Keep vigil on CAs

Apropos the editorial, “Watchdog for accountants” (July 26), despite the multiplicity of checks and controls, banking trade and commerce are not free from fraud. Tax evaders are finding new ways to avoid paying taxes. Shell companies are playing an active role in this. 

Accounting frauds cannot take place without the connivance of accountants. Consequently, it leads to significant erosion in the wealth of investors. 

Banks are taking account of non-performing assets and periodic checking and auditing are being done to ensure that the quality of the assets have been determined according to the guidelines of the government and the banking