1. Institute should take immediate action against non Chartered Accountants doing audit false, By initiating criminal Cases under various section like 420.
CA. Rajesh Kumar Agarwal
Chairman Cuttack Branch
Jagatpur, Cuttack
Odisha
Dear all,
I fully endorse the views expressed by the Member. Please do the needful.
CA Hardik P. Shah, RCM
WIRC of ICAI
REVISED DRAFT MEMORANDUM:
SENIOR CITIZEN BENEFITS
Senior citizens may be provided with the following benefits:
1) Exemption from CPE hours
2) Exemption from Fees of Membership
3) Exemption from Fees of COP
BANK AUDIT LIMIT: DRAFT ADDITIONAL ACTION PLAN NEEDED
MEDIA'S SUPPORT:
· Possibility of support from media should be examined.
· Possibility of discussion on all media channels on topic "How can increasing the limit of bank branch audit affect the health of the bank and how it can lead to another bank scam" should be examined.
· Possibility of discussion on media channels on topic "Recent Cobra post and increasing bank branch audit limit" should be examined.
· Possibility of Press conference on major cities on above topics should be examined.
Kindly email your suggestion to moreassociate@gmail.com
CA NITESH MORE
9883157484
DRAFT BASIC REASON FOR CUT THROAT BIDDING & ROAD AHEAD
PREPARED BY CA NITESH MORE
1) We are 2.25 lakh CAs and more than 10 Lakhs CA Students.
2) If only 25000 CA qualifies / year than it will take 40 more years to clear present strength.
3) It will result in increase of 10% members of ICAI every year.
4) Is job market ready to absorb that ? I think no. They are coming and will join for practice, which will create more gap and will result in more cut throat competition.
5) The Basic Reason for cut throat bidding is demand supply gap.
SOLUTIONS:
1) Improving the Quality: Stress should be given in improving communication skills, practical oriented questions and paper on finance to enable our students to compete with MBA's.
2) Higher % in CPT & Direct Admission: It will take 40 more years to clear present strength of CA student. Passing marks required in CPT as well as in direct entry should be increased to 60%.
3) Number of attempt in IPCC: The no of attempt in IPCC should be reduced to 3. Existing Re-registration provision after 5 attempt should be scraped and there should not be any re- registration provision.
4) Limited number of attempt in FINAL: The no of attempt in FINAL should be introduced and it should be 5.
5) DVD s/micro sd cards OF LACTURES TO STUDENTS: ICAI should provided DVDs/ micro sd cards of lectures of all subjects to students so that they can learn at their convenience. Again, as no of total students is 10 Lakhs, COST / SDs cards of Lacture will be as low as Rs. 500.
I INVITE YOUR COMMENT & SUGGESTIONS TO BE INCLUDED ON MOREASSOCIATE@GMAIL.COM
CA NITESH MORE
9883157484
11 POINT DRAFT MEMORANDUM TO ICAI ON CUT THROAT BIDDING & PROFESSIONAL DEVELOPMENT: SUGGESTIONS INVITED
DEAR SIR,
I invite your valuable suggestions to be included in the memorandum and comment on the following. Kindly email your comment and suggestion to moreassociate@gmail.com
FACTS:
1) A CA QUOTED RS. 174 / GRAM PANCHAYAT FOR PANCHAYAT AUDIT FOR HOOGLY & ANOTHER CA QUOTED RS 224 FOR COACH BIHAR,WB.
2) ANOTHER CA QUOTED 23% OF AUDIT FEES IN C.Y. TO LAST YEAR FEES TO SECURE WORK OF HUDCO.
MEASURES EXPECTED FROM ICAI:
1) RE-ESTABLISH EMPANELMENT SYSTEM : We request to re-establish system of Empanelment by RBI by widening its scope i.e. for All type of Bank Audit, whether concurrent, Staturary, revenue. A copy of Report should also be submitted directly to RBI. Everyone knows benefit of appointment by Independent body. Now, everyone know, how firms are appointed by adopting unethical means. Previously, system of Empanelment was there in Bank audit & appointment by RBI was there. Why such system was scrapped?If any deficiency in system was there, than such system should have been refined instead of scrapping.
