Government planning to launch KYC Norms exercise to weed out fake Accountants, Company secretaries.
Following to Directors disclosure Norms introduced Govt Plans to launch similar KYC Norms exercise over next three to four months .Restrictions will imposed on professionals who fail to comply with the proposed disclosure norms.
This Development has taken up due to complaints that the ministry has been receiving with regard to the functions of chartered accountants, cost accountants and company secretaries fraudulently carried out by unqualified people.
Fraudulent functions includes use of fake seals, signatures being forged on behalf of members and bogus chartered accountants conducting audits or signing on the books of a company using membership numbers of others
The KYC form contains phone and membership numbers, e-mail and postal addresses. The ministry’s plan is to find ways to make sure to keep out such people carrying out audits and other professional functions fraudulently.