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: form 3cd :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India
 
 
ICAI »
 CPE Events 26th June - 1st July 2017
  Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Exemption to Private Companies u/s 462 of The Companies Act 2013 as per Ministry of Corporate Affairs Notifications Dated 5th June, 2015 and 13th June, 2017
 Four Weeks Residential Programme to be held from 31st July, 2017 to 27th August, 2017 at Centre of Excellence, Hyderabad for Men Participants only.
 Next batch of the Certificate Course on Valuation at Bangalore from 15th July, 2017.
 CPE Events 19th June - 24th June 2017
 Post-implementation Review - IFRS 13 Fair Value Measurement
 Disclosure Initiative - Principles of Disclosure
 Volume XXXV of the Compendium of Opinions
  Permitting members to act as Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 and related matters.

ICAI to meet FM on bank branch audit in Sept
August, 30th 2012

The Institute of Chartered Accountants of India (ICAI) will meet Union finance minister P Chidambaram on retaining the current advance limit of bank branches for independent audit.

"We will meet the finance minister and make a representation to retain the current Rs 6 crore limit of advance by a branch for an independent audit on bank branch audit among some other issues," ICAI president Jaydeep N Shah said here today on the sidelines of institute's regional conference.

A committee comprising officials of the RBI and the ministry of finance had proposed increasing the minimum advance limit for the PSU bank branches eligible for independent audits from Rs 6 crore to Rs 20 crore from 2012-13. Shah said currently around 85% of the bank branches come under the independent audit ambit. "If the limit is increased to Rs 20 crore, then huge number of branches come out of the audit," he said.

Since 2006 to FY2011, the statutory audit limit was Rs 3 crore and in 2011-12 the limit was raised to Rs 6 crore. When asked about concern raised about expenditure by PSU banks for the independent audit, Shah said of the total bank advance of Rs 44 lakh crore the total audit fees is between Rs 300 and 400 crore. Meanwhile, Shah said Government Accounting Standard Advisory Board in which ICAI is also a member was working satisfactorily in preparing accounting standards to switch to double entry and accrual system of accounting for all central and state government accounting.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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