Tech Jungle

Investors to Feel more Confident and Safe
June 4, 2007, 12:20 pm
Filed under: FINANCE

ICAI in favour of rotating audit firms for efficiency

Delhi : Investors can soon feel more confident that the audit which companies are required to do under the law is less prone to human errors. The regulator of accounting profession now wants audit firms to rotate after every few years the partner within the firm who verifies a client’s books for certification. The core governing team of Institute of Chartered Accountants of India (ICAI), the accounting and auditing regulator, will examine a new auditing standard proposing this in July. This is based on the international auditing standard on quality control. Companies, however, need not rotate the audit firm per se.


Leave a Comment so far
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: