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: cpt :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: due date for vat payment :: empanelment :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: form 3cd :: VAT Audit
 
 
« News Headlines »
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits

Scrap tender for audit of social projects: ICAI chief
June, 23rd 2010

The apex auditor of the country should ensure that social sector programmes audits are not subjected to the process of tendering for appointing auditors, ICAI president Amarjit Chopra has said.

The tender process for auditing social sector schemes has led to deterioration in the quality of audit. Audit firms quote too low a price for procuring the auditing work of such schemes. However, low prices certainly are a cause of concern for us keeping in mind that the actual cost of such audits is higher, Chopra told The Indian Express while expressing concern over the social sector audit in the country. He said that the institute would probe the reasons why audit firms quote such low prices in the tenders.

The president said the Sarva Shiksha Abhhiyaan has been awarded for abnormally low prices and has raised the alarm in the institute as low prices, directly or indirectly, translate into poor quality. Similarly, highway project audits have also been awarded for a very low price. The president said the Comptroller and Auditor General (CAG) should fix a minimum price for tendering so as to stop the practice.

As per the current practices, CAG floats tenders for auditing government programmes such as the Sarva Shiksha Abhiyaan, NREGA, JNNURM and audit firms, which meet the criteria for such audits, apply and those who quote the lowest price are awarded the exercise.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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