« Professional Updates » Open DEMAT Account in 24 hrs  Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects  Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-C & Set-D)  India to be Accounting and Finance Hub : Invitation for Comments/Suggestions: Consultation Paper on Draft IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations 2024   Auditing and Assurance Standards Board - Online Panel of Experts for addressing Bank Branch Audit related queries  Board of Internal Audit and Management Accounting of ICAI is organizing Webinar on "Identifying Red Flags and Report Writing by Internal Auditors" - March 27,  Revised Applicability of Peer Review Mandate (Phase II & III)  Important Announcement - Reschedulement of Chartered Accountant Examinations, May 2024   IMPORTANT ANNOUNCEMENT  Extension of Last Date for Online Empanelment of Members to act as Observers for May/June 2024 Examinations up to 15th March 2024  Empanelment of Members to act as Observers at the Examination Centres for the Chartered Accountants Examinations May/June 2024  Guidance Note on Audit of Banks (2024 Edition) «  Ullas Kamath of Jyothy Labs wins ICAI 2008 CA Business... IPCC Registration Counter to remain open on 31st January,... » Why ICAI stays quiet on PwC? January, 29th 2009 PriceWaterhouse partners S Gopalakrishnan and Srinivas Talluri have been arrested in the Satyam scam but the Institute of Chartered Accountants of India (ICAI), citing lack of evidence, has taken no action yet. Well, is this regulator effective enough or a mere a rubber stamp for CAs? The PwC partners have been in custody for over three days now but ICAI is still quiet against the alleged partners. The Institute says that police arrests do not provide enough evidence to take any action against its members. Ved Jain, president of ICAI, said, Police arrests is for the purpose of investigation only. Its nothing beyond that. You will agree that whatever the statements are made are not to be considered as part of evidence in the court of law. So, for taking action under my law there is enough mechanism that we follow and we will carry out investigation at our level. ICAI further says that the law gives the institute a limited mandate under which it can function and does not allow all chartered accountant defaults to be governed by the body. There is a limited sphere where we operate. The institution does not have the mandate to punish people for forgery, cheating and other offenses that are covered under the Indian penal code. We are only concerned with the licenses." Now, as the Satyam story unfolds, it is also bringing some realities to the surface in terms of justice to the offenders. The ICAI, which is projected to be taking care of all issues in the accounting world, is actually tied under the ambit of law for showing results.