Those days will come soon when CA's who are know for their special knowledge, skill & who passed with the toughest exam of the world will be treated at par with advocate. No bank audit, increase of tax audit limit upto 100 Lacs will surely make newly CA enemployed & forced them to leave the practice and go for the job. Now the boss will become the employee of others. There is great worries about the CA who is practicing in small town/villages. All most all work gone from them due to this amendment in budget.
What the top members/president of ICAI doing in these regard??? Why they dont make realise to RBI/Finance Ministry, that incerasing tax audit limit & no bank audit will create unemployment in the Chartered Accountancy Profession.
There is danger that quality of audit will deteriorate as new CA will forcefully accpt the tax audit at much lower fees & ultimately create competition amongst the members. Clients will take advantage of this and bargain for more lower audit fees which at present also at very low level.
This is very serious matter of concern for all the CA's. All members should unite & raise voice in this matter & let realize to the top members/president of ICAI.
CAclubindia
