Amid rising complaints of global audito "circumventing" rules to operate in the country, th government on September 30, 2016 set a three-memb panel to find out ways to help local firms deal with possib adverse impact of their operations besides suggesting wad to nurture Indian firms emerge as global giants.
The ministry of corporate affairs (MCA) set up a pan, headed by former finance secretary Ashok Chawla wi' Jubilant Life Sciences co-chairman &t MD Hari S Bhartia ar RBI deputy governor N S Vishwanathan as members. Th review comes at a time when the commerce department looking to strengthen India's services prowess in secto beyond IT and has identified audit, architecture and leg services as areas where the government could look opening up.
The setting up of the committee folloi representations by Indian firms, which had petitioned tl Prime Minister's Office to step in. The domestic playe had alleged that global giants were structuring the operations in a way that helped them circumvent rule Separately, auditor rotation was drafted in a way that benefited international players.
The ministry of corporate affairs (MCA) set up a pan, headed by former finance secretary Ashok Chawla wi' Jubilant Life Sciences co-chairman &t MD Hari S Bhartia ar RBI deputy governor N S Vishwanathan as members. Th review comes at a time when the commerce department looking to strengthen India's services prowess in secto beyond IT and has identified audit, architecture and leg services as areas where the government could look opening up.
The setting up of the committee folloi representations by Indian firms, which had petitioned tl Prime Minister's Office to step in. The domestic playe had alleged that global giants were structuring the operations in a way that helped them circumvent rule Separately, auditor rotation was drafted in a way that benefited international players.
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