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: form 3cd :: due date for vat payment :: TDS :: VAT Audit :: cpt :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money
 10 most important income-tax changes which will apply from April 1
 10 Income Tax Rules That Will Change From April. See Details Herea
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 How to Make Tax Saving Investments Less Taxing with an SIP in ELSS

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