Kolkata: The high-powered committee set up by the Institute of Chartered Accountants of India (Icai) to look into the multi-crore fraud at erstwhile Satyam Computer will submit its report on 9 July.
“We will submit the report to the ministry of corporate affairs on July 9 after we finalize the report at the final internal meeting by the committee on July 4 at Agra,” said ICAI president U.P. Agarwal.
Agarwal heads the high-powered committee, which has six other members, and it looks into financial reporting, accounting and auditing aspects with regard to the Satyam fiasco, reviews the shortcomings and recommends plugging loopholes against such frauds.
Declining to go into the report aspects, he said, “We want that chartered accountants should be empowered so that they can force the management to change the accounting of a company if they think it is not in best of the practice.”