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: due date for vat payment :: TDS :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: form 3cd
 
 
« 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
 Reconstitution of Group pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) - Reporting in Assessment Proceedings’ for the year ended March, 2014
 Reconstitution of Group to look into the intricacies involved in areas pertaining to the disciplinary mechanism
 Reconstitution of Group to suggest ways and means for augmenting the income of Chartered Accountants Benevolent Fund

ICAI to set up ratings system for corporate governance
March, 06th 2009

The Institute of Chartered Accountants of India (ICAI) is planning to set up a rating system for corporate governance for listed and unlisted entities. It is aiming to bring in internationally best practices and new code of conduct. The apex statutory body of CAs, established under the Chartered Accountants Act, 1949, is in the process of forming a high-power committee to shape the model code of conduct. The proposed group will consist of 7-9 members from various fields, besides CAs.

ICAI is the worlds second-largest accountants body with membership base of 1.50 lakh professionals and 4.50 lakh students. The institute intends to take an aggressive stand after the Satyam Computer Services promoters and auditors were accused of misconduct. The new code of conduct would be primarily for its members who will implement it in their respective organisations and among clients. However, it will make an attempt to get recognition from regulators and authorities like Sebi, RBI and Irda, among others.

Under different regulations, we have an existing framework for corporate governance. However, industry is following it for compliance purpose only and not in true spirit, ICAI president Uttam Agarwal told ET. He added that the institute would conduct awareness programmes for its members, industry and even regulators.

It is learnt that ICAI is eyeing to tap the large section of industrial and financial houses that are not covered under the Clause 49 of the Listing Agreement to the Indian stock exchanges. The decisions regarding setting up a group for new code of conduct and rating system were taken during the recent meet of members of committee on corporate governance in Delhi. Mr Agarwal, who also heads the six-member special committee to look into the Satyam fiasco and role of auditors, also attended the meet.

We already have different regulatory frameworks in place to ensure good corporate governance. However, we intend to keep pace with the changing time and have a better code of conduct in place. ICAI, being the apex body for CAs, can play an important role in ensuring good governance, said ICAIs committee on corporate governance chairman Pankaj Jain. He added that ICAI is already working closely with the Union ministry of corporate affairs National Foundation for Corporate Governance.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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