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
ICAI »
 Important Announcement May 2019 CA Examinations
 ICAI Convocation 2019 (IInd Round) on 1st February, 2019
 Result of the Information Systems Audit [ISA] Assessment Test held on 22nd December 2018 is likely to be declared on 23rd January, 2019 around 6.00 PM.
 Results of the Chartered Accountants Final Examination (Old course & New Course), Foundation Examination and Common Proficiency Test (CPT) held in November/December, 2018 are likely to be declared on Wednesday, the 23rd January 2019 around 6.00 P.M.
 Extension of last date "for complying with the CPE hours requirement for the Calendar Year 2018" - from 31st December, 2018 to 31st January, 2019
 2nd Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Kolkata from 27th January, 2019 to 23rd February, 2019.
 2nd Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Ahmedabad from 19th January, 2019 to 16th February, 2019
 Educational Material on Indian Accounting Standard (Ind AS) 110, Consolidated Financial Statements
 Will Modi government change Income tax slab? check details Budget 2019 Income tax rates
  Exposure Draft of Accounting Standard (AS) 18, Revenue (Comments to be received by February 4, 2019)
 Exposure Draft of Accounting Standard (AS) 11, Construction Contracts (Comments to be received

ICAI to fast track proceedings against auditors
June, 02nd 2011

Accounting regulator the Institute of Chartered Accountants of India (ICAI) today said it will soon conclude the disciplinary proceedings against S Gopalakrishnan and Srinivas Talluri, the two auditors embroiled in the multi-crore Satyam fraud.

"The Disciplinary Committee of the ICAI would be holding the hearing(s) in the said matter(s) at regular intervals and would try to conclude these cases by adopting the fast track mode," ICAI President G Ramaswamy said in a statement.
 
ICAI said it is following the Delhi High Court order which has quashed petitions filed by Talluri and Gopalakrishan and directed the institute to continue with disciplinary proceedings, "independent of the Criminal case(s) filed by the CBI pending against them in the Criminal Court".

After the Satyam scam broke in January 2009, the apex body of chartered accountants found four auditors guilty of misconduct. Besides, Talluri and Gopalakrishnan, Vadlamni Srinivas, former CFO and V Prabhakar Gupta, former internal auditor, are also being charged by the ICAI.

The CBI chargesheet has alleged that external auditors were paid hefty sums to cook up company accounts, thus becoming part of the crime.

ICAI's high-powered committee in its report had earlier said, prima facie, the conduct of the auditors both from Pricewaterhouse, which was the then statutory auditor of Satyam, and its internal audit team, were found negligent.

If proven guilty of professional misconduct, members could be barred from practice for up to five years or fined up to Rs 5 lakh.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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