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
Latest Expert Exchange
Auditing »
 Supreme Court puts the spotlight on audit firms
 Auditing to be less of a burden as accountants embrace AI
 CAG's report on GST will be totally paperless
 Time Limit For Completion Of Assessment From The Date Of Special Auditors Report Under Income Tax Act, 1961
 Provisioning pertaining to Fraud Accounts
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
 Cost Auditing Standards [ Cost Audit Documentation (102)] Part-II
 Conference on Companies Act gets under way
 New bureau to dissolve state-run banks' power to choose auditors
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
 ICAI forms 'prima facie' view on NSEL auditor

CAG set to audit WFPs accounts
May, 21st 2010

India is all set to clinch the global bid for auditing the World Food Programme (WFP) for a six-year term from July 1, 2010 to June 30, 2016.

According to the Rome-based WFP, the total annual remuneration for India as an external auditor shall be $385,000, inclusive of fees and all other costs and expenses, to be paid in quarterly installments.

India has been selected after facing stiff competition from global players, Vinod Rai, Comptroller and Auditor General of India said on the sidelines of the diamond jubilee celebrations of the National Audit Institute in Shimla early this week.

About nine countries had bid for WFPs external auditor. Of the five shortlisted countries only three candidates including India were called for interaction.

The other two countries included South Africa and the Philippines.

The evaluation panel of WFP has already recommended Indias candidature for the position of external auditor.

The formal appointment will be made after endorsement of the panels recommendations by the Finance Committee of the Food and Agriculture Organization, advisory committee on administrative and budgetary questions of the United Nations, and then finally by the executive board of WFP.

The meeting of executive board of WFP is scheduled for June 11.

In its correspondence with WFP, CAG has stated that it does not expect its costs to rise significantly. However, it referred to the possibility of limited increases after 2010 due to variations in the cost of air travel, staff costs and rates of daily subsistence allowance, which it does not expect to exceed a cap of 8 per cent during its term of office.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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