The CA institute is keen on having a role in the probes undertaken by the Central Bureau of Investigation (CBI) or Serious Frauds Investigation Office (SFIO) on any financial irregularities or corporate scams. The audit profession regulator will soon write to the Government offering its assistance in this regard, Mr Amarjit Chopra, ICAI President, told here.
“We want an ICAI representative to be included in their (CBI or SFIO) team whenever they go to any State. A chartered accountant would come in handy in tracking the money flows in any such scams,” Mr Chopra said.
The decision to approach the Government for this purpose was taken at a specially convened meeting of the ICAI central council here on Saturday. At this meeting, the council discussed the second report of the ICAI Committee on the Satyam scam.
Mr Chopra said that the council had on Saturday reconstituted the Committee and had given certain suggestions on the report. The report will again come back to the ICAI council in the first week of May, he said.
Besides the Satyam issue, the report has also gone into the surrogate practices of international firms. Mr Chopra declined to comment on the surrogate practices, stating the council was yet to approve the report.
Who will enquire into the affairs of the ICAI? Especially in the light of the conduct of its Central Council members, etc.?