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The ICAI advising on ongoing outbreak of Coronavirus and on dealing with the impact of the same on auditing work. It is issuing an advisory to the auditors that how they can deal with coronavirus pandemic impacts.
The Institute of Chartered Accountants of India (ICAI) has just begun work on the advisory, which would be submitted to the service of the corporate undertaking, as indicated by the ICAI President Atul Kumar Gupta.
According to Mr. Atul Kumar Gupta, president of ICAI, banks will close their accounts on March 31 and normally bank branch audits are to be completed by April 10.
The date for such audits by the auditors has now been set on April 20 due to the wake of the coronavirus epidemic.
"We all need to pause and watch on the effect of the coronavirus," said by the president of ICA- Mr. Atul Kumar Gupta
When asked whether the ICAI would take more time for searching for more opportunities for doing statutory audits of companies in the current situation, he said there is no reason to stress over it since statutory audits are to be finished in 6 months from the end of a financial year.
In excess of 150 people in the nation have been affected by the coronavirus and different divisions have been impacted so far.
19 Mar
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