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Satyam's fraud shameful: Ministry of Corporate Affairs

The ministry of Corporate Affairs is looking into the statement sent by Ramlinga Raju to stock exchanges  admitting fraud in Satyam’s accounts. “If the message was true and a fraud has happened in Satyam it is very shameful. It should not have happened,” Corporate Affairs inister Premchand Gupta told reporters on Wednes...

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Posted Under: CA, CS, CMA |

Satyam Computer head quits, admits doctoring books

The chairman of India’s Satyam Computer Services Ltd. quit Wednesday after admitting the company’s profits had been inflated for several years, sending shares of the software services provider plunging by more than 70 percent....

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Posted Under: CA, CS, CMA |

India to examine role of Satyam auditors, directors

NEW DELHI, Jan 7 (Reuters) – India’s government will examine the role of Satyam’s auditors and directors, after its chairman resigned and said the company profits had been inflated, the federal company affairs minister said on Wednesday. “Anybody found guilty will be dealt with accordingly,” Prem Chand Gupta ...

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Posted Under: CA, CS, CMA |

CA body starts bid to integrate profession

The Institute of Chartered Accountants of India (ICAI) has undertaken various initiatives to create a communication link between its members who are practising and those who are employed in the corporate sector. This is to meet the current challenge of  finance functions becoming crucial and a chief finance officer  developing into a ch...

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Posted Under: CA, CS, CMA |

Forensic accounting to prevent white-collar frauds: ICAI

With corporate accounting frauds on the rise, the ICAI has decided to promote forensic accounting to equip chartered accountants with adequate tools to detect white-collar crimes and identify malpractices like money laundering and routing terrorist funds....

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Posted Under: CA, CS, CMA |

EMPANELMENT OF CHARTERED ACCOUNTANT FIRMS FOR THE YEAR 2009-2010

Applications are invited online from the firms of Chartered Accountants who intend to be empanelled with this office for the year 2009-2010 for appointment as auditors of Government Companies/Corporations. The format of application along-with the detailed instructions regarding the documents to be furnished will be available on our websit...

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Posted Under: CA, CS, CMA |

DATE FOR NOMINATION EXTENDED UPTO 10TH JANUARY, 2009

ICAI Awards 2009 (25th January, 2009) – Do you wish to nominate any leader for the Corporate Awards? DATE FOR NOMINATION EXTENDED UPTO 10TH JANUARY, 2009 These awards are instituted to acknowledge Chartered   Accountants in   industry who have   demonstrated   excellence   in the way in which they conduct their profession, ...

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Posted Under: CA, CS, CMA |

ICAI – CPE Compliance Date Extended To 31 Jan 2009

Deadline of 31st December, 2008 for completion of minimum 20 CPE hours of structured learning for 2008 extended up to 31st January, 2009.Other details follow....

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Posted Under: CA, CS, CMA |

Approval of four more Auditing Standards – ICAI

The Revised Standard on Auditing (SA) 540, 'Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures' provides timely guidance on audit of fair value and accounting estimates in the current times of market uncertainty and liquidity crunch. Accounting estimate is an approximation of a monetary amoun...

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Posted Under: CA, CS, CMA |

ICAI's constitutes committee on public finance

The Institute of Chartered Accountants of India has constituted a committee on Public Finance with the objective of extending a helping hand to the Centre, state and local administrative departments in nation building, an official of ICAI said on Monday. ICAI Programme Director V C James told reporters here, the committee's key objective ...

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Posted Under: CA, CS, CMA |