How Govt’s new law on Chartered Accountants prevent frauds like Satyam OR ILFS?
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In the budget session of 2022, the Govt. passed the “The Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021“.
Lets understand the highlights of the Bill and how that will help prevent large corporate frauds?
All the CAs need to be registered with the “Institute of Chartered Accountants of India (ICAI)”.
Following are the highlights of the Bill and how the amendment will curb corruption.
Hence, with the above changes in law, we can expect corruption frauds (whether in corporates or in Govt or in Municipal Corporations) go down.
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