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SEBI : CAs have to Forfeit Fee and Pay Interest

The role of Auditors has come under the scanner in a number of high-profile cases recently involving ICICI Bank, PNB, WhatsApp and Fortis as also the Satyam and Kingfisher frauds earlier.

Sebi is set to introduce rules which will put the responsibility on Chartered Accountants, to get companies comply with Regulations.

For any Defaults, CAs have to forfeit their Fee, and may also pay Interest at 12% for the fee collected.

Even Company Secretaries are going to be covered under these norms.

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