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: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: empanelment :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

Banks must pull up their socks, says ICAI's Amarjit Chopra
March, 11th 2010

The newly elected President of the Institute of Chartered Accountants of India, Amarjit Chopra said he is expecting amendments to the Companies Act and feels the banking sector needs to pull up its socks.

"The banking sector will have to work more. They will have to take a call, particularly the Reserve Bank, as to what extent they want to continue with prudential norms. Banks may have to change software. The problem is that it will take six months before they have to implement International Financial Reporting Standards (IFRS)," Chopra said in an exclusive interview.

He is awaiting amendments to the Companies Act for IFRS convergence. "The IFRS rollout should be in phases for corporates to be prepared." However, he was quick to add that insurance companies are well prepared. ICAI, he added, is studying the impact of IFRS on telecom, power, oil & gas sectors and feels the exemptions from IFRS convergence should be absolutely minimal.

ICAI, he said, is likely to come out with a guidance note on accounting standards for the oil sector soo. "We need higher disclosures in related-party transactions."

According to him, it is important to improve the perception on ICAI's disciplinary mechanism. He said CA registrations grew 8-9% in 2009 with 10,000-13,000 members added annually.

Speaking on ICAI's investigation into the Satyam scandal, Chopra says it will wind up investigations by June. "The ICAI council would meet next week on the second Satyam draft report." He does not see any impact of the Securities Exchange Board of India's rejection of Price WaterHouse consent application on ICAI.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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