I THINK THE BEST SOLUTION IS THAT THE AUDITS OF LISTED COMPANIES BE ALLOTED BY CENTRAL GOVERNEMNT OR SEBI OR C & AG LIKE PSU AUDITS .....THIS WILL ENSURE INDEPENDENCE OF AUDITORS .
YOUR OPINION PLEASE!
Late CA Sampat Jain (Chartered Accountant) (4772 Points)
12 January 2009I THINK THE BEST SOLUTION IS THAT THE AUDITS OF LISTED COMPANIES BE ALLOTED BY CENTRAL GOVERNEMNT OR SEBI OR C & AG LIKE PSU AUDITS .....THIS WILL ENSURE INDEPENDENCE OF AUDITORS .
YOUR OPINION PLEASE!
ASHISH YADAV
(Chartered Accountant)
(119 Points)
Replied 12 January 2009
Krunal Raichura
(Financial Advisory)
(2134 Points)
Replied 12 January 2009
Fraud cannot be deterred with mere pecuniary and criminal punishments and the deterance should be a social one which is in absentia.
Prakash Popat
(3134 Points)
Replied 14 January 2009
Let's Hope that Govt create more employment oppurtunities for CA.
Ameet
(L)
(1678 Points)
Replied 14 January 2009
WHO IS SURE THAT IT WILL NOT HAPPEN UNDER CA SELECTED BY CAG.
CMA.Devarajan Swaminathan
(ACMA)
(1067 Points)
Replied 14 January 2009
If SEBI or any other Authority starts allocating audit, in all probability it will only result in back door entry by the auditor.
In my view its high time we have an audit governing structure like the US, the UK or even in Canada. But that again does not guarantee a clean audit.
Ethics is sadly missing in governance.
CA. Rajeev Aggarwal
(Chartered Accountant)
(3419 Points)
Replied 14 January 2009
Audit shuld be very hard and productive
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 14 January 2009
I think more power should be given to the CA's ....... for big companies, make CA's the internal part of management and specially for financial decisions......and with that more accountability should be added to CA's
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