Committee to review disciplinary rules for accounting professionals

Panel to suggest ways for speedy disposal of misconduct cases

by Janhavi Behere

The ministry of corporate affairs has constituted a committee to review disciplinary rules & regulations that govern chartered accountants, company secretaries and cost accountants. The committee has been entrusted the task of suggesting amendments for speedy disposal of disciplinary cases. It is likely that the committee will set a time limit to conclude disciplinary proceedings and end the two-stage method of issuing orders. The committee will also be responsible for proposing ways to strengthen existing mechanisms of professional institutions, create more than one director and consider the role of government nominees in the appointment process. The six member committee has to submit its report within 60 days to the ministry.

References
1. http://economictimes.indiatimes.com/news/industry/services/consultancy-/-audit/panel-to-review-misconduct-rules-for-accounting-professionals/articleshow/58287311.cms
CMIE STATISTICS
Unemployment Rate
Per cent
4.0 +0.0
Consumer Sentiments Index
Base September-December 2015
99.3 +0.2
Consumer Expectations Index
Base September-December 2015
101.5 0.0
Current Economic Conditions Index
Base September-December 2015
96.0 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 16 Sep 16 Dec 16 Mar 17
New projects 1.45 2.35 1.42 2.80
Completed projects 0.90 2.19 0.87 1.38
Stalled projects 1.40 0.64 1.01 0.32
Revived projects 0.43 0.51 0.17 0.62
Implementation stalled projects 0.50 0.57 0.80 0.26
Updated on: 26 Apr 2017 12:20PM
Quarterly Financials of Listed Companies
(% change) Mar 16 Jun 16 Sep 16 Dec 16
All listed Companies
 Income -0.1 -0.9 2.1 6.4
 Expenses 0.9 -0.3 1.9 6.7
 Net profit -29.1 -4.1 14.7 36.5
 PAT margin (%) 4.9 6.9 6.9 6.0
 Count of Cos. 4,516 4,487 4,471 4,433
Non-financial Companies
 Income -2.1 -2.5 0.6 6.1
 Expenses -3.9 -2.9 -0.2 7.6
 Net profit 5.0 9.6 26.8 20.6
 PAT margin (%) 6.2 7.4 6.9 6.1
 Net fixed assets 4.0 -9.2
 Current assets 3.2 8.1
 Current liabilities 10.7 11.6
 Borrowings 6.9 3.1
 Reserves & surplus 7.8 8.4
 Count of Cos. 3,518 3,497 3,482 3,459
Numbers are net of P&E
Updated on: 26 Apr 2017 12:29PM
Annual Financials of All Companies
(% change) FY13 FY14 FY15 FY16
All Companies
 Income 12.0 9.6 4.9 0.8
 Expenses 12.2 9.5 4.9 1.0
 Net profit 1.2 -3.7 2.2 -13.7
 PAT margin (%) 3.6 3.2 3.2 3.1
 Assets 14.1 12.3 9.1 8.2
 Net worth 9.5 9.6 8.5 7.2
 RONW (%) 6.8 6.0 6.0 5.4
 Count of Cos. 23,921 21,271 20,226 16,111
Non-financial Companies
 Income 11.3 9.3 4.0 -0.3
 Expenses 11.6 8.9 4.1 -1.0
 Net profit -8.5 -5.0 -4.1 11.3
 PAT margin (%) 2.4 2.1 2.1 2.8
 Net fixed assets 12.8 11.5 12.9 12.4
 Net worth 7.7 8.5 7.0 6.5
 RONW (%) 5.5 4.8 4.8 5.7
 Debt / Equity (times) 1.1 1.1 1.1 1.0
 Interest cover (times) 2.1 1.9 1.9 2.1
 Net working capital cycle (days) 72 69 68 68
 Count of Cos. 18,454 16,748 15,978 13,008
Numbers are net of P&E
Updated on: 21 Apr 2017 9:39AM

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