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13 November, 2011

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Centralised Allotment of Tax Audit, Concurrent Bank Audit and Statutory Bank Audit - Your Say Matters !!

Article Cum Appeal is Authored by Awakened CA's Group
the Author can be contacted at
Are you in favour of Centralised Allotment of Tax Audit, Concurrent Bank Audit and Statutory Bank Audit (Please note that power has been withdrawn from RBI. Now the banks appoint their own Auditors, which is a matter of concern) ?
If yes, then please visit , Click on Discussion Forum (Audit Section) . Register yourself (right hand upper corner) by creating your own Username & Password. Then Login by using same username & password. Click on Topic "Centralised Allotment of Tax Audit ..............." and Vote as YES , I FULLY AGREE by Clicking on the round button. In case of any difficulty in voting, you may contact Helpline No. 09855209344.



Dear Professional Colleagues,

ICAI has confirmed through the RTI reply that the issue of "CENTRALISED ALLOTMENT of TAX AUDITS" was discussed in the CC meetings held in the month of DECEMEBER, 2001. The issue was voted against by the CC members on the plea that there was no complaint against the present system and members were doing audits independently.

However, the facts revealed by the members during the last 2 months in the yahoo group discussion after " A WAKE UP CALL" show altogether a different picture. Perhaps CC members are unaware of the facts that Tax Audit Report is available for Rs.500/- each. Also it is not easy to digest that if there was no complaint against the present system and members were feeling independent while auditing, then what was the need to discuss this issue in CC meeting. What made (rather compelled) our then respected CC members to take this issue on the agenda?

Hard to digest, really !!



Time has now come to take up this issue, again ,before the CC. But this time with full force and strength. For bringing all the CAs on single platform a Yahoo group named---"Awakened CAs Group" has been formed.

You all are invited to join us.

Join us in YAHOO GROUP, named---- Awakened CAs' Group

For joining the group , please visit group site in yahoo groups or send a BLANK Email
at Awakenedcas-subscribe@  and follow the next instructions to join.( to be sent by Yahoo Customer Care ! )

Provide your NAME, ADDRESS, M. NO:, EMAIL, MOBILE NO: in the relevent box for approval of the requests to join.

Benefits of Implementing the above Proposal :-
1. There will be equal distribution of work.

2. The quality of Audit will be ensured.

3. Even the juniors/freshers will be getting their due share in the professional work.

4. Other Practitioners in the I. Tax practice will not be able to make a joke of our profession.

5. Every CA will be getting Minimum standard rather handsome fee.

6. No dependency on the client for fee or next year appointment.

7. Independence , Integrity and Excellence will be ensured. Till today it is only on the walls.

8. We will get a chance to work HONESTLY.

9. Juniors/ freshers will not have to do MERCY audits.

10. It will be in the best interest of our profession as a whole, especially for the future generations.

11. The audit reports will be worth reading and implementing.

12. Last minute rush of clients, resulting in total compromise of integrity and excellence, can be avoided. As we will be able to dictate our own time bound schedule of audit work.

13. We will be able to get and maintain all the working papers which are needed to be shown when we are called upon to do so.

14. The above proposals can be implemented in any type of audit may even be Company Audits through MCA

Minimum earning of every CA will rise to 12-15 Lacs (Non- Metro Rates). In Metro Cities it will be much more.
Calculation is as follows:

Tax & Vat Audit.....Rs. 9.0Lacs {45 *20000/-(12500+7500)}

Stat. Bank Audit... Rs. 1.5 Lacs { Appx.}
Concurrent Audit...Rs. 1.0 Lacs {Appx.}
Income Tax Work..Rs. 1.5 Lacs { Appx.}
CO.Audit .............Rs. 1.5 Lacs { Appx.}
Misc. work.............Rs. 0.5Lacs { Appx.}
TOTAL RS.............Rs. 15.0 Lacs



Are we Independent ?

Are we not compromising our own Integrity ?

Are we putting in our Excellence with which we have been bestowed upon by the GOD ?

Are we not being made a part , in creating Black money in the country ?

Are we not being made victims for the faults done by the Business community, remember Satyam Episode?

If we take up the matter unitedly , this will definitely be implemented. This is not only in the best interest of our own profession's survival but the country as a whole.

Please Vote at and join us in " Awakened CAs' Group".

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