Audit News

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 | 8361 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 | 15108 Views

ICAI unhappy with relaxation of audit norms

15 March 2007 at 05:31

The Institute of Chartered Accountants of India has taken up cudgelswith the Reserve Bank of India after the banking regulator relaxednorms and spared bank branches with less than Rs 5 crore business fromcompulsory audit.TheRBI move has huge ramifica

Posted in Audit | 7938 Views