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: cpt :: TDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: list of goods taxed at 4%
 
 
ICAI »
 President's Message - May 2017
 Commencement of the Next Batch of the Certificate Course on Wealth Management and Financial Planning to be commenced on 3rd June, 2017 at Chennai : An initiative of CCBMP, ICAI
 Commencement of the Next Batch of the Certificate Course on Wealth Management and Financial Planning to be commenced on 8th July, 2017 at Kolkata : An initiative of CCBMP, ICAI
 Group to look into the intricacies involvced in areas pertaining to the Disciplinary Mechanism
 Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian Accounting Standards
  Requirements for passing Information Systems Audit (Assessment Test)
  Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Reconstitution of Group to study the existing norms for the appointments/re-appointments of statutory / internal auditors
 Reconstitution of Group to study and suggest changes in the Guidelines relating to Networking of CA Firms

ICAI - If director resigns, firm's accounts will be checked
March, 17th 2009

The Institute of Chartered Accountants of India, the apex body to regulate the profession of chartered accountancy in India, plans to scrutinise the accounts of companies from which independent directors have quit in the last two months.

"This decision was taken in our financial review reporting board and it will depend on the situation under which independent directors would have quit," said ICAI President Uttam Prakash Agarwal.

The decision comes in the backdrop of the Rs 7,800 crore (Rs 78 billion) fraud at Satyam Computer Services [Get Quote]. Independent directors had quit the Hyderabad-based software services firm after a failed attempt to acquire two companies that were related to Satyam's promoter, B Ramalinga Raju. Many independent directors in other firms have also resigned from their board positions in recent months.

"It is possible that the independent directors might have left on account of personal reasons or due to some other reasons, but if any director has left intentionally and was aware of any wrongdoing, then the matter would be reported to the regulator concerned," added Agarwal.

The FRRB has also decided to review 100 companies for the financial year 2007-08, along with completion of the review of 64 pending cases. The board randomly selects listed companies and scrutinises the auditors's report to check whether the prescribed procedures were followed. Based on their finding, the FRRB is entrusted with powers to take suo motu action against the auditor.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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