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: TDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt
« ICAI »
 Public Notice in the matter of wrong marketing of ICAI course by private colleges/educational institutes.
 Guidance Note on Audit of Consolidated Financial Statements (Revised 2016) issued by the Auditing and Assurance Standards Board
 Clarifications regarding exemptions in a paper(s) in CA Examinations
 Request to give suggestions on the Draft Rules and Regulations to the Insolvency and Bankruptcy Code, 2016 as issued by the Ministry of Corporate Affairs.
 Hosting of exemption(s) in a paper granted in Intermediate and Final examinations, valid for November 2016
 The Chartered Accountants’ Students Benevolent Fund (CASBF)
 Details of Roll Nos. and Exam Centres of PQC Exams-Nov. 2016
 Group to review and realign the provisions of Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988
 Request for improving of annual filing compliance by pursuing companies so as to help the Ministry of Corporate Affairs in achieving the targeted compliance.
 Zone-shifting of candidates for NOVEMBER - 2016 CA Exams
 CPE Events 10 October - 15 October 2016

ICAI chief: Panel report on role of audit head soon
February, 14th 2011

The disciplinary action committee of the Institute of Chartered Accountant of India (ICAI) would soon come up with its final report on the role of internal audit head of erstwhile Satyam Computer Services, VS Prabhakar Gupta. Gupta has been charged by the Central Bureau of Investigation of breach of trust and forgery

The disciplinary committee is doing the needful and if need be it would take appropriate action, G Ramaswamy, president, ICAI, told reporters on Saturday just after taking over as the head of the institute. We cannot say how long it would take to come to a conclusion.

The ICAI has issued separate notices to six auditors including Gupta, in connection with the Satyam fraud case.

With a view to bringing in more accountability, the institute has also sought changes in the statutes to impose penalties on erring firms.

We have sent a proposal to the government to allow us to take action against erring CA firms. We have proposed that  steps like cancellation of registration or imposition of fine of up to Rs 1 crore on firms found guilty of colluding with companies to commit a fraud, he said.

The ICAI had earlier sent its recommendations to the government, seeking more teeth and regulatory powers. The institute has also underlined the need to be allowed to take action against any audit firm in case of discrepancy or doctoring of records. At present, individual chartered accountants are held responsible for any accountancy fraud but there is no accountability linked to audit firms.

The proposal is with the government and we are hopeful that it should be done soon, Ramaswamy said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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