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 »
 Result of CPT, Foundation, Final(Old) & Final(New) Examination held in Nov / Dec 2018 is likely to be declared on Wednesday, the 23rd January 2019, around 6 P.M. at
 Guidance Note on Audit of Banks 2019 edition: Section C - Bank Branch Audit other than Foreign Exchange Transactions issued by the Auditing and Assurance Standards Board
 Guidance Note on Reports In Company Prospectuses (Revised 2019) issued by the Auditing and Assurance Standards Board
 CPE Events 21th January -26th January2019
  Guidance Note on Audit of Banks 2019 edition: Section A - Statutory Central Audit issued by the Auditing and Assurance Standards Board
 Suggestions from Members of ICAI for Publication on Professional Opportunities
  Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test - Computer Based Mode
 Important Announcement May 2019 CA Examinations
 ICAI Convocation 2019 (IInd Round) on 1st February, 2019
 Result of the Information Systems Audit [ISA] Assessment Test held on 22nd December 2018 is likely to be declared on 23rd January, 2019 around 6.00 PM.
 Results of the Chartered Accountants Final Examination (Old course & New Course), Foundation Examination and Common Proficiency Test (CPT) held in November/December, 2018 are likely to be declared on Wednesday, the 23rd January 2019 around 6.00 P.M.

ICAI will object even if KPMG's audit arm works for Satyam
January, 17th 2009

The Institute of Chartered Accountants of India (ICAI), which regulates the profession of chartered accountants in the country, today said it would raise objections even if KPMGs Indian audit arm BSR and Associates was engaged to do audit work by the scam-hit Satyam Computer Services Ltd.

KPMG, one of the big four audit firms in the world, was asked by the government-appointed board of Satyam to restate the accounts after B Ramalinga Raju, the companys founder, admitted to inflating the profits.

Top officials of the institute said BSR and Associates cannot undertake audit work using the name of KPMG as the foreign firm is not registered with ICAI.

ICAI had written a letter to the Satyam board communicating its stand. We have written to the Satyam board that KPMG cannot be appointed as an auditor for Satyam as it is not our member, ICAI President Ved Jain told the media here. He added that the Satyam board now had six members, one of them being a chartered accountant. They would consider the issue at their meeting tomorrow, he added.

Even if KPMG was doing a re-statement of financial accounts, Jain said, this was an assurance service, which involved accounting and auditing.

Reacting to the ICAI statement, a KPMG spokesperson said, We are working with the new Satyam board. The scope of work and terms of its reference are being discussed... It is our understanding that the scope of work to be finalised is not reserved for chartered accountants registered with ICAI.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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