Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

There seems to be more trouble for <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata Group</keyword> as Institute of <keyword id="22871" type="PERSON" weightage="100" keywordseo="Chartered-Accountants">Chartered Accountants</keyword> of India (ICAI) today said it is looking at alleged accounting irregularities at some <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> group companies in the wake of concerns raised by ousted chairman <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>. ICAI is also examining the accounting issues related to the United Spirits Ltd (USL). "We have asked the Financial Reporting Review Board (FRRB) to look at accounting issues arising out of that and examine whether there are any irregularities," ICAI President Nilesh S Vikamsey said. Vikamsey, who was elected as President on February 12, was responding to a query on whether the institute is looking at alleged irregularities at some Tata group companies. "There are many qualitative issues there, lot of underlying documents and papers which the members would have relied upon that is being examined," he said. Coming under the ICAI Council, FRRB reviews the compliance of entities with various accounting and auditing standards. When asked whether the institute is having a preliminary look at the issues, he replied in the affirmative. "Predominantly I would say in the Cyrus Mistry letter whatever the accounting related matters have been commented upon, that is being looked at," Vikamsey said at a press meet here. 
 After being sacked as chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> in October last year, Mistry had written a letter to the board and regulators, including <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword>, raising various corporate governance issues and alleged irregularities at some group entities. On accounting issues related to United Spirits Ltd (USL), he said that are also being looked into. Last month, the Securities and Exchange Board of India (Sebi) barred <keyword id="14678" type="PERSON" weightage="20" keywordseo="Vijay-Mallya">Vijay Mallya</keyword> and six former officials of USL from securities markets in a case related to illegal fund diversions while probe is on into the role of auditors and change of control at the company. Vikamsey said the institute is coordinating with Sebi on various matters.

Tata Group under scrutiny: Apex body of Chartered Accountants looking at alleged accounting irregularities at Tata companies

You Searched For "cyrus mistry icai" and got 1 results

Tata Group under scrutiny: Apex body of Chartered Accountants looking at alleged accounting irregularities at Tata companies

BI India Bureau

Popular Keywords

Buying Guides