THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA – NEW DELHI ANNOUNCEMENT 6th February, 2009 The Professional Education – II, Professional Competence Course (PCE) and Final Examinations of the Institute will be held from 1st to 15th June, 2009 at the following centres : 1) Centres in India –Agra,Ahmedabad, Ahmednagar, Ajmer, Akola, Alappuzha, Allahabad, Alwar, Ambala, […]
If the Satyam and Orchid Chemicals and Pharma episodes are any indication, promoters pledging shares can be an extremely sordid affair and can leave ordinary investors in the lurch. But promoters, unperturbed, continue to pledge a large chunk of their stake with banks and financial institutions. The pledged shares in some cases touch 20% to […]
Home loan borrowers are increasingly shifting loans from private sector mortgage lenders to public sector banks (PSBs) to take advantage of the wide difference between the interest rates for existing borrowers of private lenders and new borrowers of PSBs, said executives of two public sector banks. Take the case of Rajat Sharma (name changed), a […]
Maytas Infra on Monday said three of its promoters, including Ramalinga Raju and Rama Raju, have pledged their entire holding of 15.14 per cent in the company to lenders. Ramalinga Raju, the former Chairman of fraud-hit Satyam Computer, has pledged his entire holding of 48.54 lakh shares representing 8.25 per cent of the paid up […]
Officials of the air intelligence unit at Delhi’s IGI Airport recently identified a traveler suspected to be carrying huge cash in his baggage. But before the suspect could be detained, he had boarded the aircraft for Hyderabad. All that the airline staff could divulge about the traveller were his initials and mobile number. The number […]
The Income-Tax department is scrutinising companies that have set up subsidiaries or units in special economic zones (SEZ) after it foundthat many of these firms were using their SEZ operations as a vehicle for claiming undue tax benefits. The modus operandi adopted by a number of companies is to manipulate the accounts to transfer the […]
The Income-Tax department has mobilised a large number of staff members from its local offices for a comprehensive investigation into the fraud in Satyam Computers. A top official said the staff will join duty in a day or two following the IT Chief Commissioner’ s orders earlier this week. He said the investigations would not […]
Appointment of external auditors for bank audits continue to be mired in controversy. After the auditing profession regulator, the Institute of Chartered Accountants of India (ICAI), it is now the turn of the bank employees to oppose the freedom given to public sector bank boards to choose the statutory auditor.
The Serious Fraud Investigation Office (SFIO) has initiated probe against 25 individuals and 325 companies related to Satyam. That includes Pricewaterhouse Bangalore, the auditors of the firm. At a time when the government is acting against the auditor in this case, the question that arises now is, will the ICAI act?
The Institute of Chartered Accountants of India will pass a ruling directing all firms to get their internal audits reviewed by an outside’. Uttam Prakash Agarwal, who has replaced Ved Jain as president of ICAI with effect from February 5, said that this practice of an external firm reviewing the internal books of a company […]
