Case Law Details
Case Name : Karnataka State Chartered Accountants Association, Bangalore & Ors. Vs The State of Karnataka, Department of Co-operation & Ors. (Karnataka High Court)
Appeal Number : Writ Petition Nos. 2026-2031 OF 2015 (CS-RES)
Date of Judgement/Order : 29/03/2016
Related Assessment Year :
Courts :
All High Courts Karnataka High Court
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The facts, as stated by the petitioners, are as follows:-
The first petitioner is an Association of Chartered Accountants, registered under the Societies Registration Act, 1860. Petitioners no.2 to 6 are said to be practising Chartered Accountants. The petitioners seek to challenge the amendment to Section 63 of the Karnataka Co-operative Societies Act, 1959 (Hereinafter referred to as the ‘KCS Act’, for brevity), whereby auditing of accounts by Cost Accountants of a firm of Cost Accountants is permitted.
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Author Bio
Dear Mr millind parte, a request to u to ask PCAOB to debar the cost accountant from financial audit in us, can u for sure in writing declare that I can also pass CMA, I have seen many students who were never as competent in school but then they r u very well know, it is the due diligence, percussion, intelligence quotient and grasp in the subject which comes into play, do not be afraid it was because of u that Indian economy has failed, come and compete in the open market, u should thank the situation in 1961, that made u all fortify the tax audit and financial aid it as there were very very few cost accountant, we have got financial audits in central and state cooperative banks ,some of them may be bigger than govt / private banks, we have surrounded u from all sides , victory is not far just wait
There should not be any discrimination in the professional field when one state has accepted the service of CMA in case of Cooperative Audit other states also should follow the same. Respective ministries are to be informed in this regard.
why r CA’s afraid of CMA’s? why can’t CMA’s audit. They too learn the same subjects & same topics. Then why is this discrimination?
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