Auditor cum Accountant - Role Conflict prohibited by ICAI

ICAI Announcement for members on prohibition to undertake the assignment of audit and accounting work together for the same entity

It has come to the knowledge of some members that certain entities , while inviting tenders for services of chartered accountants for the assignment of statutory audit , are mentioning accounting and book keeping related works in the scope of works required to done by the auditor. 

Members are hereby advised not to undertake such assignment since it is violative of the provisions of 'Code of Ethics' and 'Guidance Note on Independence of Auditors' for auditor of an entity to do book keeping work of the entity. The said prohibition in the case of Companies is further also mentioned in Section 144 of the Companies Act, 2013. 

Ref. No. ICAI/ESB/2014/03 dt. 20-05-2014

PAN Card indicating Mother's Name

Mother's Name on PAN Card

Form 49A and Form 49AA have been revised vide CBDT Notification dt. May 16, 2014, to allow applicants to opt for having mother's name printed on PANCARD, under the Income –tax (5th Amendment) Rules, 2014. 

Now either parent's name may be chosen instead of only father's name. This form is not yet applicable and we need to wait for publication of this Notification in the official gazette.