LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Accounting software compliance

Pavan (ABCD) (26 Points)

24 June 2009

Hi Guys,

I am an MBA student in the US interning at a ERP software firm, which is looking into entering into Indian market.

Could any of you please let me know if financial softwares in India need to get certified from ICAI or any of the govt. bodies for accounting standard compliance? Are there any laws that govern the finacial software usage? Looks like there are such laws in Europe and Israel, but I am unable to find any information on India.

Any help is appreciated!

Thanks very much,

Pavan

Reply
Follow
Share

2 Replies

Rakesh Pandya (consultancy) (211 Points)
Replied 24 June 2009

Dear Sir Please Let us Know the Name of the Company and Status of Company is Company Developing the Software or Just Selling the Developed Products.

Pavan (ABCD) (26 Points)
Replied 24 June 2009

Thanks very much for your response Rakesh. Unfortunately, I am not at liberty to disclose the name of the firm on a public forum for confidentiality reasons. We will definetely employ counsel in India at a later point, but right now I am just doing the initial research.

Our company develops software in the US and planning to sell the same in India. Will the regulations be any different if we decide to develop part of the product in India?

Thanks very much in advance for your help.

Best Regards,

Pavan