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: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TDS
 
 
« News Headlines »
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…
 File income tax returns in time to carry forward losses
 Missed the deadline to file income tax returns? Here is what you should do
 Who has to report foreign assets in Indian income tax return and how to do it

CAs may be roped
June, 11th 2009

Chartered accountants may soon see their world expanding with the government considering a proposal deploying them in the countryside to audit the finances of sarpanches, block development officers and other officials handling the United Progressive Alliances flagship National Rural Employment Guarantee Programme (NREGP).

The government is actively considering roping in the Institute of Chartered Accountants of India (ICAI) to provide professional expertise for the purpose. Rural development ministry officials declined to comment on the matter. ICAI vice-president Amarjit Chopra, however, confirmed that a move to this effect was in the offing but excused himself from offering more detail. The move is being considered because the scheme was allocated about Rs 30,000 crore in the last financial year and several studies, including some by government departments, have suggested that it is plagued by problems like delayed payments of wages, subcontracting work meant for villagers to contractors, leakages and so on.

The scheme entitles every poor rural household with 100 days of work every year and the new government wants to ensure that the money meant for the rural poor is actually is paid rather than siphoned off.

Activist Aruna Roy, founder of the Mazdoor Kisan Sangharsh Samiti and promoter of the idea of jan sunwayis (public hearing) and social audits of the NREGP said the idea of chartered accountants assisting social audits by stakeholders was not a bad one in principle.

But audits did not necessarily detect or prevent them, she contended. Most frauds are discovered after financial audits have been done, she added.

You need physical verification to see if the promises of the scheme match the outcomes and that is possible only with participation of the community, she said. If the social audits by the community are backed by the expertise of chartered accountants then there is nothing like it.

Chopra said ICAI has already been involved in public service assignments it has worked with the Municipal Corporation of Delhi and Kolkata to help them change from the single-entry system of accounting to the double-entry system.

We are equally well equipped to work for a scheme like NREGP which is on a national canvas, he said, adding that the idea was to ensure that money reached the people for whom it was meant. He said ICAI would look at officials involved in the scheme at all levels.

 
 
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