The Ranchi Chapter of Institute of Chartered Accountants of India (ICAI) has suggested all its members and stakeholders to strictly follow the norm of apex body which has barred its member CAs from taking part in any financial bidding exclusively for them. President of Ranchi chapter of ICAI Manish Jain said on Thursday that the move is directed to stop the deteriorating quality of chartered accountancy in the country. Though, Jain said that the door in case of technical bidding would remain opened for Chartered Accountants as usual.
Jain said that many of the State Government departments were still functioning on their own old way of tendering auditing and accounting works. It was not only deteriorating quality of work, but was also against the guidelines of the Institute. “Technical bidding has not been barred, as it has no quality concerns because every other is not going to bid in it,” Jain added.
“Banks and a number of other organisations have a fair mechanism for CAs, where they have fixed rates for quantity of works. This has helped them a lot in terms of keeping poor quality accounting and auditing out of the system, which ultimately keeps providing them the actual picture of the balance sheet,” said Jain.
He added that the poor accounting and auditing could easily become a matter of past once Government started fixing price of services rather than tendering for accounting and auditing, which demands extreme expertise.
ICAI also praised the move from Central Government that allows undeclared income holders or those who don’t pay taxes despite falling into a taxable income bracket to turn their money white by paying a certain tax on it. Jain requested all to get benefit of this scheme, which will help them itself in return.
CPI Committee President of ICAI Ranchi chapter CA Manisha Biyani said, “We are organising an event to spread awareness about this in association with Federation of Jharkhand Chamber of Commerce and Industries (FJCCI). We will also organise a two day national event on 23-24 July in Ranchi itself. Minutes of this event will be prepared soon.”
ICAI is also organising a number of events on its 67th birthday on Thursday. The events include blood donation camp at ICAI Office in Ranchi, a Go Green Rally and Water Harvesting Rally from Albert Ekka Chowk to Office and a cleanliness drive also. “We will also distribute cloths to poor and study materials to children of Ambatoli in city. After that we will go for plantation drive,” said Biyani.