BAD news
FM has rejected ICAI's claim and 20 cr proposal of RBI is accepted
As per CA Amresh Vashist Face book
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Bank branch statutory audit 2011-12
Replies (115)
BAD news
FM has rejected ICAI's claim and 20 cr proposal of RBI is accepted
As per CA Amresh Vashist Face book
FM Rejected our plea & accepted 20 Cr. Proposal of RBI
From: Anand Saxena <sanandfca @ ...>
To: ICAI_CIRC_MEERUT_CA @ yahoogroups.com
Sent: Monday, March 19, 2012 12:08 PM
Subject: Re: {Amresh's CA's} Bank Audits!!!- Congrats Everyone
To: ICAI_CIRC_MEERUT_CA @ yahoogroups.com
Sent: Monday, March 19, 2012 12:08 PM
Subject: Re: {Amresh's CA's} Bank Audits!!!- Congrats Everyone
Very True. Proper representation of SMEs is the necessity of hour. We need a Union Like structure to ensure the interest of majority of the profession which belongs to the proprietors and small practicenors and not to the CATEGORY - I.
We must prepare our candidates for the next elections.
CA Anand K. Saxena
JHANSI
9415031726
On Fri, Mar 16, 2012 at 7:12 PM, Vansh Mehrotra<vanshmehrotra @ ...> wrote:
Our firm belongs to Category 3.Wat r our chances of getting bank Audit?
Bank Branch Auditors' Panel for the year 2011-12 (sended by ICAI to RBI) |
||
CATEGORY |
TOTAL NO. OF FIRMS |
% |
I |
1440 |
5.48 |
II |
2402 |
9.14 |
III |
4095 |
15.59 |
IV |
18338 |
69.79 |
TOTAL |
26275 |
100.00 |
category 111 firm chances of getting audit only 15.59%.
Very Ture
We have to take care in next election and need to give VOTE to the right candidate
Union is there - but for own interest
what is the difference between samll and big firm. All are qualified from Same prestigious Institute
Do you believe that all the partners from big firm are going for audit every where?
What the hell is going on?
Bank Audit - No Allotment to samll firms
Tax Audit - 40 lac to 60 lac and now 1 cror
Very Poor Unity - Work for own interest rather than best stronger professional Institute
Yes, rightly someboy says....20% - 40% income of proprietorshiop firm comes from Bank Auit. Can category I / II firms refuse to accept auitd unless small firms r allotted . NO, they don't have the courage to do that. Institute always argues...few CAs ....or noboy ( freshers) is interested for the profession. Vrey funny. Now, SME firms...rely on regular professional work or go for jobs.
SOLUTION TO THIS PROBLEM IS ALLOT ONLE ONE BRANCH PER FIRM EVERYONE WILL GET AUDIT
There is still no official confirmation from ICAI or RBI
Is there any legal remedy available with institute ? Do the RBI has power to regulate the audit or they have the power to restrict the appointment of auditors ? Is the restriction on appointment of audit is in the interest of the public, shareholders or investors. The other countiries are trying to load the additional responsibilities on auditors and widening the scope of audit after lehmen brothers. Does RBI has taken the right stand by restricting the scope of audit ?
No we have no legal remidies to oppose the decision of Finance ministry.
Can we the affected CAs boycott the Central council elections ? Any how there is no use voting in it. The affected members can start a forum and think about steps putting pressure on the incapacitated and impotent Institute.
Unless and until we get official confirmation about the same, there is no point in discussing the issue. Wait for some more time & things will be clear
Wait till 25 th March 2012...the dead line for all.Then we discuss what to do.
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