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 »
 Launch of 1st Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at ICAI Bhawan, Sector- 62, Noida from 2nd June, 2018 to 24th June, 2018.
 Application Form for the Information Systems Audit (ISA) Assessment Test - June, 2018.
 Information System Audit - Assessment Test (ISA - AT), June 2018
 FAQs on SA 570 (Revised), ‘Going Concern’ (Applicable for audits of financial year 2017-18)
  Exposure Draft of Standard on Internal Audit (SIA), Planning the Internal Audit Assignment (Comments to be received by June 15, 2018)
 Four Weeks Residential Programme to be held from 4th June, 2018 to 1st July, 2018 at Centre of Excellence, Jaipur for Men Participants only.
 Inputs/ Suggestions Invited on Draft Revised Syllabus for the Post Qualification Course on Information Systems Audit formulated by Digital Accounting and Assurance Board of ICAI latest by 31st May, 2018.
 Exposure Draft of Accounting Standard (AS) 109, Financial Instruments (Comments to be received by June 30, 2018)
 Register for Exclusive First Batch of Spanish Language (60 Hours) for ICAI Members and Students at Delhi and Mumbai - 4th June 2018 - Last Date of Enrolment is 21st May 2018
 FAQ on accounting treatment of increase in liability due to enhancement of the gratuity ceiling.
 SAFA accepts recommendation of the ICAI for forming SAFA Women Empowerment Committee and replicating the digital initiatives of ICAI.

ICAI may quizz E&Y over Maytas evaluation
January, 15th 2009

As part of its investigation into the Satyam Computer case, the Institute of Chartered Accountants of India (ICAI) is likely to question Ernst & Young (E&Y) on the valuation exercise it undertook on the two Maytas companies.

An ICAI source told TOI that the institute would also look into the process used by E&Y to confer upon B Ramalinga Raju the `E&Y Entrepreneur of the year' award for 2007.

ICAI is already seeking explanation from Satyam's auditor, PricewaterhouseCooper (PwC), on Raju's self-proclaimed manipulation of Rs 7,000 crore.

"While PwC is being asked to explain the accounts, E&Y could also be questioned on its role,'' said the source.

When contacted, an E&Y spokesperson said: "While we are not aware of the actions by ICAI as suggested in your mail, should the institute seek any information, we would provide the same.''

Questions about Satyam's corporate governance practices were raised after the board of the company approved a proposal to acquire a 100% stake in Maytas Properties and 51% in Maytas Infra--both companies belonging to the promoter family.

The total outflow for both the acquisitions was estimated at US $1.6 billion, comprising $1.3 billion for Maytas Properties and $0.3 billion for Maytas Infra.

Following an investor uproar, the company decided to withdraw the proposal a day after it was announced.

If the deal had gone through, it would have depleted Satyam of its $1.1 billion surplus cash. This did not go down well with investors.

The lid on Satyam's fraudulent accounting blew off after Raju's confession in a letter early this week.

Soon after, ICAI came into the picture for a clean up act.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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