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: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: VAT RATES :: TDS :: form 3cd :: empanelment :: list of goods taxed at 4%
 
 
« News Headlines »
 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
 Filing of GST return

ICAI Panel Proposed Setting Up Separate Regulatory Framework
April, 03rd 2010

Institute of Chartered Accountants of India (ICAI) panel formed by the apex body of accountants to study the fallout of the scam at Satyam Computer Services Ltd proposed to set up a separate regulatory framework. The separate regulatory is being recommended in order to oversee foreign entities providing a range of management consultancy, auditing and other services to Indian clients.

The recommendation is contained in a report the committee submitted on 4 February to the central council of the Institute of Chartered Accountants of India (ICAI), which regulates Indian auditors and accountants.

The high-powered panel was headed by former ICAI president Uttam Prakash Agarwal.

Further, the report suggest that the council may consider recommending to the government to bring all the entities that are providing a range of management consultancy and other services in competition with members of the institute under a regulatory mechanism.

Satyam Hyderabad - based has been at the centre of Indias biggest corporate fraud inquiry after founder B. Ramalinga Raju confessed in January 2009 to having misstated accounts to the tune of Rs7,136 crore, over a period of several years.

The government asked ICAI, one of several agencies investigating the fraud, to look into auditing lapses at Satyam.

Satyam auditor Price Waterhouse Bangalore, an Indian partner of PricewaterhouseCoop ers Llp, one of the worlds big four auditing firms, also came under scrutiny following the scam, with two partners being arrested in connection with the fraud.
 
Presently, as per sources, ICAI committee, in its recommendations, said that the council may consider action needed to be taken against the audit firms that had not yet provided the information it had sought from them.

However, according to the report, information has been sought from 94 accounting firms, which were perceived to have affiliations with international entities on their tie-ups.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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