Auditor General & the delegation visited Siliguri Branch of Eastern India Regional Council of ICAI
The Hon’ble Auditor General and his delegation visited the Institute of Chartered Accountants of India (ICAI), Siliguri Branch on the invitation of the new Chairman, Eastern India Regional Council (EIRC); Institute of the Chartered Accountants of India for marking the ‘Handing/Taking and Felicitation Ceremony’ of the institute.
The delegation led by the Hon’ble Auditor General attended the function on 26th February. The event provided yet another platform for further strengthening the professional ties between the ICAI and the Royal Audit Authority. The Hon’ble Auditor General in his address to the gathering informed that engaging statutory auditors from Siliguri could potentially benefit both the chartered firms and the Bhutanese companies in terms of cost and time saving besides speeding up the audit process.
Hon’ble Auditor General being the current Chairman of the Accounting and Auditing Standards Board of Bhutan (AASBB) also took the opportunity to advocate and disseminate awareness on the adoption of Bhutanese Accounting Standards (BAS) and the International Standards on Auditing (ISA) as the authoritative accounting and auditing standards of Bhutan respectively. This was particularly aimed at those chartered firms who are not on our panel of auditors but are keen on getting empanelled.
The Hon’ble Auditor General also urged the 200 plus chartered firms from and within Siliguri to take opportunity in getting empanelled with the Royal Audit Authority. It was informed that the empanelment exercise would happen by end of this year for the empanelment period 2015-2018. This would particularly provide choices to the incorporated companies in appointing competent and proficient statutory auditors (for non-DHI portfolio companies and private companies). For government owned and controlled companies (DHI portfolio companies), the Royal Audit Authority appoints the auditors in accordance with Section 255 of the Companies Act of Bhutan 2016.