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
« General »
 You may not get tax refund if you haven’t validated your bank account
 Senior citizen tax benefits: From income tax to pension – 10 exclusive points explained
 RBI panel pitches for federal body like GST Council in farm sector
 Why should we pay more property tax’
 New income tax rules come into effect from September 1. Latest changes explained
 No tax demand from startups sans appellate tribunal nod: CBDT
 What’s new for 2019 tax returns
 RBI to review minimum balance requirements for savings a/cs
 Income tax returns may have pre-filled mutual fund gains information
 Generation/Allotment/Quoting of Document Identification Number in Notiee/Order/Summons/letter/correspondence issued by the Income-tax Department
  Who all need to file their tax returns

ICAI seeks robust auditing system for govt departments
June, 23rd 2016

The Institute of Chartered Accountants of India (ICAI) on Friday stressed the need for a robust auditing system in state and central government departments.

M Devaraja Reddy, ICAI president, was in the city for a national-level seminar. He said. "The prevailing auditing systems in many governmental organisations are not at par with those in advanced countries. The system also lacks professionals and thus there is huge scope for further improvement. In many government departments, people with irrelevant educational background are handling accounts. It should not happen."

Reddy added that there should be an audit of governments spending at the district level. "The government is spending lot of money at district level but there is no full proof and efficient system of auditing. Professionally qualified persons like chartered accounts can keep a watch on the government's spending and eventually help the authorises to channelize the public money," he said.

Stay updated on the go with Times of India News App. Click here to download it for your device.

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

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