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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: form 3cd :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: empanelment :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TDS
 
 
News Headlines »
 Filing of online return for 4th quarter of 2016-17 — extension of period thereof
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned

CA firms told to furnish overseas tie-up details
April, 30th 2009

The Institute of Chartered Accountants of India (ICAI) has asked 12 domestic chartered accountant (CA) firms to provide details of their informal tie-ups with overseas auditing firms, the accounting regulator said in a statement.

The move is aimed at understanding the operational details of the Indian CA firms, which have entered into contracts with international accounting majors, such as PricewaterhouseCoopers (PwC), KPMG, Ernst & Young and Deloitte, an ICAI official said on condition of anonymity. The accounting regulator is taking precaution to avoid any Satyam kind of scam.

As per the initiative that was taken by a high powered committee of the institute chaired by its president Uttam Prakash Agarwal, ICAI has sought copies of contracts between the domestic audit firms and their multinational partners.

In addition to their contract papers, the 12 identified CA firms will also have to submit details of money paid and received from foreign partners and also show copies of letterheads and visiting cards used by their employees, the institute said in a release. ICAI, however, officially did not name the CA firms that have been sent the notices.

Regulations of World Trade Organisation (WTO) do not allow multi-national accounting firms to do audit work in India. For this reason, firms, such as KPMG, E&Y, PwC and Deloitte, have tied up with Indian CA firms. KPMG in India has an association with BSR & Co for doing financial audit of domestic companies, while SR Batliboi & Co has a similar tie-up with E&Y.

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