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 »
 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.
 CPE Events 14th May - 19th May 2018
 Four Weeks Residential Programme to be held from 28th May, 2018 to 24th June, 2018 at Centre of Excellence, Hyderabad for Women Participants only.
 Regarding omission of Rule 9 of Chapter X (Audit and Auditors) of the Companies Act 2013 pertaining to Section 147 (5) (Punishment for Contravention) of the Companies Act 2013
 Be an expert on the panel of Women Entrepreneurship Platform (WEP) of NITI Aayog
 Committee for Capacity Building Members in Practice (CCBMP), ICAI: A publication of E-Book on Quick Insight-2018
 Advisory for the candidates of CA examinations - May 2018
 Examination Announcement - Change of Venue on 13th May, 2018 (for one day only), in Akola City (Maharashtra)

ICAI yet to conclude hearing on PW role in GTB audit
January, 17th 2009

Even as the ICAI's Special Committee has got down to prove Price Waterhouse's role in auditing Satyam, it may want to take a look at its past track record. In its latest progress report to the Parliament last month, the Finance Ministry said the disciplinary committee is yet to conclude hearing on Price Waterhouse's role in the audit of Global Trust Bank.

Six years after a probe had been ordered by the Joint Parliamentary Committee and the hearing on Price Waterhouses role in Global Trust Bank has still not concluded.

Six years is quite a long time for such a high powered committee to conclude the hearing. The Finance Ministry has reported to the Parliament that the Joint Parliamentary Committee (JPC) had called for Institute of Chartered Accounts of Indis (ICAI) probe into Pricewaterhouses role in Global Trust Bank (GTB) and that the Committee of ICAI is yet to conclude hearing in Pricewaterhouse's audit of GTB.

Pricewater had audited Global Trust Bank for the periods 20012002 and 20022003. The Finance Ministry reported to the Parliament that RBI had referred the matter to ICAI in 2003. ICAI had called for comments from the auditor in February 2005 and it had also issued a show cause notice to Pricewaterhouse in December 2006. The ICAI referred the matter to its Disciplinary Committee in August, 2007. 

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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