
December, 01st 2009

The government today said the Reserve Bank had not approved appointment of financial consultancy and auditing firm PwC as auditors for commercial banks from the financial year 2009-10 in the wake of alleged irregularities on its part in the Satyam fraud.

"After reporting of alleged irregularities on the part of auditors of M/s Satyam Computers, RBI has not approved appointment of PwC as statutory auditor in the scheduled commercial banks from the financial year 2009-10," Finance Minister Pranab Mukherjee told the Rajya Sabha.

The Reserve Bank had debarred two chartered accountancy firms, Lovelock & Lewes and Price Waterhouse and Co, erstwhile auditors of Global Trust Bank, he said.

However, after receiving representations in August, 2007 from both PwC and Lovelock, the RBI had advised banks that they may consider giving audit assignments to these firms from April 2008.

But when the multicrore Satyam fraud case surfaced and an allged role of auditors came to light, the RBI did not approve of giving auditing assignments to PwC.

Mukherjee also added that the the act governing the accountants under the ICAI did not provide for framing of rules or regulations for governing the services of multinational accounting firms.

"Therefore, the multinational accounting firms are outside the purview of the ethical and regulatory framework of the ICAI," Mukherjee said.

The provisions of the CA Act and the Regulations are applicable to the members and firms of chartered accountants registered with the Institute of Chartered Accountants of India (ICAI).

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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