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: empanelment :: articles on VAT and GST in India :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« ICAI »
 Group to look into the intricacies involvced in areas pertaining to the Disciplinary Mechanism
 Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian Accounting Standards
  Requirements for passing Information Systems Audit (Assessment Test)
  Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Reconstitution of Group to study the existing norms for the appointments/re-appointments of statutory / internal auditors
 Reconstitution of Group to study and suggest changes in the Guidelines relating to Networking of CA Firms
 Reconstitution of Group pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) - Reporting in Assessment Proceedings’ for the year ended March, 2014
 Reconstitution of Group to look into the intricacies involved in areas pertaining to the disciplinary mechanism
 Reconstitution of Group to suggest ways and means for augmenting the income of Chartered Accountants Benevolent Fund

ICAI serious fraud detection cell by July
May, 16th 2009

 The Institute of Chartered Accountants of India (ICAI) is expecting its serious fraud detection cell to be operational by July to better handle "Satyam like" cases, its top official said.

The cell would help agencies such as Securities and Exchange Board of India and Reserve Bank of India in cracking large financial fraud cases apart from handling its own investigations.

"My people are working on it and by July we expect the launch, the council will decide who will head this. Its objectives, committee, constituents etc would be decided soon," ICAI president Uttam Prakash Agarwal told DNA.

The detection cell would be set up on the lines of corporate affairs ministry's Serious Fraud Investigation Office (SFIO) to "fast track" cases.

SFIO, which handles complex fraud cases in corporations, was set up by the government to investigate stock market scams, failure of non-financial banking companies and other financial frauds.

Agarwal said ICAI has communicated to the corporate affairs ministry to grant it authority for restatement of balance sheets if some mistakes are found while auditing the accounts.

"After the recent corporate governance scams, auditors are in urgent need of
power to ask for restatement of accounts rather than just giving their qualifications. The matter is with the ministry now and they are considering it, and I believe a decision will come soon," Agarwal said.

Currently, the management has the final word on restating the accounts and auditors are sometimes kept as "recommenders only". Also, ICAI does not have authority to act against auditors who may have indulged in misconduct or fraud if they are not registered members of the institute.

The high-level committee, set up by ICAI to pursue Satyam Computer scandal, is expected to give its decision next month, the official said. Agarwal is chairing the six-member committee, which is investigating the Satyam fraud for ICAI.

 
 
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 Portfolio

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