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: list of goods taxed at 4% :: articles on VAT and GST in India :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: ACCOUNTING STANDARDS :: empanelment :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: Central Excise rule to resale the machines to a new company
 
 
ICAI »
 Supplementary Notification of Common Proficiency Test scheduled to be held on 18th June, 2017 (Sunday).
 Regarding Inviting application by MCA for filling of 12 posts of Technical Member in National Company Law Tribunal under Section 408 of the Companies Act, 2013
  Certificate Course on Forex and Treasury Management - forthcoming batches at Mumbai, Chennai & Noida.
 Constitution of Group for formulating the Detailed Action Plan - Ministry of Corporate Affairs
 CPE Events 20th March - 25th March 2017
 Invitation for contributions to Question Bank in respect of Information System Audit-(Assessment Test (ISA-AT) (New Syllabus)
 Reconstitution of Group for Rohini Land at Delhi
 Group to review the Terms of Reference of Infrastructure Development Committee
 Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May/ June 2017.
 Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership
  Regarding Empanelment of professionals having at least fifteen years of continuous practice as a Chartered Accountant with RD MCA as Mediator or Conciliator for the year 2017-2018

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