Blair & Associates, a full-service certified public accounting firm, announced that Michael Blair, certified public accountant, has been recognized by the Maryland Society of Accountants for his service to the community and the accounting profession as a whole.
Blair, of Blair & Associates, was honored June 25 at the MSA's 52nd Annual Convention in Williamsburg, Va.
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| Q&A: G Ramaswamy, President, ICAI |
| 'We are working on procedures for audit of cooperatives' |
| Joe C Mathew / �July 12, 2011, 0:23 IST |
What are the current priorities before ICAI on standards for accounting?
We are giving a lot of focus on framing accounting standards and audit guidelines for the cooperative sector. This sector is very important and there is need for better governance and transparency here. Except Maharashtra and Gujarat, no other (state) government is taking strong steps in bringing corporate governance and transparency in the financial statements of cooperative firms. So, we want to lay down certain principles and procedures for our members who audit as well as prepare financial statements for cooperatives. We are meeting all state ministers and requesting them to improve cooperative (sector) audits in their states.
Rahman Khan, deputy chairman of the Rajya Sabha, had recently suggested ICAI prepare some standards to assess presumptive losses/gains for a standard assessment. Is it practical?
We have received this suggestion from him. We need to see if there are any practices followed internationally. We have to discuss it with him to understand what his expectation is.
Which industry-specific standards are you working on?
We are preparing a guidance document for audit in rate-regulated sectors such as power, fertiliser, oil and gas, etc. These are areas where the rates are regulated by authorities. The guidance note will tell our members how to recognise the revenues and prepare the reports for these sectors.
The government has allows chartered accountants to form Limited Liability Partnership (LLP) firms. How will it impact the profession?
LLP is an important tool for growth. But we had several apprehensions when the government clarified we can set up LLPs. We wanted to know if LLPs could be statutory auditors, because under current law, body corporates cannot be appointed statutory auditors. The government then clarified that our LLPs formed for this specific purpose will not be treated as body corporate, which means the LLP form of chartered accountant firms can carry out attesting functions or statutory audits. They can be appointed as tax auditors or statutory auditors. It also gives young chartered accountants lot of opportunity to join together and form big audit firms.
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New Delhi, July 9 (IANS) The Central Bureau of Investigation (CBI) arrested an income tax commissioner, his aide and a chartered accountant in Mumbai in a graft case, an official said Saturday.
?Income Tax Commissioner (Appeal) R.P. Meena and chartered accountant U.P. Pai were arrested Friday from Mumbai following a complaint,? said the official.
A tax assessee filed the complaint against Meena with the CBI.
The complainant said that he was being harassed by the commissioner who was not clearing his file. He directed the complainant to pay him money through Pai. On failure to do so, Meena threatened to impose a heavy penalty on them.
?The complainant told us that the commissioner made it clear to him that the closure report would not be given till illegal gratification is paid,? said the official.
Pai on behalf of Meena asked the complainant to give Rs.2.2 lakh as bribe Friday at a restaurant near the Chhatrapati Shivaji Terminus.
?We laid a trap and arrested Pai,? said the official.
During interrogation, Pai told the CBI that he took the bribe to pass it on to an aide of Meena. ?We arrested the aide and then Meena from his residence,? said the official. The CBI also conducted searches at the residences and offices of the accused men.
Tags: bribe, cbi, central bureau of investigation, chartered accountant, chhatrapati shivaji terminus, closure report, complainant, failure, graft case, gratification, income tax, interrogation, lakh, meena, money, New Delhi, pai, tax commissioner
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| Q&A: G Ramaswamy, President, ICAI |
| 'We are working on procedures for audit of cooperatives' |
| Joe C Mathew / �July 12, 2011, 0:23 IST |
What are the current priorities before ICAI on standards for accounting?
We are giving a lot of focus on framing accounting standards and audit guidelines for the cooperative sector. This sector is very important and there is need for better governance and transparency here. Except Maharashtra and Gujarat, no other (state) government is taking strong steps in bringing corporate governance and transparency in the financial statements of cooperative firms. So, we want to lay down certain principles and procedures for our members who audit as well as prepare financial statements for cooperatives. We are meeting all state ministers and requesting them to improve cooperative (sector) audits in their states.
Rahman Khan, deputy chairman of the Rajya Sabha, had recently suggested ICAI prepare some standards to assess presumptive losses/gains for a standard assessment. Is it practical?
We have received this suggestion from him. We need to see if there are any practices followed internationally. We have to discuss it with him to understand what his expectation is.
Which industry-specific standards are you working on?
