CAG becomes member of UN Audit panel
PrintListen to this Article
The Comptroller and Auditor General of India Shashi Kant Sharma has been elected to the coveted United Nations Board of Auditors for a six-year term. India defeated the Philippines with a convincing margin in the election to the panel. India got the support of China and Pakistan in the elections.
A statement from the CAG’s office said out of the 186 votes cast, India got 124 votes and the Philippines got 62.
India will replace China beginning July 1, 2014. The CAG of India will now get access for audit of the UN organisations, including the UN Headquarters. “He, along with other two members of the board will also be responsible for audit of UN bodies like UN Peacekeeping Operations, UN Development Programme, UNICEF, UN High Commissioner for Refugees, UN Environment Programme, UN Human Settlements Programme, UN Women and UN Framework Convention on Climate Change,” the release said.
It added that Sharma took keen interest for the post and canvassed the Ambassadors and High Commissioners and briefed them about the Indian Auditors. India was earlier in the Board for six years from 1993.
The United Nations Board of Auditors audits the accounts of the United Nations organisation and its funds and reports its findings and recommendations to the UN General Assembly through the Advisory Committee on Administrative and Budgetary Questions. The Board of Auditors is completely independent and is solely responsible for the conduct of the audit.
The General Assembly appoints three members to the Board of Auditors. The members of the Board have joint responsibility for the audits. The present members of the Board of Auditors are from Britain, Tanzania and China. (The Hindu)
Category : International Business | Comments : 0 | Hits : 363
Chartered accountants from the UK and Canada might be allowed to practice in India on a reciprocal basis, with the apex body ICAI making the proposal to the Government. ICAI President Ranjeet Kumar Agarwal, on February 21, said the proposal will be implemented strictly on the reciprocal basis that chartered accountants (CAs) from India will also be allowed to practice in the United Kingdom and Canada. It will be the first time that overseas CAs will be allowed to practice in India. The pro...
The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred in foreign currency for the purpose of TCS levy, sources said. The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism for distinguishing whether the expense is towards medical/education which attract a 5 per cent TCS or for other purposes on which a 20 per cent...
Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Credit cards upto Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS. Existing beneficial TCS treatment for education and health payments will also co...
The ministry on May 16 notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023, to include international credit card payments in the LRS. Any remittance beyond USD 2.5 lakh or its equivalent in foreign currency would require approval from the RBI. Earlier, the usage of international credit cards (ICCs) for making payments for fulfilling expenses during travel outside India was not included in the LRS limit. According to the notification, the Finance ...
Canada’s immigration minister Sean Fraser has announced Express Entry invitations to FSWP and CEC candidates will resume by “early July 2022” The vast majority of new Express Entry applications will be processed within the six-month service standard. According to IRCC, current Express Entry processing times range from seven months to in excess of 20 months. Summary of Canada's Immigration Levels Plan Each year, the federal department of Immigration, Refugees ...
Comments