"A core group was formed by the body as part of efforts to address the problem of black money and benami transactions. This group will submit its report to the government soon," ICAI President Jayadeep N Shah, who was here in connection with 40th anniversary of the local chapter of ICAI, said at a press meet here today.
As the premier body of Indian accounting professionals, ICAI is committed to bring in transparency not only in business sector but also in the political arena, he said.
It was with this view that it drew up a guidance note at the request from the Election Commission recently on uniform accounting and auditing framework for political parties.
The ICAI had also offered its assistance to capital market regulator Securities and Exchange Board of India (SEBI) to monitor market intermediaries like share brokers, merchant bankers, depositories, clearing corporations and mutual funds.
It had also expressed willingness to help the forensic cell of SEBI to verify company disclosures in IPO offer documents and investigate cases involving financial irregularities. PTI NM VS
