Dear All,
I am in complete agreement to whatever CA. Aditya Jain has said below. It is indeed shameful to see our professional colleagues resorting to price skimming practices in a noble and respectable profession of Chartered Accountancy.
This is the reason that freelancer accountants dare to ask us how much do we charge for signing an audit ( “ its only signing and not auditing”). Such practices surely disrespect our profession and our skills.
There have to be some check on the same.
Best regards,
CA. Gaurav Goel
Really it is very shame-full to all of us. To avoid this situation, I think, there should be minimum fee to be quoted by tendering company.
Institute has to make guidelines for the same.
THANKS & REGARDS:
CA Prabhakar Gupta
9810093637
I was going though your above mail and wish to add :-
1. The CA2013introduced on 27th March,2014 to be effective from 01-04-2014.
2. It may take 2-3 months minimum for the Professional faternity to understand the same and this will result in making violations of number of compliances thus resulting in professional negelgience and heavy penalities.
3. Further our bodies like ICAI/ICSI/ICWA are very much weak and in fact the representatives have their own interest above the professionals thus resulting no result in agitating.
4. What happened in 1997/98 when the Service tax was imposed on CAs etc. and not on Advocates and Doctors ?
5. It is my suggestion that instead of agitating we should adapt CHANKYA NITI:by creating a fear among our clients that they cannot do any business due to the main three restrictions
1. Not to introduce any money as Share Capital without Compliances of Private Placement offer, Special Resolutions, etc.
2. Not take any Loans or advances from any person.
3. To refund immediately all the money they have taken as loans from Shareholders, Directors(if from borrowed funds) , relatives any other person directly or indirectly ( trade Advances).
4To recover money if any paid to Directors, Shareholders, or firm, partners, Company etc,.etc. as Loans or outstanding as SilentTrade Debtors.
AND also to terrifying them with the heavy penalities and imprisonment provisions of second 447 to 449 as were published in newspapers.
AND earlier we educate our Clients and create the fear of CO2013 the better will they come out on streets, agitate and pressurize the
govt to take some logical steps like giving immunity to existing situation and give some gestation period of 6 months-1 year
regards
CA RAJNISH JAGOTA
visit us at : www. jagota.co
R. JAGOTA & COMPANY
Chartered Accountants
301, Bharti Chambers,
G-2, Community Centre, Vikaspuri
NEW DELHI-110018
CA P K SINGHAL
M. COM., LL. B., FCA, ACWA, DISA(ICAI), MBA(FIN), CS(INTER)
09313088386
CA. P.K. Agrawal
CA Sanjeev Agarwal
Really action and introspection is required in the matter
Regards
CA MUKESH AGGARWAL
Chief Managing Partner
There should be an action. Total violation of code of conduct and minimum suggested fees.
Dear Aditya
It is really disgusting to know that such a low level of practices are being adopted by our fellow members.
On the one side the Institute is issuing minimum fees to be charged by professionals under capacity building programme and on the other side there are some members
Also who charge such a low level of fees. Actually Institute must take actions against this “Tender” process. We are professionals not contractors.
Regards
This is not only case , there are many such type of lowest bids. It’s the real status of our profession.
D-88, Sector-30, NOIDA Phones :
120-2456484, 2456823, 4318296 6485499
The ICAI has laid down the mimimun recommended fees to be charged by members. The fees are pathetically low and degrading to the profession as a whole.
Dear All. (including Aditya Jain)
Apropos to subject , I would like state that
Audit of Non profit entity provides following intangible benefit apart from monetary advantages:
1.Prestige to auditor
2.Non profit entity working exposure to staffs and self ,
3.Relation management
4.Profile beatification
If some ready to sacrifices monetary advantages for the shake above mentioned intangible benefits then we must appreciate it instead carping over monetary justification.
For example ,We do most prestigious colleges audit even for zilch(Rs2000) then someone cannot impute us for monetary justification.
Audit allotment of any Non profit entity which is done by tendering process , should not be questioned until someone has cogent reasons and evidences about unfairness in audit allotment and for monetary justification.
Casting aspersions on someone without Sufficient evidences is known as Kejriwal disease. It should be avoided by mature professionals.
Disclaimer -( I am not connected (even I unknown to them), directly or indirectly with M/s S K Chaddha and Goel Parul & Co.)
Regards
CA(Dr.) Gaurav Dixsit
FCA ,ASA(Australia),PhD,M.Com ,B.Com(H)
(9899069319)
It is better to forget audit, unitedly, every body just like Gem and Jewellery Association did in the last budget. If every one decides not to do Statutory audit for the reason of Illogical, Harsh, Atrocious and Obnoxius provisions in the Companies Act, 2013 and handsover resignation letter to the client and client forwards the letter to MCA stating non availability of auditor due to which audit could not be performed, then there will be no alternative but
Government has to understand realities and well established position of the Auditor and his scope and basic responsibility casted on the Auditor.
Audit is a test check function and certain matter, may be very serious, may remain out of sample size selected. Broadly Auditor is to certify true and fairness of the Account. Wherever there is village / town, there has to be dirty place also which will co-exist. With every Posh Living area, there is always Basti / Jhupadpatti also where people are living and working as maid / servant in the flat of Posh Area. Simillarly, fraud has to happen wherever there is business. Our leaders are involved, indirectly in fraudulent scam of lakhs and crores of rupees. Thus occurring of fraud is a natural corollary of working organized business. The fact has to be accepted. For this fraud, Management has to take care and auditor can not be held responsible.
Without fraud business can not exist. IN fact happening of fraud proves that business is running. Otherwise it will be charity only. A peon goes to a place by ordinary bus which costs him fare of Rs.5/-. He charges for mini bus fare, which costs to the company at Rs.7/-. Does Government expect that auditor has to report such fraud by compiling hundreds and thousands of such daily conveyance journey performed by peons.
My dear friends, if you don’t report above incident, you will be penalized and I need not elaborate further, you know the minimum penalty which can not be condoned by any officer, MCA chief, Ministry or even any court including Supreme Court of India.
So whoever has send this mail with above subject, I fully appreciate the concern expressed in that mail. You all have to ensure that you should not take any audit job which has been denied to be performed by existing auditor. This unity is required from our level.
With regards,
Sir
Outsourcing work to juniors/freshers is no doubt good work by professionals as it helps freshers to build their practice specially in struggling days of initial years of practice.
CA. Madhur Gupta
With the mountain of duties and responsibilities casted on the professionals in CA, 2013 and by MCA Circulars ans Notifications, Do you think that professionals would "Venture" to perform audits/certifications. Though professionals should perform their and carry out their duties with full honesty,sincerity, independence, and diligence but with the over-burden of responsibilities casted on Auditors and the penalties on failure to perform as per stipulated provisions is actually a "Third Degree Torture".Fees that is received, amount of skill people that would be required, management co-operation etc all have been overlooked in framing the stringent provisions.Even companies will vanish and entrepreneurs would never think of starting company.
Its time that we CA, CS join hands and raise our voices against it. Let us not wait and expect somebody else to put forward our plight.I would like to request all the group members, moderators, ICAI/CS Branch office representatives and each and every professional to join handsand to raise voices against the same and let us in a professional and dignified manner put across our situation to Minstry.
Its Every Individual choice to either awake and do something or to sleep and forget audits.RegardsPrarthana Jalan
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