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  • Jan, 08 2019
  • Representation regarding minimum fee for statutory audit

    Representation regarding minimum fee for the statutory audit to the Director, INCOIS, Ministry of Earth Sciences, Hyderabad dated 08-01-2019 for HIRING SERVICES OF CHARTERED ACCOUNTANT FIRM FOR STATUTORY AUDIT OF INCOIS SOCIETY FOR THE FINANCIAL YEAR 2018-19.

  • Jan, 08 2019
  • Representation to Canara Bank

    Representation dated 8th January, 2019 was submitted to Canara Bankw.r.t. their advertisement regarding empanelment of retiredofficials (Scale II to Scale V) of Canara Bank for assistance in AuditWork.

  • Dec, 28 2018
  • Representation regarding minimum fee for statutory audit

    Representation regarding minimum fee for statutory audit to CEO, Directorate of Technical Education gandhinagar dated 28.12.2018 for  Engagement ofChartered Accountant Firm for Statutory Audit of Gujarat KnowledgeSociety (GKS),Gandhinagar having last date 05.01.2019

  • Dec, 27 2018
  • Representation regarding minimum fee for statutory audit

    Representation regarding minimum fee for statutory audit to Deputy General Manager (F&T) Shipping Corporation Of India Limited, Mumbai, Maharashtra dated 27.12.2018 for :

    statutory auditShipping Corporation Of India Limited, Mumbai, Maharashtra regarding tender no.F&T/2018/001/STATUTORY CERTIFICATION

  • Nov, 02 2018
  • Representation to Increase fee being paid to auditors

    The Committee has been regularly taking up with variousauthorities that the fee being paid for professional services should becommensurate with the time and efforts involved. In this regard,representations have been sent to the following:

    o   Representationdated 2nd November, 2018 was submitted to the Auditor General ofCo-operative Societies, Directorate of Co-operative Audit, Odisha & theCommissioner-cum-Secretary, Co-operation Department, Government of Odisha,Bhubaneswar regarding the revision in the fees of auditors of PAC Auditswherein it was emphasised that the audit fees of the auditors conducting PAC’sAudit is very low and is not at all in commensuration with the scope of work.

    o  A representation was submitted to Canara Bank pointing out the downwardrevision in remuneration being paid to CA Firms for conducting valuation ofcurrent assets. In this regard, arepresentation dated 30th Nov, 2018 was also submitted to IBAwherein it was informed that  there is adownward revision in Audit Fees payable to CA Firms for valuation ofCurrent Assets. The downfall is ranging from 50% to 85% lower thanthe existing scale of fees. Through the said communication, it was alsoinformed that ICAI have been writing to RBI regularly for the enhancement ofStatutory Audit fees and also for making a system for uniform Audit fees forConcurrent Audit in  commensuration withthe scope of work.


  • Oct, 11 2018
  • Submission of report of the High Power Group of ICAI to CVC

    The report of the High Power Group of ICAI tostudy the systemic issues in the PNB matter wassubmitted to Shri K.V. Chowdary, Chief Vigilance Commissioner, CentralVigilance Commission vide our letter dated 11thOctober, 2018 wherein it was also informed that the said report was alsosubmitted to Ministry of Corporate Affairs and such recommendations have alsobeen brought to the notice of RBI at various forums.


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