Financial Daily from THE HINDU group of publications
Friday, Apr 19, 2002
Financial Daily from THE HINDU group of publications Friday, Apr 19, 2002 |
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Corporate
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Auditing ICAI auditing panel to draft guidance notes Our Bureau
KOLKATA, April 18 THE Institute of Chartered Accountants of India (ICAI) has mandated its auditing practices committee to work out industry-specific guidance notes for audit of accounts of various industries. For starters, six industries have been selected -- power, telecommunications, software, forestry, hotels and tourism, mining and extraction. The committee has proposed to set up study groups, comprising members with expertise on accounting for these sectors, to process the drafts of the guidance notes. These will be reviewed by the committee later. The institute has also sought to rope in other members interested in providing research inputs, according to Mr Abhijit Bandopadhyay, member of ICAI's central council. The idea, he added, is to add value to the existing auditing practices for the industries chosen by the institute. The move has been made public by ICAI's regional councils; the eastern India outfit, for instance, has recently informed members about it.
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