CA NeWs Beta*: Auditor March issue: CCM Santhanakrishnan admits to "degeneration" in ICAI functioning, lashes out for being deliberately sidelined

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Monday, April 8, 2013

Auditor March issue: CCM Santhanakrishnan admits to "degeneration" in ICAI functioning, lashes out for being deliberately sidelined

the highlight of this edition is surely the interview of Central Council member - Santhanakrishnan (SK). SK has been as blunt in the interview as he is known to be in Council. Some key takeaways from SK's interview:


- Deliberately not given committees like Executive, Examination, DC etc.

- Experienced members should be part of Standing Committees...

- Perceptible de-generation in standards in many areas in functioning of ICAI.

-- Distinction of big & small firms wont help the profession.. one should recognize the presence of big MNC firms and accept them. 

-  ICAI should develop good infrastructure and technical support for SME firms. 

-  Biggest challenge facing the profession is the perception about profession... we need to have a re-look at the quality...

- Like CSR, we should have Professional Social Responsibility.

-  Not informing Council and Executive Committee about Nagpur deal was a big mistake ( on part of Jaydeep Shah ) .. but those were procedural irregularities, not financial. Sensationalising Nagpur issue did not help...it created a credibility issue.

-  NFRA will not be as bad as it is perceived. 

-  10 to 15 ordinary members should be invited to every Council meeting as Observers. 

- There should be a full time CEO at ICAI... President should not be dealing with clerical activities.

-  Methodology of VP election is nonsensical. 

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