Latest Expert Exchange Queries
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: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARDS :: cpt :: empanelment :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
« ICAI »
  Result of the Chartered Accountants Final Examination held in November 2016 and Common Proficiency Test (CPT) held in December 2016 are likely to be declared on Tuesday, the 17th January 2017.
 Result of the Information Systems Audit [ISA] Assessment Test held on 24th December 2016 is likely to be declared on 17th January, 2017.
 Exposure Draft of Ind AS Taxonomy for Comments.
 The Rules regarding Condonation of delay in submission of Forms related to various regulations of the Chartered Accountants Regulations, 1988.
 The Rules regarding Condonation of delay in submission of Forms related to various regulations of the Chartered Accountants Regulations, 1988.
 CPE Events 9th December - 14th December 2016
 Certificate Course on Arbitration, Mediation & Conciliation on 13th, 14th , 15th, 20th, 21st, 22nd, 27th, 28th, 29th January, 2017 and 5th February, 2017 at Indore.
 Exposure Draft of Revised SA 720, “The Auditor’s Responsibilities Relating to Other Information” for Comments
 Announcement of setting up of Branch of WICASA at Satara
 CPE Events 2nd December - 7th December 2016
 President's Message - January 2017

ICAI favours 3-year rotation of auditors
January, 30th 2009

The self regulatory body for auditors, Institute of Chartered Accountants of India (ICAI) is pushing for compulsory rotation of auditors by companies amid mounting pressure from local financial institutions. A high-powered committee is currently examining the option and a decision will be taken, based on their recommendation, very soon, ICAI president Ved Jain told ET.

To begin with, ICAI is likely to ask auditors of top-listed companies to retire after a three-year term, he said. At the next stage, a mandatory rotation of auditors would be proposed for all public interest entities like private banks and insurance companies, Mr Jain said.

Currently, only public sector banks are required to rotate auditors, appointed from among RBI-empanelled list of audit firms, but there is no compulsion on private banks and insurance companies to follow the practice.

Industry insiders, however, feel that even if ICAI makes rotation of auditors mandatory, it may not help unless it is enshrined in the Companies Act or enforced as a regulator requirement by Sebi and Company Law Board. If ICAI can make it mandatory for its members to retire every three years, auditors will not have a choice but to adhere to it. But an amendment to the Companies Act will institutionalise the process, a chartered accountant said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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