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ICAI issues notices to 11 more audit cos with foreign tie-ups

Accounting regulator ICAI today asked 11 more auditing firms having foreign affiliations to furnish with information on their activities and operating structure in India. “We have issued notices to 11 more firms. We have asked about their activities, international affiliations and operating structure in India,” ICAI President ...

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Posted Under: CA, CS, CMA |

Beating slowdown, chartered accountants bagged jobs with top-notch companies in the latest campus placement

Beating the slowdown, chartered accountants (CAs) have bagged jobs with top-notch companies in the latest campus placement drive, which has also seen more newly qualified professionals get jobs. State-run companies, especially from the financial services sector, have emerged as the biggest recruiters in the current round of hiring. Four n...

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Posted Under: CA, CS, CMA |

Bank of Baroda's (BoB) New York branch account was used to cook up Satyam balance sheet: SFIO

The Serious Fraud Investigation Office (SFIO) investigating into the multi-thousand crore Satyam scam has found that the IT company’s Bank of Baroda’s (BoB) New York branch account was used to cook up its balance sheet. CNBC-TV18’s Pranshu Sikka reports. The SFIO has recommended an investigation into Bank of Baroda’s role ...

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Posted Under: CA, CS, CMA |

No change in Examination schedule of Examinations to be held from 1st June to 15th June, 2009: ICAI

The Examination Department has been receiving enquiries from various candidates/parents/members regarding change in the schedule of holding the Professional Education-II, Professional Competence Course (PCE) and Final Examination and also Post Qualification Courses in Management Accountancy Course (MAC Part-I), Corporate Management Course...

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Posted Under: CA, CS, CMA |

Raju gratest cook : Cooked books by 27167 Crore

Specific figures that reflect the magnitude of the swindle at Satyam Computer Services Ltd are coming to light. The books of the software services firm were inflated to the tune of Rs27,167 crore between the fiscal year ended 31 March 2001 and September last year, mainly by inflating cash and bank balances, showing fictitious fixed depo...

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Posted Under: CA, CS, CMA |

ICAI issued notices to E&Y, Deloitte

Two other big four accounting firms have received a letter from the accounting regulator, the Institute of Chartered Accountants of India (ICAI). According to sources, the ICAI has written to Deloitte and E&Y, asking for detailed information on their activities, international affiliations and operating structure in India. Just over a ...

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Posted Under: CA, CS, CMA |

ICAI extended due date for completion of 100 Hours IT training

Removing difficulties being faced by the students for successfully completing 100 Hours Information Technology Training before the commencement of June, 2009 Professional Competence Examination.  It has been brought to the notice of Board of Studies that some of the students who have to appear for the Professional Competence Examina...

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Posted Under: CA, CS, CMA |

Tech Mahindra plans to appoint two auditors at Satyam Computer Services

Tech Mahindra plans to appoint two auditors at Satyam Computer Services as part of its initiative to enhance the corporate governance standard of the fraud-hit software exporter, said a top Tech Mahindra executive. But, the appointments will have to be ratified by Satyam shareholders. Satyam’s corporate governance practices and the ...

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Posted Under: CA, CS, CMA |

ICWAI made 6 Cost Accounting Standards mandatory w.e.f. period commencing on or after 1st April 2010

The Council of the ICWAI at its 251st Meeting held on 12-13 February 2009 decided as below: Mandatory application of Cost Accounting Standards...

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Posted Under: CA, CS, CMA |

BIG FOUR CA firms plead for help amid fear of lawsuit-Britain

Leading accountants will meet the Government this week to plead for protection as they prepare for a surge in litigation from investors trying to recover their losses from big company failures. The Big Four — Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers (PwC) — are braced for an increase in legal action from investors ...

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Posted Under: CA, CS, CMA |