In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of company secretaries.
26 chartered accountants associated with such shell companies have also been identified
The government said in Friday it was negotiating aggressively at the World Trade Organisation to facilitate easy movement of professionals across borders to deliver services.
The latest passion of the Institute of Chartered Accountants of India (ICAI) is not selling blazers. Nor is it inauguration of residential courses. It is IFRS, IFRS and IFRS. Or International Financial Reporting Standards.
OIL announced its financical plan outlay for the next two years.
Moving away from its earlier stance, the Institute of Chartered Accountants of India on Friday said it was ready for opening up of the sector provided there was reciprocity and removal of non-tariff barriers in developed countries.
India, the fourth largest economy in the world, is integrating very fast with the global economy, Indian High Commissioner to the United Kingdom Ronen Sen has said.
Promises have been made in the past about cleaning up bank boards, revamping processes, purging vested interests. How far away is that Promised Land?
Delhi-based Nilesh Sharma, among the first IPs, said while the framework is in the initial stage and might have teething trouble, the opportunity is immense in the long run.
Shatrughan Sinha, Shabana Azmi laud the move.
The filing of audit reports was made mandatory in ITR Form 5, 6 and 7 after the tax department noticed discrepancies in filing of some returns along with audit reports.
'Consistency is the key to cracking any goal.' 'If you can't put in 10 hours a day, make it 6 hours or 8 hours, but stick to it.' 'Don't lose momentum.'
The government paid Rs 164.5 crore to Infosys to build the new income tax e-filing portal between January 2019 and June 2021, Parliament was informed on Monday. "The contract for Integrated e-filing & Centralized Processing Centre (CPC 2.0) Project was awarded through an open tender published on Central Public Procurement Portal (CPPP) to Infosys Ltd, the Managed Service Provider on the lowest cost basis.
Setting aside the ban on PwC, which is one of the Big Four global accounting firms, SAT said only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
Under the Companies Act, 2013, auditors have the responsibility of reporting frauds, at entities being audited by them.
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
After getting Indian Oil Corporation, the nation's largest oil firm, to drop four independent directors and Engineers India Ltd to boot out two, it is now seeking to sack former Power Secretary P Uma Shankar, chartered accountant S Ravi and former BPCL Chairman R K Singh from the board of ONGC.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
rediffGURU Sushil Sukhwani offers expert advice about pursuing higher education abroad.
Indian talent may soon be allowed to work in France without a degree from a French institute.
PwC one of the big four audit firms, has expressed disappointment at the conviction of two former partners in the Satyam scam.
Tax experts G Srikanth and Anil Rego will answer all your tax queries in two different chats between 1 pm and 4 pm on Monday, February 3.
The current process for selecting auditors could compromise their "independence".
facilities at Bangalore one understands the financial year end frenzy at these establishments and the slipshod slippages in timeframes, quality of overhaul, servicing and quality control across the board, for aircraft and equipment alike,' says Group Captain Murli Menon (retd).
The government's agenda also includes the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.
