Audit News

Mandatory Cost Audit in Service sector

25 August 2007 at 11:26

New Delhi, Aug 24 Companies in the services sector and all listedmanufacturing companies may soon have to hire cost accountants undera new formula being worked out by the government to beef up the roleof corporate cost audits.According to sources in

Posted in Audit | 14352 Views

Frequenlty asked questions on MEF

19 August 2007 at 12:35

Q 1 - UCN -Not Allotted I have been allotted a Unique Code Number ( UCN) but, when I download the application, UCN field is appearing with the words 'NOT ALLOTTED'. What do I need to do ? Ans The Applicant needs to fi

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MEF date extended

13 August 2007 at 08:20

Last date for submission of MEF for the year 2007-08 extended to August 21, 2007.Last date for receipt of hard copy of duly signed declaration extended to August 31, 2007.

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BANK EMPANLEMENT IS READY !!

11 July 2007 at 22:46

IMPORTANT ANNOUNCEMENT Multipurpose Empanelment Application Form for the years 2007-08 Members may please note that the Multipurpose Empanelment Form for 2007-08 has been hosted on the website www.meficai.org on 11th July, 2007. The last date for sub

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Mandatory cost auditing norms may be revised

21 June 2007 at 07:38

June, 21st 2007Sensitive operational details of a large section of corporate India are likely to come under government scrutiny soon. The ministry of corporate affairs has started reviewing the way it orders mandatory cost audits on companies to opti

Posted in Audit | 3 comments | 4599 Views

Multi Purpose empanelment Form for 2007-2008

09 June 2007 at 03:40

Multipurpose Empanelment Form for the year 2007-08Members may please note that the Multipurpose Empanelment Form for the year 2007-08 is likely to be hosted around mid of June, 2007. Members may also note that clear 30 days time would be given for fi

Posted in Audit | 10113 Views

Bank Audit Fees- Revised

07 June 2007 at 03:09

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07 RBI/2006-2007/ 429DBS.ARS.No.BC. 08 / 08.92.001/ 2006-07June 6, 2007CONFIDENTIALThe Chairman & Managing Director, all Nationalised Bank

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Auditors with only ICAI certificate to scan books of listed firms

13 May 2007 at 01:22

Following the request of the Securities and Exchange Board of India (Sebi), the Institute of Chartered Accountants of India (ICAI) has decided that the audit of listed companies and public sector undertakings will be conducted only by auditors holdin

Posted in Audit | 7551 Views

CAs can accept more tax audit assignments

13 May 2007 at 01:14

The Central Council of the Institute of Chartered Accountants ofIndia (ICAI) has increased the ceiling on the number of tax auditassignments that a chartered accountant can accept in a financial yeareither as partner or proprietor. "The ceiling on ta

Posted in Audit | 8220 Views

Good News- Allotment of bank branch audits - Relaxation

17 March 2007 at 05:12

My dear colleagues,Sub.: Allotment of bank branch auditsYoumight be aware that the Reserve Bank of India has recently decided torestrict audit of bank branches, to such branches whose advances aremore than Rs.5 crores. Hitherto, this limit of auditab

Posted in Audit | 15006 Views