ICAI to serve show cause notice to Satyam auditors

MANGALORE: The Institute of Chartered Accountants of India (ICAI) has decided to serve show cause notice to the auditors of the tainted Satyam Computers, ICAI central council member K Raju saidon Monday.

ICAI had appointed a six-member high power committee to look into the Satyam fiasco and submit a report soon, he said, while addressing the 'investors awareness programme', organised by the Mangalore chapter of ICAI in association with Kanara Chamber of Commerce and Industry (KCCI) here.

The Indian Financial Reporting Standards (IFRS) would be made mandatory for all large scale companies by 2011 April, Raju said.

On the huge demand for accounting professionals, he said ICAI would start six certificate courses on specialised sectors for the ICAI members.