CA Kunjan - www.canaresh.com (www.canaresh.com) (394 Points)
23 August 2016to icai members,
attention --> small practising CAs.
dear all, since 10 years i am wondering,how is it that e&y,delloitte,kpmg etc. are doing audit assignments, even clients in india say, audit was done by them, yet they can advertise, sponsor events etc. in india?
isnt it a a big sham that they are doing audit via an indian firm , its really not fair to us small practitioners.
i believe some supreme court petiion is pending for this, can i get some views?
regards, ca kunjan
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 25 August 2016
Yes some petition is pending but the Institute has to be proactive to move it forward. Though the Institute has framed many ethical standards to curb such practices, like work done through Associates and Associates cannot advertise etc but strong legal action has not been taken yet.
CA Kunjan - www.canaresh.com
(www.canaresh.com)
(394 Points)
Replied 25 August 2016
Thanks CA Amrita..,
ICAI just does not care, its all a sham against small CAs
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 25 August 2016
I have a different opinion here. Our Institute among the other professional institute in the field of accounting / commerce has always taken steps which is beneficial to its members. I am a small practitioner and I understand that it is a struggle to survive.
But considering the growth in the profession, it is imperative to have expertise in one of the field. Like in the good earlier days, a Chartered Accountant cannot be jack of all trades. The institute wants the members to come together in a partnership firm and develop expertise in a certain field. Where the client can get all the service under one roof but from different expertise personnel.
I think it is our duty to come together and grow and outnumber / force these firms (whose origin is out of India but practicising in India and taking our share) to stop practising in India.
CA Kunjan - www.canaresh.com
(www.canaresh.com)
(394 Points)
Replied 25 August 2016
anything illegal has to be stopped by authorities like institute.
we small CAs couldnt do anything since decades against this illegal practise of big 4s.
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 25 August 2016
In that case it will be advisable to write to the Institute regarding this.
venkat
(CA )
(1518 Points)
Replied 29 August 2016
From my point of view acquiring business and clients depends exclusively on the contacts and resources available with the firm A big 4 is not stopping small CA from practice so what you said is not correct they are many CA's of small firms earning around 2-3 Cr a year.
CA Kunjan - www.canaresh.com
(www.canaresh.com)
(394 Points)
Replied 30 August 2016
Venkat they are soliciting, branding, sponsoring, .. Its all illegal . won't u stop the thieves in ur area?
venkat
(CA )
(1518 Points)
Replied 30 August 2016
Any examples I don't feel like that they are already popular why should they advertise
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 31 August 2016
Very true. But there has to be proper representation to the ICAI to take up the matter. It there is a concern, why not write to the Institute regarding this matter.
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 01 September 2016
There is a good news. As the audit firms / Cos seek PM help to fight Foreign players due to various breach of rules and violations. Kindly refer to the Economic Times for details. Mumbai based KS Aiyar & Co and top 20 local firms have written to Prime Minister Narendra Modi. We need to support such steps and join hands in the movement.
venkat
(CA )
(1518 Points)
Replied 01 September 2016
I dont think complaining will work in fact icai is trying to allow 100% FDI in acccounting
https://icai.org/new_post.H T M L?post_id=12719&c_id=219
venkat
(CA )
(1518 Points)
Replied 02 September 2016
OR ELSE PASTE THIS IN GOOGLE SEARCH
Group to consider the issue as to whether there can be 100% FDI in LLP for Book-keeping and Accounting Services - (27-06-2016)
murthy
(Asst manager)
(86 Points)
Replied 27 September 2016
| Originally posted by : CA Kunjan - www.canaresh.com | ||
 |
to icai members, attention --> small practising CAs. dear all, since 10 years i am wondering,how is it that e&y,delloitte,kpmg etc. are doing audit assignments, even clients in india say, audit was done by them, yet they can advertise, sponsor events etc. in india? isnt it a a big sham that they are doing audit via an indian firm , its really not fair to us small practitioners. i believe some supreme court petiion is pending for this, can i get some views? regards, ca kunjan |
|
Dear Kunjan ji
I am very happy to make your/our concern alive.
But why not a INDIAN Firms themselves become BIG IV to compete the existing
Together we win
The small practioners in turn mutually help among themselves having Strategical partnership either through forming partnership or LLP and establish branches across India.
CA Amrita Chattopadhyay
(Audit & Assurance)
(13244 Points)
Replied 28 September 2016
I think that small firms are equipped to handle clients which the Big 4 are handling. All we need is the proper strategy and willingness to come together and work jointly. I have seen many firms trying to come together and building a strong network to work together but what stops them is the individual agenda rather than focusing on the collective goal.
Further, I feel that the ICAI does not take any proactive role in the network building.
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