Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: due date for vat payment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company :: empanelment :: cpt :: articles on VAT and GST in India
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

ICAI disciplinary panel holds auditor guilty of misconduct
March, 24th 2010

The disciplinary committee of the Institute of Chartered Accountants of India (ICAI) has held the former auditor of Bhubaneswar Stock Exchange (BhSE), Gokul Chandra Das of M/s. G.C. Das & Co, guilty of professional misconduct.

He has been found guilty under clause 5, 6, 7 and 9 of the part I of the second schedule read with section 21 and 22 of the Chartered Accountants Act, 1949 pertaining to charges of non-disclosure and camouflaging of material facts in the auditors report.

The council of the ICAI, the apex regulatory body of the Chartered Accountants, had earlier taken a prima facie opinion against the professional misconduct of auditor Das and ordered an enquiry into the matter by its disciplinary committee.

The disciplinary committee, headed by Uttam Prakash Agarwal, former vice-president, ICAI, has already submitted its report to the council for consideration under the provisions of regulation 16 of the Chartered Accountants Regulations, 1988, sources said.

The ICAI council is slated to meet and consider the matter on 25th March, 2010. If the concerned auditor is found guilty, then the matter shall be forwarded to the jurisdictional high court, Orissa High Court, along with the recommendation of the council as per the provisions of Section 21(5) of the Chartered Accountants Act, 1949.

It may be noted, Bhubaneswar Stock Exchange (BhSE), a public institution, had earlier lodged complaint against the auditor under Clause 5, 6, 7 and 9 of the Part I of the second schedule of the Chartered Accountants Act, 1949.

Sources said, Gokul Chandra Das, the respondent auditor, had submitted his comments on the rejoinder of BhSE which has been placed before the council of ICAI along with his written statement and the complaints of BhSE.

The members of BhSE, during the 12th Annual General Meeting (AGM), raised serious allegation on the role of Das, statutory auditor for the year 1999-2000 and 2000-2001. Allegations were made for his failure to report serious material irregularities involving siphoning off funds of the Stock Exchange amounting to Rs.88 lakh.

The fund, siphoned off by way of loan to members of welfare trust, was camouflaged in the accounts as other receivable which is contrary to the disclosure norms prescribed by the schedule VI to the companies Act, 1956.

The office bearers including president, vice-president, treasurer and the executive directors of BhSE were involved in the illegal siphoning of funds. But Das, as the then auditor, had issued a clean and unqualified report for the financial year 1999-2000 and 2000-2001 without reporting the material irregularities and misdeeds of the office bearers and management officials.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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