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 :: articles on VAT and GST in India :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: empanelment :: cpt :: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4%
 
 
« ICAI »
 ICAI - PIOB Joint Stakeholders’ Conclave on the theme “Global Audit Oversight: Reconciling Perception Gap” on 9th February 2017, New Delhi
 May 2017 CA Examinations
 Exposure Draft of Recognition of Deferred Tax Assets for Unrealised Losses (Amendments in Ind AS 12, Income taxes) (January 2017).
 Formatin of Group to suggest norms for making Cooptions in non-standing Committees
 Constiuttion of a Group for creation of Ombudsman and formulating Whistle Blower Policy
 Result Notification Final - Nov 2016
 Result of the Information Systems Audit [ISA] Assessment Test held on 24th December 2016 declared.
 Result Notification - CPT December 2016
  Result of the Chartered Accountants Final Examination held in November 2016 and Common Proficiency Test (CPT) held in December 2016 declared.
 Annual Improvements to IFRS® Standards 2015–2017 Cycle
  Result of the Chartered Accountants Final Examination held in November 2016 and Common Proficiency Test (CPT) held in December 2016 are likely to be declared on Tuesday, the 17th January 2017.

High Powered Committee of ICAI issued notices
May, 05th 2009

The Institute of Chartered Accountants of India (ICAI) set-up by an Act of Parliament viz. The Chartered Accountant Act, 1949 to regulate the profession of Chartered Accountancy is the second largest and prominent accounting body in the world. It has been taking various proactive measures from time to time, aligned with the changing facets of the Indian economy, for continuously raising the standard of quality of accounting and financial reporting.
 
The Institute, being a statutory body, is administered by a Council which is the highest policy making body of the Chartered Accountancy profession. The Council is comprised of 40 members of whom 32 are elected from among its members spread all over the country. The remaining eight members are nominated by the Central Government representing such authorities as the Comptroller and Auditor General of India, Ministry of Finance, Ministry of Corporate Affairs and persons of eminence from the fields of law, banking, economics, business, finance, industry, management, public affairs, etc.
 
Considering the developments relating to Satyam Computers Services Ltd. (Satyam), the Council of the Institute, at its meeting held on 12th and 13th January, 2009, constituted a High Powered Committee to look into the matters arising out of Satyam fiasco. The Committee, at present, is composed of the following members:

CA. Uttam Prakash Agarwal, President (Chairman)
CA. Ved Jain, Vice-Chairman (Immediate Past President)
CA. Shanti Lal Daga (Council Member)
CA. Subodh Kumar Agrawal (Council Member)
CA. Akshay Kumar Gupta (Council Member)
Shri K.R. Maheshwari (Government nominee)
Shri O.P. Vaish (Government nominee)
 
The terms of reference of the above Committee include to look into the entire gamut of financial reporting, accounting and auditing aspects with regard to Satyam fiasco, including helping/coordination with the investigation being carried out by various agencies, going into the roots of the problem, effectiveness of the system in place, systemic issues; to identify the root causes including persons involved/associated; and to suggest change(s), wherever required, for the purpose of making appropriate recommendation(s) to the Central Government, SEBI and other Regulators.
 
The said High Powered Committee, in the course of its task, has decided to write to certain Indian Chartered Accountants firms having affiliation with international entities asking them to submit following papers/documents.
Agreement/contract with the multinational entity

Terms and conditions for usage of name of the afore-mentioned multinational entity

Arrangement for sharing of fees/profit with other Indian CA firm(s) with similar/identical name and with the afore-mentioned multinational entity

Arrangement for sharing of human resources and infrastructure with other Indian CA firm(s) with similar/identical name and with the afore-mentioned multinational entity

Details of remittances made to and received from the afore-mentioned multinational entity

Copy of Partnership deed of the CA firms registered with ICAI with similar/identical name, as in vogue in the last five years.

Income-tax assessment orders for the last 3 years in respect of the CA firms registered with ICAI with similar/identical name. If assessment orders have not been received, then to submit computation of income and copies of returns.

Copies of letterheads and visiting cards generally used.
 
The Institute has issued notices to 12 such Indian CA firms by 13th April, 2009.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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