ICAI should make strict rules and regulations for big CA firms (basically Big 4) because most of the big Indian companies get audited their accounts from big 4. I am not agree with comment given by Mr. Ved Jain:
"Jain added there is nothing like debarment with respect to PriceWaterhouse Coopers as it is not a firm registered in India. He said, "If people are found guilty then their names would be removed as members of the Institute for a specific period of time. There is also now a provision for financial penalties that can be levied on audit firms. This is as per the new CA Act. As you can see, even the Company’s Bill had proposed penalizing auditors in case they are found negligent."
whey Mr. jain want to give relief to PWC?
CAclubindia
