MCA has decided to scrutinise the account books of all registered companies
In a bid to avoid accounting frauds of the type that hit Satyam Computers, now called Mahindra Satyam, in January this year, the Ministry of Corporate Affairs (MCA) has decided to scrutinise the account books of all registered companies — listed as well as unlisted — in the country.
The mammoth exercise will be outsourced to chartered accountants, companies and cost and work accountants.A pilot project will shortly be launched — circulars have been sent to all offices of the Registrar of Companies — and expanded on the basis of the results
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