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 Guidance Note on Audit of Banks 2019 edition: Section A - Statutory Central Audit issued by the Auditing and Assurance Standards Board | | Suggestions from Members of ICAI for Publication on Professional Opportunities | | Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test - Computer Based Mode | | Important Announcement May 2019 CA Examinations | | ICAI Convocation 2019 (IInd Round) on 1st February, 2019 | | Result of the Information Systems Audit [ISA] Assessment Test held on 22nd December 2018 is likely to be declared on 23rd January, 2019 around 6.00 PM. | | Results of the Chartered Accountants Final Examination (Old course & New Course), Foundation Examination and Common Proficiency Test (CPT) held in November/December, 2018 are likely to be declared on Wednesday, the 23rd January 2019 around 6.00 P.M. | | Extension of last date "for complying with the CPE hours requirement for the Calendar Year 2018" - from 31st December, 2018 to 31st January, 2019 | | 2nd Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Kolkata from 27th January, 2019 to 23rd February, 2019. | | 2nd Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Ahmedabad from 19th January, 2019 to 16th February, 2019 | | Educational Material on Indian Accounting Standard (Ind AS) 110, Consolidated Financial Statements |
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| « 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? |
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| 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.
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