101 ca status

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 NUMBER OF CA SHOULD NOT BE MORE THAN THE REQUIREMENT
SUPPOSE IF NUMBER OF CA MORE THAN THE REQUIREMENT THEN IT MAY CHANCES TO DAMAGE CA'S INDEPENDENCE WHICH IS AGAINST FUNDAMENTAL PRINCIPE OF CA

WHAT IS YOUR OPINION

Amol S Joglekar

Amol S Joglekar (Expert)
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05 June 2014 a highly arguable and debatable issue...... some points merrit consideration are
01. There is always a room at the top
02. Is the independence got affected where the number is not governed...say for example L.L.B. or D.T.L. or Doctors and so on
03. So long as CAs are being paid by the Auditee, how can one say that the independence is 100% maintained....

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 THERE IS DIFFERENCE BETWEEN MAINTENANCE OF INDEPENDENCE OF CA & LLB/DTL/DR.

INDEPENDENCE OF CA HIGHLY AFFECTED TO THE GOVT. IN SHORT OUR COUNTRY HOWEVER OTHER DESCRIBE ABOVE LESS AFFECTED

Amol S Joglekar

Amol S Joglekar (Expert)
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05 June 2014 the shades of independence may be different as u spelt out...but then what difference it makes on the number of CAs..... can u please elaborate on that...i appreciate your concern and hence asking for elaboration....please

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 I WILL EXPLAIN U 2MORO RIGHT NOW T HAVE SOME URGENT WORK THAT IS Y

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 NORMALLY , IF A DOCTOR DEMAND HIGH FEES THEN WE PAID THE SAME.
HOWEVER, IF CA DO THEN CILENT MAY CHANGE THE AUDITOR

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2014 fees is the function of "specialised knowledge and skill" The risk aversion is highly observed in profession.Whereas for cough cold and similar ailments, ppl have become reluctant to go to even MBBS doctor...they rely on the skill of a chemist. Sameway, in CA profession also similar examples can be cited. But that does not substantiate your claim of restricting the number of CAs for maintaining the independence. Your views please.....

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 PLEASE GIVE ANSWER OF MY FOLLOWING QUESTION:

MA.A IS A BUSINESS MAN HAVING TURNOVER OF RS. SAY 2 CRORE NOW TIME COMES FOR TAX AUDIT(1ST YEAR )
ONLY TWO CA EXIST IN THE MARKET : MR.C & MR. D

MR C CHARGE TAX AUDIT FEES SAY RS. 5000 &
MR D CHARGE TAX AUDIT FEES SAY RS. 6000

TO WHOM U PREFER

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2014 u r trying to make it too simplistic....it is good to be simple....but here the point is "quality based cost selection"...(By the way this the phrase used by World Bank...pls do go through the site of world bank....they have a very good manual of PROCUREMENT...)
So the answer to your question is....if it is really that "cut throat" a competition...it is really pity on the part of profession.....The best answer could or rather should have been....CA should reject accepting any assignment below a certain amount....say 25k..(I know...i am sounding to be over idealistic...isn't it?

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 I THINK PROVISION PERTAINS TO UNDERCUTTING FESS HAS BEEN REMOVED

IT WAS WRITTEN IN CA ACT.
CLAUSE 12
PART 1
OF FIRST SCHEDULE

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2014 that is absolutely correct.....but in reality if CAs r fighting for INR1000, it is really pity on their part. (And if it is true.....as rightly said by you.....ICAI should think of controlling the number of CAs)

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