CA's FACE PEER PRESSURE

As the Securities and Exchange Board of India, and the Institute of Chartered Accountants of India tighten the supervision of auditors, those that fail to obtain a peer review certificate may be barred from auditing listed companies. According to officials of ICAI, which regulates the profession of Chartered Accountancy, the plan is to include all listed companies in this system. In a few years, the scope of the review may be expanded to companies that intend to list, once they file the Draft
Red Herring Prospectus with SEBI.