Home Highlights April 2012 Year 2012 This

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1. Criminal breach of trust - statutory auditor - disciplinary proceedings by ICAI pursuant to a complaint filed by the SFIO - violation of accounting standards cannot be...

2. Disciplinary enquiry / proceedings against Resolution Professional (RP) - when the petitioner ceases to be a Resolution Professional, and starts wearing the cap of a...

3. The High Court held that the Institute of Chartered Accountants of India (ICAI) is empowered to take disciplinary action against Chartered Accountant firms for...

4. Statutory Auditors’ Responsibilities in relation to Fraud in a Company - NAFRA issued certain guidelines.

5. Resignation of statutory auditors from listed entities and their material subsidiaries

6. Clandestine removal - shortages suggested by the statutory auditors - A case of clandestine removal can not be considered to be established based only upon the statutory...

7. Levy of IGST - Export of services or not - telecom services - Place of supply - international Inbound Roaming Services (IIR) and International Long Distance (ILD)...

8. Classification of supplies - supply of goods or supply of services? - software licenses supplied by the applicant - the goods which are supplied by the applicant cannot...

9. Disciplinary proceedings against Chartered Accountant (CA) - Initiation of parallel proceedings - the Committee viewed that the appointment of the Respondent was made...

10. Statutory Auditor (Chartered Accountant), Cost Auditor or Secretarial Auditor has to report the fraud in the company in the prescribed manner. - Notification

11. Disciplinary proceedings against the member of ICAI -Complaint as regards the charge under reference, did not survive but the Disciplinary Committee for reasons best...

12. Authority of statutory auditor to function in the company whose relative or partner is holding any security or interest of the company - The auditor directed to...

13. Allegation of Misconduct against the petitioner acting as Commissioner of Income Tax (Appeals) / CIT(A) - officials exercising quasi-judicial functions - exemption from...

14. Prosecution proceedings against the Auditor of the company - The High Court has materially erred in holding that on resignation of auditors – BSR & Deloitte and on...

15. Disciplinary complaint / proceedings against the member of ICAI - it has to be construed that the complaint filed by the petitioner was not enquired into properly and by...