The Institute of Chartered Accountants of India (ICAI) will set up a dedicated group to fast-track nearly 10 cases involving public interest, including alleged accounting and auditing discrepancies at IndusInd Bank and Gensol. ICAI President Prasanna Kumar D confirmed that decisions are expected within two months, reinforcing accountability and transparency.
The Institute of Chartered Accountants of India (ICAI) has announced the creation of a special group to expedite cases linked to public interest, particularly those involving accounting and auditing irregularities. ICAI President Prasanna Kumar D, who assumed office on February 12, stated that the group aims to deliver decisions on at least 10 pending cases within the next two months.
The initiative comes amid heightened scrutiny of corporate governance and financial reporting standards in India. Cases under review include those related to IndusInd Bank and Gensol, where discrepancies have been flagged. By accelerating proceedings, ICAI seeks to strengthen trust in the profession and ensure timely accountability in matters impacting investors and the public.
Key Highlights
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New Group Formation: ICAI to expedite public interest cases.
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Timeline: Decisions expected within two months.
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Cases Under Review: Includes IndusInd Bank and Gensol.
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Leadership: Announced by ICAI President Prasanna Kumar D.
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Objective: Enhance transparency, accountability, and investor confidence.
Sources: PTI via NewsDrum, Rediff Moneynews