News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Professional Updates »
 Certificate Course on Forex and Treasury Management –Forthcoming Batches at Noida & Mumbai
 Result of the Information Systems Audit [ISA] Assessment Test held on 28th December 2019 is likely to be declared on Thursday, 16th January 2020 (evening)/ Friday, 17th January, 2020.
  DAAB of ICAI releases Digital Competency Maturity Model for Professional Accounting Firms - Version 2.0 and Implementation Guide
 Educational Material on Indian Accounting Standards 116, Leases
 Results of the Post Qualification Course Examinations i.e. International Taxation Assessment Test, Insurance & Risk Management, and International Trade Laws & WTO are likely to be declared on the Monday, February 3rd, 2020 (evening)/Tuesday, February 4th, 2020.
 Register for Exclusive Fourth Batch of French Language (108 hours) for ICAI Members and Students at New Delhi - 20th January, 2020.
 Four Weeks Residential Programme to be held from 27th January, 2020 to 23rd February, 2020 at Centre of Excellence, Jaipur for Male Participants only.
 Announcements - MEF 2019-20
 What is included in Cash and Cash equivalents?
 What is included in Net Block of Property, Plant & Equipment (PPE)?
 What is to be mentioned under Gross Turnover/Gross Receipts?

Mangalore: ICAI High Level Committee to Probe Satyam Fiasco - K Raghu
January, 20th 2009

Institute of Chartered Accountants of India (ICAI) has formed a six-member high level team to go into the Satyam Computer Services fiasco that has drawn international attention, informed ICAI central committee member K Raghu.

He was speaking after inaugurating the investor awareness programme organized here under the joint aegis of  the ICAI  Southern India Regional Council Mangalore branch and Canara Chamber of Commerce and Industry on Monday January 19.

"ICAI vice president Uttam Prakash Aggarwal is heading the committee. The committee is expected to file its report within a month," he divulged. "The ICAI has already serves notices on the auditors of Satyam and also the partners of the audit firm who signed the report. ICAI will initiate further action after a report is received thereof," he explained.

"ICAI has already recommended to the government to enforce a system of joint audit for listed companies. Along with the auditors appointed by the company, an external auditor appointed by the Securities and Exchange Board of India (SEBI) should conduct the audit. In addition, we have recommended that the private sector banks also should be subjected to audit by the Reserve Bank of India auditors/inspectors, on the lines of the public sector banks, he explained.

At present, there are about 1.55 lac chartered accountants in the country, while three lac students are pursuing the chartered accountants degree course. ICAI has undertaken several measures for the benefit of the chartered accountancy sector. As regards the membership, we have entered into an agreement with the Chartered Accountants Institute England and Wales. This will immensely benefit our chartered accountants, "he claimed.

"Considering the increased demand for the profession, an Accounts Technicians course will be started soon. This will be the second layer of the chartered accounts professionals. For enabling the CA graduates to own additional skills, certificate courses in six subjects will also be started," he added. He further informed that in addition, the ICAI has also been conducting continuing education workshops.

"ICAI has been conducting awareness programmes to keep the investors posted of the latest position. Last year, 87 such programmes had been organized,"he said. He went on to explain about the investment opportunities, action plans and specific precautions that need to be taken by the investors before investing.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting