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 »
 Launch of 1st Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at ICAI Bhawan, Sector- 62, Noida from 2nd June, 2018 to 24th June, 2018.
 Application Form for the Information Systems Audit (ISA) Assessment Test - June, 2018.
 Information System Audit - Assessment Test (ISA - AT), June 2018
 FAQs on SA 570 (Revised), ‘Going Concern’ (Applicable for audits of financial year 2017-18)
  Exposure Draft of Standard on Internal Audit (SIA), Planning the Internal Audit Assignment (Comments to be received by June 15, 2018)
 Four Weeks Residential Programme to be held from 4th June, 2018 to 1st July, 2018 at Centre of Excellence, Jaipur for Men Participants only.
 Inputs/ Suggestions Invited on Draft Revised Syllabus for the Post Qualification Course on Information Systems Audit formulated by Digital Accounting and Assurance Board of ICAI latest by 31st May, 2018.
 Exposure Draft of Accounting Standard (AS) 109, Financial Instruments (Comments to be received by June 30, 2018)
 Register for Exclusive First Batch of Spanish Language (60 Hours) for ICAI Members and Students at Delhi and Mumbai - 4th June 2018 - Last Date of Enrolment is 21st May 2018
 FAQ on accounting treatment of increase in liability due to enhancement of the gratuity ceiling.
 SAFA accepts recommendation of the ICAI for forming SAFA Women Empowerment Committee and replicating the digital initiatives of ICAI.

ICAI to complete Satyam probe in six months
July, 06th 2009

The apex chartered accountants body Institute of Chartered Accountants of India (ICAI) has said that the investigations on Rs 7,000-crore Satyam Computer fraud will be sealed in six months after the role of the two internal auditors in perpetrating the scam is proved.

The ICAI president Uttam Prakash Agarwal said that the final verdict by the institutes disciplinary committee will be ready in six months. Apart from that the high-powered committee constituted by the regulator will include matters related to corporate governance, appointment of internal auditors and the role independent directors, among others. The high-powered committee was set up by the regulator after the Satyam scam came to light.

Meanwhile, the committee will also submit the report to the government on July 9 with details about the Satyam scam. Besides, it will also review the shortcomings and suggest ways of plugging loopholes against such frauds.
The recommendations, once approved by the corporate affairs ministry, will set the tone for the regulator taking any disciplinary action against auditors, who fudge and manipulate companys accounts henceforth.

The committee will also make case for ICAI and the ICAI Act to be additionally empowered to deal with corporate frauds, said Mr Agarwal. He was here to inaugurate the ICAI centre of excellence.

The ICAI is speeding up investigation in other cases which includes the Global Trust Bank (GTB) case. Its disciplinary committee, headed by Uttam Prakash Agarwal had also submitted its report on PW auditor S Gopalakrishna in the case relating to GTB in March.

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

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