Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: empanelment :: due date for vat payment :: VAT RATES
 Question Bank on IBBI Limited Insolvency Examination
 Here's how you can fix it Made a mistake while filing tax returns?
 Government Nomination on the Bench II and Bench III of the Disciplinary Committee Bench II and III
 Stringent Action Against Adoption of Unfair Means
 Guidance Note on Audit of Banks 2018 edition issued by the Auditing and Assurance Standards Board
 Assessment Test of the Certificate Course on International Taxation organized by the Committee on International Taxation of ICAI -15th April, 2018 (Sunday)
 Advisory for the Members regarding Allocation of Work among the Joint Auditors in case of Bank Audits
  Group to Study the Amendments Proposed by the High Level Committee set up by the MCA
 Important Announcement - Membership
 Group to Study the Amendments Proposed by the High Level Committee set up by the MCA
 CPE Events 26 Februaary - 10th March 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 2018 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