It is time we all unite to stop this rapid slide in our profession’s dignity caused because of an inherent lacuna in our auditing environment caused due to sheer lack of support and protection from our ICAI coupled with the lack of unity amongst members in our fraternity and our resultant struggle for existence. How can we be silent spectators to a situation where dishonesty of all CAs are taken for granted.

Just imagine only one case: how exposed we all are during Bank Audits? The Banks, send the Appointment letter on say- 5th April and they start dictating us. We all are compelled to complete audit of 3 branches in 5-7 days(inclusive of travel days). Let us be frank, is it possible to do justice to our audit? Has anyone protested. I did and the Bank Management said - When other auditors can do so why can’t you? Can we deny that under the present system the points requiring a specific comment on accounts of Corporate Houses maintained at the branch under audit, included in the LFAR may be overlooked or wrongly reported.

Similarly, issues on variance analysis, adverse trends etc. cannot be touched and replied correctly within the time span allowed by the bank.Replies to questionnaires are filled-in by the Branch Manager in many cases etc. because many a times the auditors are technically not competent to reply every point. What is the solution? We are all blaming PwC but it applies to all of us- big and small, more or less.

I remember cases when the Big Few -say “A” and “B” had mutual agreement where periodically the audit was rotated but was still continued to be done by the same firm-”A”, signed and handed over to the other Big Firm-”B”, kept in file as a safety shield by “B”, and the ultimate Audit Report was issued by “B”. In the eye of law there appeared a change in Auditors but actually it was an eyewash.

Let us initiate the cleansing process and the whisper of untruth, falsification and wrong certification of statements by CAs considered just normal by the public at large- for any CA, which is actually deafening us after the Satyam’s scene must be stopped.

I remember a conversation over heard in a train compartment once by me. What is the difference between an Auditor and a Stenographer? The Stenographer takes a dictation but does not sign it BUT an Auditor takes a dictation of what to write in the Auditor Report by the Auditee and himself signs that report. I felt so ashamed then and feel the same after the SATYAM EVENT- where everything is MITHYAM.