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Institute of Chartered Accountants of India (ICAI) has directed Central Public Information Officer (CPIO) on RTI appeal by Advocate B.S.K.Rao to provide details of total number of members registered with the Institute and the total number of members holding Certificate of Practice (COP).
Copy of RTI Application filed by Advocate B.S.K.Rao and Directive by ICAI can be downloaded from the Following Link :-
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Advocate’s should be allowed to conduct audit and CA’s should be allowed to argue/appear before High Court and Supreme Court.
Is this we want??
Tax Audit Report Form No.3CA-3CB with Form No.3CD which were mandatorily be uploaded by Chartered Accountants only have come down to offline ?
NAGESH KINI SIR KINDLY GIVE TEST MAIL TO RAOSHIMOGA@GMAIL.COM
Increased cost of voluntary compliance? Whenever a bank opens an account it asks for a CA certificate, when someone goes for a loan there also CA certificate is asked for..This is the trust that most of the people have on CAs..I have a lot of clients who ask us to verify their accounts even without there being a need for audit in their case..This is the confidence a CA brings about..Tax Audit is required in order to certify the over all picture presented by the financial statements in addition to answering a specific set of questions in order to help the revenue department avoid the need for assessment in each and every case (as is don’t under VAT)..The mandatory audit acts as a control over the businessmen and the cost involved is not all that big.
Strenuous efforts of Institute of Chartered Accountants of India to expand the demand & supply gap of Chartered Accountants since 1984, with the motto of giving full employment to 65,570 practicing CA’s throughout India, have increased the cost of voluntary compliance of return filing in Non-Corporate Tax Audit cases under Income-Tax Act. ICAI is not even 1% concerned about India is very clear from this action. Further, CBDT has retained outdated mandatory tax audit clause U/s 44AB of Income-Tax Act for Non-Corporate assesses since almost three decades, that too in this computer era, without evaluating its utility & also not providing the ways or mechanism to search out empty slots of CA Signature to assesses/Non-CA Tax Professionals, which is causing strict hurdle for giving voluntary compliance, due to tax audit ceiling fixed by ICAI irrespective of Corporate & Non-Corporate cases for each CA, that too without considering the demographic spread of practicing CA’s. In fact, there is no such type of certification clause in any country throughout the world in revenue side.
Rao is just jealous & do not have work to make living. UK & Japan have tax audit provisions.
The ICAI considers itself to be a law unto itself.
Though it has to function as a regulator for the accounting profession it is an utterly toothless watchdog that neither barks nor bites.
Complaints of Professional Misconducts and Negligence are kept hanging.
Someone needs to file an RTI application seeking information of pending complaints filed by the memembers and others awaiting decisions. A list of criminal complaints of sexual harassments, fraud and other misdemenours filed against its central council memembers, why esp. chairman of icai ethics committee the senior partner of Satyam auditor who was jailed for long treated with kid gloves and why two relatively low level juniors debarred for life.More skeletons are bound to come out of the closet.
It is believed that the DTC and the Companies Act were delayed because they tended to adversely affect the profession.
The ICAI needs to clarify.
Has any CA ever tried to ask the institute or the government to change the CA syllabus and then authorise CAs to represent revenue related cases in High Court or Supreme Court? Why all the non CA tax professionals always keep trying to get the audit norms abolished? May be ICAI should let them know that the monetary limit has already been raised to 1.00 crore.