We are preparing a guidance document for audit in rate-regulated sectors such as power, fertiliser, oil and gas, etc. These are areas where the rates are regulated by authorities. The guidance note will tell our members how to recognise the revenues and prepare the reports for these sectors.
The government has allows chartered accountants to form Limited Liability Partnership (LLP) firms. How will it impact the profession?
LLP is an important tool for growth. But we had several apprehensions when the government clarified we can set up LLPs. We wanted to know if LLPs could be statutory auditors, because under current law, body corporates cannot be appointed statutory auditors. The government then clarified that our LLPs formed for this specific purpose will not be treated as body corporate, which means the LLP form of chartered accountant firms can carry out attesting functions or statutory audits. They can be appointed as tax auditors or statutory auditors. It also gives young chartered accountants lot of opportunity to join together and form big audit firms.
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Idaho Gov. C.L. (Butch) Otter has appointed Emmett accountant Rich Jackson to a six-year term on the Idaho State Tax Commission.
Jackson, 67, has a long history of public service. He previously served as chairman of the Idaho Legislative Compensation Committee, which makes recommendations on pay and benefits for state lawmakers, as well as treasurer of the Idaho House of Representatives Republican Caucus and was a former chairman of the Gem County Republican Central Committee.
To ensure transparency and prevent the appearance of any conflict of interest, Jackson said he will step down from the withdraw from his accounting partnership and will recuse himself from any Tax Commission issues involving former clients, his partner or his employees.
The other appointees to the four-member commission include former Republican Senate President Pro Tem Bob Geddes and Democrats Tom Katsilometes and David Langhorst.
Jackson will fill the vacancy created when Otter appointed then-Commissioner Severina Haws to the Idaho Commission on Aging.
Source: http://lmtribune.com/blogs/political_theater/article_b9010eba-a982-11e0-aead-001a4bcf6878.html
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10:31am Monday 4th July 2011
An elderly accountant was removed from a professional membership body for breaching an anti-social behaviour order (ASBO).
Roger Gloucester-Trotman, 73, was fined �1000 and excluded from membership of the Institute of Chartered Accountants in England and Wales (ICAEW) after a disciplinary hearing.
The action was taken after he was convicted on September 4 2009 at Croydon Crown court of breaching an ASBO stopping him harassing Jo-Anne Davies, a woman who lived in Cowper Avenue, Carshalton, close to his office in Westmead Road.
A formal complaint was referred to the ICAEW's standards board.
He was found to have committed an act or default likely to bring discredit on himself, the Institute or the profession of accountancy.
The board took into account his disciplinary record, including being reprimanded and fined in December 2001 for making threats and questioning he competence of another advisor, and being severely disciplined and fined �2000 in July 2008 for breaching ASBOs on three occasions.
Mr Trotman appeared at Croydon Magistrates' Court last month accused of further breaching his restraining order and anti-social behaviour order preventing him harassing Mrs Davies.
Mr Trotman's son, a property developer, killed himself in Cowper Avenue in May 2010 after gassing himself in a manhole while embroiled in a legal dispute with his former partner.
Ian Trotman, 41, sealed himself inside the drain near his workshop. He was found inside with an angle-grinder, a petrol can and towels.
Read these London News stories
Source: http://www.thisislocallondon.co.uk/news/londonnews/9119830.Accountant_struck_off_for_breaching_ASBO/
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Finance Project Accountant - Banking - financial modelling - data management
A leading Retail Bank based in London is seeking a Finance Project Accountant to work on a complex project, which offers the opportunity to work with senior level professionals in a highly respected organisation.
You will report to the Head of Finance Integration Reporting and Analysis within the central Integration Reporting Finance Team.
Key responsibilities will include:
To be considered for this role you must be able to demonstrate the following skills within financial services (ideally retail banking):
Ideally you will have a project accounting background supporting a project management office including business case evaluation; extensive financial modelling, data manipulation within excel including pivot tables and use of SAP and Oracle Financial Analyzer, the project reporting tool.
To be considered for this role, please submit your CV in application.
We will contact you within 72 hours if your skills are relevant to our client's requirement.
EA Consulting Group is acting as an Employment Business for this role under the CEAEBR 2003.
| Location: | Greater London |
| Salary: | |
| Start Date: | |
| Duration: | 12 months |
| End Date: | |
| Job Ref: | JS BFJ5762 |
| Name: | Ben Field-Johnson |
| Tel: | |
| Fax: | |
| Posted: | 12-07-2011 |
24housing magazine
For more details on this issue or how to receive your copy visit our Magazine section.
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