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: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: VAT RATES :: form 3cd :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: cpt
 
 
ICAI »
 Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements
 Application Form for the Information Systems Audit (ISA) Assessment Test - June, 2017
 Formation of a Group for Reviewing the Decision Regarding Noting of Change in Constitution on Account of Leaving of Partner of Firm and Allied Issues.
  Three Days Intensive Class Room Training for IBBI - Limited Insolvency Examinations in two batches at Chennai. Batch-1: 2nd to 4th June, 2017; Batch 2-23rd to 25th June, 2017
 Announcement on Advertising by members in practice engaged in Coaching/Teaching Activities
 Constitution of Group related to all issues of Bank Audit including reduction in SCAs Cooling Period, distribution of Bank Branch Audit
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 9
 Announcement - For the attention of candidates appearing in CA exams at exam centres in Tamil Nadu.
 CPE Events 15th May - 20th May 2017
 Information System Audit - Assessment Test (ISA - AT) New Syllabus, June 2017
 Next batch of the Certificate Course on Cooperatives at Mumbai from 27th May, 2017

ICAI finds Haribhakti & Co. guilty
January, 20th 2010

The accounting regulator is finally swinging into action in the multiple demat account scam that was detected over 3 years ago.

The Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI) has found the internal auditors Haribhakti & Co. guilty of negligence while checking the books of brokerage firm - Karvy. ICAI's Disciplinary Committee has found one audit partner and audit manager of Haribhakti & Co. guilty.

Sources say that of the 3 charges that were framed, they have been found guilty on only one charge.  The Central Council, which is the highest decision making body of ICAI, will now either ratify or overrule the report of the disciplinary committee.

The Central Council is likely to decide the fate of the 2 auditors next month. To give a brief background of the case, Sebi had unearthed a multiple demat accounts scam in the year 2006.

A person named Roopalben Panchal opened thousands of demat accounts and illegally cornered shares in various IPOs. Sebi, in its April 2006 order, among others, faulted the internal auditors of Karvy Haribhakti, for failing to detect thousands of demat accounts being opened with the same address.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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