Chandra panel paper on auditors' role next week

NEW DELHI: The Naresh Chandra Committee is expected to submit its consultation paper on role of auditors and the tasks they should perform next week, department of company affairs secretary Vinod Dhall said on Friday.
Speaking at Ficci’s annual general meeting, Mr Dhall said the report which would go to examine the auditor-company relationship, role of independent directors, disciplinary mechanism over auditors in the light of irregularities committed by companies in India and abroad was almost finalised.
The consultation paper would be posted on the DCA website to invite suggestions and recommendation of the industry and the audit profession, the DCA secretary added.
He said that self regulation needs to be tempered with intervention of the outsiders. Mr Dhall was of the opinion that setting up of benches in various cities as proposed by the ICAI was not the solution to improve regulation of the profession. The DCA secretary also felt that there was no need to seek high court intervention to deal with offences committed by CAs.