The apex council of the Institute of Chartered Accountants of India (ICAI) found two chartered accountants guilty for professional misconduct in the Global Trust Bank collapse case and have recommended that their names should be struck off the members roll for differing periods.
The GTB case dates back to 2004 when the bank collapsed amid reckless lending. An investigation was done thereafter by the institutes’ disciplinary committee, which submitted its report in early 2009. The report of the disciplinary committee on the bank’s audit for the financial year 2000-01 was thereafter forwarded for the council to consider.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/GTB-collapse-ICAI-bars-two-members/articleshow/5532661.cms
GTB COLLAPSE: ICAI BARS TWO MEMBERS
Labels: BANKING N FINANCE
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