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: VAT Audit :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: list of goods taxed at 4% :: form 3cd :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT RATES :: TDS :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps
 E-filing income tax return: How individuals can upload any ITR using excel utility
 Top 10 common mistakes to avoid when e-filing your income tax return

ICAI says, No law can guarantee safety from fraud
September, 30th 2009

Corporate enterprises will have to make extra efforts to avoid fraud in their companies as no law can guarantee against it, the Institute of Chartered Accountants of India (ICAI) president said Saturday.

No law can save companies from frauds, and Satyam is a recent example. The shareholders have to be extra cautious and remain alert, Uttam Prakash Agarwal told IANS on the sidelines of a two-day national conference of chartered accountants which started here Saturday.

They (the shareholders) cannot leave everything on the auditor or any other fellow; they have to maintain constant check in the companys affairs to avoid such incidents, he said.

Agarwal was the head of the high-powered committee which probed the multi-million financial fraud at Satyam Computer Services, disclosed by the firms founder Ramalinga Raju himself in January and ICAI soon began its probe into the matter.

We cannot change the human tendencies but we can certainly make our system more foolproof. Chartered Accountants (CAs) should be given more authority so that at any point of time they can direct the management to change the accounting policies of the company if they suspect anything fishy, Agarwal said.

Talking about the emerging scope of CAs, he said: Now a CAs role is not only limited to managing accounts or scrutinising balance sheets but his scope has widened manifold. He is looking after operations, marketing and various other aspects and has emerged as a hard-core professional in the global market.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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