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: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS
News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

Govt to change role of accounting standards body
September, 09th 2010

The government plans to redefine the functions of the National Advisory Committee on Accounting Standards (Nacas) to convert it into an independent regulatory entity to monitor the quality of audit undertaken across the corporate sector in the country.

The proposal, made by the corporate affairs ministry to the Parliamentary Committee on Finance that looked into the Companies Bill, 2009, says the revamped Nacas should be allowed to oversee and monitor the performance of standard setting bodies for the accountancy and audit professions.

Autonomous institutions such as the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretaries of India, under the administrative control of the corporate affairs ministry, are the standard setting bodies for accountancy and audit professions.

The ministry response came after the Parliamentary committee, which submitted its report last week, expressed concerns over the global economic crisis and the failure of big companies and suggested the formation of an independent regulator to recommend standards for corporate financial reporting, corporate audit and the quality of service of professionals associated with ensuring compliance with such standards. It also wanted this body to oversee, monitor and supervise the bodies involved in setting such standards.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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