Are you aware? plz read it till the end, I beg.

1945 views 24 replies

As I promised I am back to share this reality with u guys. Hope u remember the story I posted!!!

Hey friends this is something very important and I hope u will understand the depth of this issue.

A year ago I advised 1 of my friend to invest his savings in shares instead of depositing in bank I explained him how he can earn at least rs 100 a day. I told him that my father has been investing since 25 years. I explained him that though it is risky but u can master it if u keep in touch with day to day happenings, reading news papers, company reports as they include the company’s current position, its future plans etc .he was convinced  and he earned a good profits some times and bared some losses too . Then he started investing all his salary keeping aside money for his mother (father passed when was 6. Since std. 7th earned his livelihood by delivering paper and milk and then used to attend school. Scored distinction in 10 and 12) he was working in Citi Financial 9 months ago. Now that Citi group has closed most of its units in India and abroad too, he lost his job and further lost all 300000 invested in shares due to steady crash in markets.

Now u all r thinking that why am I telling this to u guys, as this is nothing new many suffered the losses!!!

But this boys case is different coz, he was gathering this money since he was in 7th. As his mother is aged he completed graduation and stopped, convincing himself that he can complete his education later but his mother might not be there to experience his prosperity, so that(invested) money was the outcome of his sacrifice and day n night hard work(actually).

Now let me come to the point, who is responsible for this, “yes, I agree I am the one”. I was feeling guilty of myself actually m still feeling……. But let me tell u the truth read carefully……..

Last Tuesday my boss ordered me to complete 1 pending tax audit. And I was surprised  by what I saw …… what I saw was, my principal had filed the tax return without scrutinizing the books of the client (contractor and builder). And when I told him that most of the bills are missing, there r payments exceeding 20000, vouchers r missing, there r personal expenses etc. he ringed up the accountant and told him to make vouchers on separate dates for payments exceeding 20000, and tick out the unmarked items with green pen himself (isn’t this shocking?). If this is the condition then why r we CA’s here for? Why r there rules and laws? Why r we studying that auditing and all that stuff, if we don’t want to follow those rules?

We CA’s r considered as the most respected ones, people invest their money in various organizations coz they believe us, they believe that there money is safe coz we r providing them correct and up-to-date position of those organizations, firms companies etc.  

I would have raised my voice against this crime. But he will be the one deciding whether I will b a CA or not!! I would say we are no good than the terrorist if this is the scene, we r attacking people’s dreams, there lifelong sacrifices.

The auditor who was auditing citi group wasn’t aware of its position? And what about those Lehman bros, Morgan Stanly etc. yes I agree that this is the old issue, but since I have been the eye witness  of its  effects I couldn’t  stop cursing CA’s of such kind…….

4 days ago I met the same boy and I literally couldn’t stop crying coz that boy was starving since 2 days .  He said me “ plz stop crying. This is not the first time I am starving, Ab iski to adat pad gayi hai.”

But I have decided to help him and wash off my sin. I have given him my stipend, I know it is not enough but will prove useful in such a condition and will give my stipend until he brings stability. My parent’s r there to take care of me and my expenses……….

So plz friends don’t let this happen…..money is not everything. If we take bribe to bring prosperity and luxury in our life, that money will not last forever neither u can enjoy the pleasure bought by that money. ENJOYING LIFE AT OTHERS COST IS NOT HUMANITY.

 I am not saying that every CA is the same but it is a fact that there r some who think of themselves. We r paid good compared to other professions then why to commit such acts. Plz give a serious thought to this subject.

And please pray for such people who lost their jobs, their money, and some have lost their closed ones too( committed suicide). Plz pray for this guy He is just 24, circumstances may force him to commit suicide, so pray God not to let this happen.

I m not against all CA’s but sure m against CA’s who r not true to profession.

Thanks.

 

Replies (24)

you are right but I think very few of us will read it as it is too biger than article!!!

but keep hope as I read it so will other members....and keep fingers cross

Remember we r not dolls nor r we servants under the hands of our cliants, we r servants of our fellow citizens, our nation. we decide what is true and fair that means we r provided with the authority to give justice to each and every people, their money and their trust.

I really appreciate your feelings. I give you BEST LUCK for your completion of CA Course. But keep it up once you drove yourself into practice.

Not only this much, but false tax audits and like leads to large scale atx evasion. Remember Our brave policemen who died on 26/11.....Well, Many of them died becaus they stepped right in the middle of hell to fight with those terrorists without protective gear. ( Including Mr. hemant Kharkhare who had only a outdated bullet proof jacket on, which wasnt bulletproof by ak-47 stds ).

And why didnt they have protective gear ?? Because the Govt. doesnt have money to pay for all that. And no prizes for guessing why doesnt the Govt have money ?? Well, Its the corrupt builders, businessmen, and money launderers. And CA's today are noooooo more than money launderers.

priyanka, i have read thru the whole article and the crux of that is CA's should work with integrity and honestly.

But, practically speaking in most of the small n mid sized CA firms is not the case. Coz CA's audit not d way that rules and statutes say but the way their client says. Its disheartening and feeling of a culprit when u are involved in such work.       But, if u analyse this working situation carefully my dear,  its not only the fault of those few CA's.. d fault is in the system.. in The inherent corruption, bribery n greed. The solution requires a change, a change in the our thinking, our approach to our assignments as professionals and a musch much reuired change in the whole SYSTEMS of the country.

I pity all those who have lost there jobs, commited suicides, but the thing is that slumps wud come and go if our system can stand it and still create employment oppurtunities for us people. 

Wishing ur friend n all others who have suffered gud luck and may our thinking as professionals and students and the nation as a whole change and corruption is root of every problem.

 

Any one interested in forming a really serious movement for rooting out corruption in the financial system ??

Stand up guys, or just have your ass screwed everyday by unscruplous builders, companies, etc....N at the end of the day, grumble that NOTHING CAN EVER HAPPEN IN INDIA....

that s what priyanka said. We can wish to NOT to be a part of the system if it wasnt the greed for some money and clients...Pity saurabh believes the system has to change first. Dude, WE make up the system.

 Ca is just like a lawyer –I pray from god that you become in future a true ca

And portray a true and fair picture of audited accounts

As you portray a true and fair picture of now- a-days- financial society  

 

Dear priyanka

I reallt appreaiate YOU for ur ARTICLE

BUt to say frankly many CA's are undergoing with the same Practices.

They are not working with integrity and honesty

in this entire world they are many CA's and even the organisation s are paying bribe for these CA/s to close their mouths

many CA's are accepting this also

the articled students who are working under such CA's  are forced to close their mouth's

this is the situation in our india

Its really shame for us

ans its only because of these CA's who are not true to their profession

 

 

Its high time, we shud understand our responsibilities....and all of this depends upon the person concerned. thr is a section which can compromise on thr professional ethics & thr is one, which cannot. we shud all be careful not to land up in the 1st category...

Hai priyanka this is anantha can u give his details who have lost his money in shares and job too don't think otherwise im also a ca final student at present im  in hyderabad

thank frnds for ur participation n happy to know ur views. so let us vow that we will not ba a part and parcel of such shamful act.

friends i m providing you this link below so that u can evaluate this issue. I m not the only one blaming such auditors.........

www.rediff.com/money/2008/oct/15bcrisis.htm

yes, i m agree from ur opinion.

& in real this story very inspirative for everyone

vaibhav

PCC

These are very good thots that u hav put forth. I appreciate them. I will see to it that I will give my share in this low time.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register