If RBI is not ready to take the responsibility of appointment than ICAI should establish a " independent cell of its staffs"' for appointment
2) CHANGE TENDERING SYSTEM: We CAs will not gain with such tender system. Even panwala, autowala, rickshaw wala, all fixes minimum price in a remote village. Change in system is also needed apart from awareness among CAs. I will request to impress upon ministry and authorities to have a base quotation price keeping in view of work load."Base quotation price" is the price below which no one can quote.
3) PROFESSIONAL MISCONDUCT : Securing or quoting fees below heighest of last 3 years fees should be part of professional misconduct. However, in cast of 1st year of audit, basis should be Total cost + reasonable profit.
4) CITYWISE/ STATEWISE TASK FORCE TO MONITOR: We request ICAI head office to form a "big task force" consisting of staffs of ICAI to monitor on issue.
5) CREATE AWARENESS To create social pressure on cut throat bidders, we request to email to each members the regulation for maintainance of cost sheet & consequences for its violations.
6) AUDIT OF GOVT. SPRNDING: If we could impress upon authorities, the benefits of (a)audit of each rupee of govt. and
(b)maintainance of a/c in double entry system, we will be getting a large volume of work and cut throat bidding will be automatically curbed.
7) RE-NEGOTIATE WITH MINISTRY, CAG, RBI AND OTHER AUTHORITES: Taking into account the skill and time required to perform work & inflation, we request ICAI to re-negotiate fees with authorities.
8) SUO MOTO ACTION : We request ICAI head office to direct regional councils, branches, study circles, chapters, other bidders at tenders to complain to ICAI, Head office and also request ICAI, Head office to take suo moto action against cut throat bidders.
9)AGE LIMIT OF 50 YEARS FOR ENTERING INTO PRACTICE: Like advocate, there should be age limit for entering into practice. It should be 50 years for taking NEW CP.
10) ESTABLISH A SYSTEM OF EMPANELMENT FOR COMPANIES ALSO: A system of empanelment for appointment of auditor of Companies, whether Private Ltd or public Ltd, should also be established. Appointment of auditor by an "Independent Body will further leads to independence of auditor.
11) ESTABLISH A SYSTEM OF EMPANELMENT FOR ALL TYPE OF AUDIT:A system of empanelment for appointment of all type of audit whether Tax, Bank, society, COMPANY , SCHOOL should also be established. Like examination department, ICAI should establish an "INDEPENDENT EMPANELMENT DEPARTMENT" to take care of empanelment. All audit work should be allotted by such department. Appointment of auditor by an "Independent Body" will further leads to independence of auditor. i
Kindly email your comment and suggestion to moreassociate@gmail.com
CA NITESH MORE
9883157484
Follow on facebook: CA Nitesh More--Warm Regards
CA.Nitesh Kumar More | FCA, |
Partner | More & Associates | Chartered Accountants
Follow on face book: CA Nitesh More
For adding request for google group: send an email to
Email: - moreassociate@gmail.com |
Kolkata -700001 | West Bengal | INDIA |
Mobile: - +91 9883157484 | +91 9674974186 | Tel: - +91 33 32562967 |
Warm Regards
CA.Nitesh Kumar More | FCA, |
Partner | More & Associates | Chartered Accountants
Follow on face book: CA Nitesh More
For adding request for google group: send an email to
Email: - moreassociate@gmail.com |
Kolkata -700001 | West Bengal | INDIA |
Mobile: - +91 9883157484 | +91 9674974186 | Tel: - +91 33 32562967 |
Warm Regards
CA.Nitesh Kumar More | FCA, |
Partner | More & Associates | Chartered Accountants
Follow on face book: CA Nitesh More
For adding request for google group: send an email to
Email: - moreassociate@gmail.com |
Kolkata -700001 | West Bengal | INDIA |
Mobile: - +91 9883157484 | +91 9674974186 | Tel: - +91 33 32562967 |
Warm Regards
CA.Nitesh Kumar More | FCA, |
Partner | More & Associates | Chartered Accountants
Follow on face book: CA Nitesh More
For adding request for google group: send an email to
Email: - moreassociate@gmail.com |
Kolkata -700001 | West Bengal | INDIA |
Mobile: - +91 9883157484 | +91 9674974186 | Tel: - +91 33 32562967 |
__._,_.___
No comments:
Post a Comment