Rather than blaming auditors, the entire regulatory system must be cleaned from top to bottom
‘Preface to Standards on Auditing’ available with the Institute of Chartered Accountants of India (ICAI), says very clearly, “It (auditing) is undertaken to enhance the degree of confidence of intended users in the financial statements.” It also adds, “In conducting an audit, the overall objective of the auditor is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement.”
Now considering the case of Satyam, some may say it was actually the responsibility of the management, but Ved Jain, President, ICAI counters that view, “It is impossible that a fraud of such magnitude would have escaped the auditor’s eyes.” This definitely raises a question mark on the prudence, competence and honesty of auditors operating in India.
Read more....
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
‘Preface to Standards on Auditing’ available with the Institute of Chartered Accountants of India (ICAI), says very clearly, “It (auditing) is undertaken to enhance the degree of confidence of intended users in the financial statements.” It also adds, “In conducting an audit, the overall objective of the auditor is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement.”
Now considering the case of Satyam, some may say it was actually the responsibility of the management, but Ved Jain, President, ICAI counters that view, “It is impossible that a fraud of such magnitude would have escaped the auditor’s eyes.” This definitely raises a question mark on the prudence, competence and honesty of auditors operating in India.
Read more....
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
