Chartered accountants' regulatory body, the Institute of Chartered Accountants of India (ICAI), has asked Everonn Education for its books, after the company got embroiled in a tax evasion and bribery case.
The CBI arrested Everonn's founder and managing director P Kishore for allegedly bribing a tax official and trying to conceal taxable income of Rs 116 crore. The agency said Kishore asked a tax official to suppress Rs 60 crore of the total taxable income for a bribe of Rs 50 lakh.
"We are closely working with the CBI to get to the root of the problem. On the face it, the auditors may look guilty, but we are trying to get further , by knowing what kind of numbers have been presented to the auditors for them to sign the balance sheet," G Ramaswamy , president, ICAI said. The ICAI chief did not divulge details on the investigations . Everonn's annual report shows a firm, P Chandrasekar , from Bangalore as its statutory auditor. (Times of India)
CAclubindia
