Price Waterhouse may not be able to practice in India, if either or both of its partners — S. Gopalakrishnan and Talluri Srinivas — are found guilty in the Satyam Computer Services fraud case. If the regulators concerned agree to the suggestion made by the Institute of Chartered Accountants of India (ICAI), this kind of […]
In what could be a fall-out of the Satyam account fabrication episode, the Institute of Chartered Accountants of India (ICAI) has started pitching for restraining all foreign firms from associating with domestic firms that do statutory audits in India .
Rule-2(l) of Cenvat Credit Rules does not require that service has to be rendered at the factory of the manufacturer for the purpose of eligibility for service tax credit. Therefore the stand of the revenue that since the service was provided at the buyer’s premises credit is not admissible cannot be accepted. What has to be examined is whether the service provided is in or in relation to manufacture.
Please refer to our previous circular DPSS (CO) No. 2118 / 04.04.002 / 2007 – 2008 dated June 25, 2008 on the captioned subject. On a review of RTGS timings, the RTGS Standing Committee has decided to extend RTGS timings for customer transactions on Saturdays from 12:00 noon to 12:30 hours and for inter-bank transactions from 14.00 to 14.30 hours. The new timings have already become effective from January 10, 2009.
No. LAD-NRO/GN/2008-2009/33/15022. In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, namely:-
Stating the Reserve Bank’s credit policy to be “on expected lines”, bankers today said the RBI could cut key policy rates and ratios in the months to come with demand for credit picking up and inflation remaining subdued. The RBI in its third quarterly review of the credit policy announced today kept key policy rates […]
In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/corrections at appropriate places as mentioned in ANNEXURE “A” to this Public Notice are made.
Faced with criticism that its disciplinary machinery is only focused on errant members and not on the firm that they represent, the auditing profession regulator Institute of Chartered Accountants of India (ICAI) has trained the gun on audit firms now. The ICAI has written to the Securities and Exchange Board of India suggesting that the […]
The government has asked the Institute of Chartered Accountants of India (ICAI) to prepare a roadmap for public sector companies to meet international accounting norms that would make their financial statements easily comparable with that of companies in more than 150 nations.
There is no lapse in the standard of accounting and auditing ethics in India. Satyam shock is just an aberration or an accident, said Mr Ved Jain, president of the Institute of Chartered Accountants of India.
