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Unique Code Numbers to CAs to check fraudulent practices


Rahul Gupta (Project Controller ACA MBA(Fin.))     25 January 2011

Rahul Gupta
Project Controller ACA MBA(Fin.) 
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Unique Code Numbers to CAs to check fraudulent practices

 

The Institute of Chartered Accountants of India (ICAI) will introduce Unique Code Numbers (UCD) from next month for Chartered Accountants (CAs) to help them check increasing incidents of fraudulent practices, including forged attestations, ICAI President Amarjit Chopra said today.

Once introduced, ICAI would ask banks to insist on UCD, as people file different balance sheets for various purposes without the knowledge or approval of CAs, he told reporters here.

The institute is being assisted by the software giant Infosys in this endeavour, he said.

He said ICAI, as part of 'Project Parivarthan' has initiated several operational process to meet global benchmarks.

One of these was virtual classrooms for coaching students, which would commence in February in 25 centres and be extended to 250 centres in the next six months, Chopra said.

ICAI is geared to meet the deadline of convergence of the Indian Accounting Standards with the International Financial Reporting Standards (IFRS), effective from April 2011, in select entities as per the government roadmap, he said.

To synergise the training process, ICAI has launched various programs with a view to familiarise the professions with IFRS and equip them with essential knowledge of the same.

Special workshops have been organised with bodies like Indian Institute of Corporate Affairs and Standing Conference of Public Enterpriss on managing transition to IFRS that poses a great challenge to makers and users of financial statements and to the reporting authorities -- the practical implication of IFRS, Chopra said.

 

https://www.business-standard.com/india/news/unique-code-numbers-to-cas-to-check-fraudulent-practices/123181/on

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Aditi Kaur (Practising CA)    1 September 2020

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Manmohan ACA, CS (Chartered Accountant )     25 January 2011

Manmohan ACA, CS
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hey  great news 

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CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat)     25 January 2011

CA SURENDRA KUMAR RAKHECHA
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Really very good news for the profession.

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Santhosh Poojary (SIEMPRE AHÍ PARA TI)     25 January 2011

Santhosh Poojary
SIEMPRE AHÍ PARA TI 
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Welcoming step by ICAI.

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CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487)     25 January 2011

CS LLB Pulkit Gupta
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Originally posted by : SAN...

Welcoming step by ICAI.


(Guest)

Originally posted by : SAN...

Welcoming step by ICAI.

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CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN")     26 January 2011

CMA. CS. Sanjay Gupta
"PROUD TO BE AN INDIAN" 
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Fantastic News or Finance Fraternity and the profession itself.......

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Tehsinkhan Pathan (CA CMA DISA(ICAI) B.COM)     26 January 2011

Tehsinkhan Pathan
CA CMA DISA(ICAI) B.COM 
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A GOOD NEWS FOR CAs................

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Aditya Maheshwari (CA in Practice)     26 January 2011

Aditya Maheshwari
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Good news for CAs. However if the same needs to quoted again then the same could be misutlised again. So it is mentioned it will help to check fraudalant attestations but what and how the purpose will be solved is a question left unanswered.

Also they state it would start next month, which is less than 4 days away.

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RADHIKA JALAN (agarwal)     26 January 2011

RADHIKA JALAN
agarwal 
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good news........thnx 4 sharing.......


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