ICAI

Group for looking into the appointments reappointments of statutory internal auditors of various units of ICAI for the year 2016-17

ICAI has formed a group for looking into the matter of appointments/reappointments of statutory/internal auditors of various units/branches of ICAI for the year 2016-17.

Till now there does not seems to be any guidelines for appointment of auditors of ICAI decentralised offices including branches.

With increased cashflow at branches and widespread allegations of corruptions against those managing affairs of the branch, this was a needed steps.

If proper guidelines are formed in this regard, it would certainly put an end to all controversies and ensure the independence of auditors of ICAI units.

The announcement made by ICAI in this regard is as under:

No.M-626/2016 8th August, 2016

ALL MEMBERS OF THE COUNCIL

Madam/Dear Sir,

The Management Committee, at its 12th (Adjourned) meeting held on 7th August, 2016, while considering Item No.27, ‘Appointment/Reappointment of Statutory Auditors/Internal Auditors of various units of ICAI for the year 2016-17 and fixation of their remuneration’ has constituted a Group for

(i) looking into the appointments/reappointments of statutory/internal auditors of various units of ICAI for the year 2016-17 suggested by the Audit Committee; and

(ii) suggesting the criteria to be followed for such appointments in future to the Management Committee. The Group comprises of the following members:-

CA. Prafulla P. Chhajed, Convenor
CA. M.P. Vijay Kumar
CA. Sripriya Kumar
CA. Prakash Sharma

CA. Sonali Das Halder, Deputy Secretary will act as Secretary to the said group.

Yours faithfully,

( V. Sagar )
Secretary

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