yesterday i hv recd the following sms....
CaRockers
Standing Committee on Finance recommends inclusion of Cost Accountant in the defination of "Accountant"
{ KYA AB COST ACCOUNTANTS BHI TAX AUDIT KIYA KARENGE, IF ABOVESAID APPROVED}
Vikrant Bansal
(Chartered Accountant)
(66 Points)
Replied 15 March 2012
yesterday i hv recd the following sms....
CaRockers
Standing Committee on Finance recommends inclusion of Cost Accountant in the defination of "Accountant"
{ KYA AB COST ACCOUNTANTS BHI TAX AUDIT KIYA KARENGE, IF ABOVESAID APPROVED}
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 15 March 2012
one more additional confusion
Digital certification is required from this year
see this PNB letter to a CA firm in CA news site
https://canewsbeta.blogspot.in/2012/03/bank-audit-2012-reply-from-pnb.html
CA Puspendu Sarkar
(Chartered Accountant)
(47 Points)
Replied 16 March 2012
Silent please .....
"the profession speaks with one voice"
now it is silent from 5th Mar-12
C.A. P. HAREESH KUMAR
(PRACTICE)
(375 Points)
Replied 16 March 2012
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 16 March 2012
The word " accountant" will include " cost accountant" also for all purposes
This change in system is waiting for approval before parliment standing committee
If passed Tax audit u/s 44AB shall be done by Cost accountant also
Tax audit limit also be raised to 1 cr.
This year 2012 is not a good year for SME firms
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 17 March 2012
ICAI president gave an interview to all yesterday - 16th march addressing bank branch audit problem
taken on webcam and posted in facebook of Mr.Amresh vashist
those who have facebook account can check and listen from following link
https://www.facebook.com/photo.php?v=10150681075609510
he says ICAI has not still accepted 20 cr..proposal.. and waiting for news within 3 days
Still we are breathing...
CA.Manoj
(chartered accountant)
(56 Points)
Replied 18 March 2012
forget about bank audit. just enjoy.
SRINIVASS
(PRORIETOR)
(27 Points)
Replied 19 March 2012
they will save costs by putting a stop on bank audits etc but will not save cost by stoping corruption like CWG, 2G to name few
SRINIVASS
(PRORIETOR)
(27 Points)
Replied 19 March 2012
pals time has come to come out and change the system 120000 CAs with families is a big vote bank for the rulling dispensation
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 19 March 2012
time is rolling out..
warch is rolling out of " Watch Dog"......
From hereon... even if allotted the show will be very hectic....
CA. Bhabani , FCA, DISA, DIRM
(Chartered Accountant)
(205 Points)
Replied 19 March 2012
Time has come to prove that branch audit is indispensable.Let's see how the Council tackles.
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 19 March 2012
BAD NEWS -
CA amresh vashist face book has declared now that FM has apporved 20 cr proposal and rejected ICAI claim
CA.Manoj
(chartered accountant)
(56 Points)
Replied 20 March 2012
Dear Friends. One of our professional colleague has reacted like below when I posted about the approval of Finance Ministry as has appeared in the wall of CA.Amresh Vasist ji's facebook Account.
Prakash Das Don't react to the garbage news. I have confirmed from PDC-New Delhi and also from CA.Sumantra Guha, Central Council Member that no decision has been taken on the bank audit. Pl don't hear rumour or spread rumour. Let us wait for the decision that will posted by ICAI/RBI or Finance Deptt.
B.Prabhakaran
(Chartered accountant)
(163 Points)
Replied 20 March 2012
Then ... what was the reason to keep us in dark room for so long time....... meeting with RBI officials / directors by FM was already over . see the link below.
https://rbi.org.in/scriptts/BS_PressReleaseDisplay.aspx?prid=26145
They have already decided ... want to test the phycology and tempo of members for quite some time....
Diplomatic people will handle the issue with diplomacy. We have to keep patience to " represent in one voice" for already known result.
K.RAMANATHAN
(PROPRIETOR)
(25 Points)
Replied 20 March 2012
I agree with what colleague CA Manoj writes-Let us be patient and see what comes last. Let us not go by opinions and suggestions.Let us control our emotions.We shall join together if the final result is not in the inetrest of majority of small firms/individual members.
K.RAMANATHAN-F.C.A
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"