« Top Headlines » Open DEMAT Account in 24 hrs  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation  How Tally Prime Supports the Real Estate & Construction Industry in India  Comparison Between Tally Prime 6.1 and Tally Prime 6.2  How Tally Prime Renewal Helps Save My Data  Where to Buy Tally Prime 7.0 at the Best Rates Possible  CBDT extends specified date for filing of various reports of audit for the Assessment Year 2025-26  Tax audit deadline nears: Will Finance Ministry grant an extension?  Are large income tax refunds getting delayed? Here s what you can do if you are yet to receive refund  MSME Form 1 for Enhanced Reporting in Tally Prime Silver «  Tax sleuths on Satyam trail... Satyam scam: Auditors in the line of fire... » CAs could be barred for lifetime, if found guilty, says ICAI January, 08th 2009 Apex chartered accountants institute ICAI has so far barred CAs from practising for a maximum of five years in 41 cases, but may ban those involved in auditing Satyam books for life, if found guilty. We have written to the disciplinary committee of ICAI. If found guilty, CAs involved in Satyam Computer's auditing could be banned for lifetime, Institute's President, Mr Ved Jain said here. Mr Jain said before the body takes any action against the members involved in the fraud, it needs to collect all facts and information so we are looking into that and we will start our proceedings, he added. So far ICAI has taken action against 122 CAs in various auditing irregularities, he said. As many as 41 cases were big, where CAs were debarred from practising for five years, Mr Jain said. He said the institute cannot take action against PriceWaterHouseCoopers, auditors of Satyam Computer, but only against individual CAs. We will ensure that to any person who has not worked according to our standards and our expectations, severe punishment be given, he said. In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of Company Secretaries - ICSI. Following a letter from Satyam Chairman Mr Ramalinga Raju, who accepted that he had misrepresented facts in the company's balance sheet, the role of auditors and accountants for the company has also come under scanner.