Dear Members and Students As you all are aware about the current situation of our Profession and everyone know about the Draft rule of Companies Act, 2013 and understand better than me as well. But, im really sad to see the steps/movements of our members.Everyone emphasis is on KMP, KMP & KMP. Why KMP provisions are not applicable to Private Limited Company, Why paid up capital is Rs. 10 Cr. it has to be Rs. 5 Cr.. Why Secretarial Audit is applicable only to Big companies. Here are some points :- No. of Members of our Inst. = 36000 (approx) No. of operative members = 30000( Less who are carrying some other Business) No. of Students = 4 Lac (Approx) No. of Companies having Paid up Capital more than Rs. 5 Cr. both Pvt & Ltd as on 30.09.2013 = 25000( Approx) We are fighting that KMP limit should be reduced from Company Having Paid up Capital of Rs. 10 Cr. to Rs. 5 Cr. and includes Pvt Ltd Companies as well. POINT :- What will happen with this??????? All the CS will get job???? Out of 30000 members 25000(approx) members will have job under their Belt. DONE, MCA revised draft rule and everyone will be happy from employment prospectus. BUT WHAT WILL HAPPEN IN NEAR FUTURE ???When those 4 Lakh student will become a members of ICSI. In near 2 3 years there will be a 1 Lakh members of ICSI(as per current growth rate) Then we will again start Fighting for the reduction of Capital from Rs. 5 Cr. to Rs. 50 Lakh??????? I cant explain the whole issue in this mail. My purpose is just to think about it. We have to fight for the Annual Return Certification( Compliance Certificate), Secretarial Audit and E form pre certification for every company. Now, everyone will say earlier we enjoyed the courtesy of Compliance Certificate and with that what happend???? For that we were the main culprits. We signed Compliance Certificates on nominal cost. We didnt even bother to check the company records before signing the reports. Today, everyone is saying that CA is better than us. The main reason of success of CAs are they will not sign Balance Sheet without checking the records. Even a Balance sheet of Company having a Paid up Capital of Rs. 1 Lakh they will check the record once. CAs maintain their dignity. They are not dependent on any Law for their Job. As per my knowledge their is not any Law saying that CA appointment is Compulsary where companys financial transaction valued more than Rs. 1 cr. of something like that. We are professional and we have to have confidence on ourself. We shouldnt be depended on the mercy of any Law. So, my points/views are protest but protest for right thing. Protest for Annual Return certification for every company like Statutory Audit of Every company. Pre-certification of Forms and Secretarial Audit and start building our profession. May be im wrong on my views/point. Please correct me wherever im wrong. Im just a beginner and new in a CS profession. Waiting for your kind response. Im ready to discuss my points with the interested member & student
Posted on: Fri, 04 Apr 2014 18:46:30 +0000
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