Audit News
CAs can accept more tax audit assignments
13 May 2007 at 01:14The 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
Good News- Allotment of bank branch audits - Relaxation
17 March 2007 at 05:12My 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
ICAI unhappy with relaxation of audit norms
15 March 2007 at 05:31The 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
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