The Hindu Business Line : First meeting of quality review board for CAs on Oct 5

The first-ever meeting of the Government constituted quality review board (QRB) for chartered accountants would take place here on October 5. The meeting would map out the future course of action for the QRB, sources familiar with the situation said.

The QRB was set up by the Centre in June this year to review the quality of services, including audit services rendered by the members of the Institute of Chartered Accountants of India (ICAI).

The institute has over 1.35 lakh members, with about 70 per cent of them in practice. The QRB has 10 members and a Chairman, Mr K.N. Memani. While five members have been nominated by the Centre, the remaining five members have been nominated by ICAI Council. The Government-appointed members include officials from the Reserve Bank of India and the Ministry of Corporate Affairs.

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