Monday, August 11, 2008

CA's help sought by the CBI

The CBI has written to the Institute of Chartered Accountants of India (ICAI) seeking help to probe the growing number of financial crimes.
"The CBI has already written to ICAI to provide expertise as and when required," says the new CBI Director Ashwani Kumar.
Kumar says the CBI has been giving special attention to economic offences ever since the outbreak of the 1992 Harshad Mehta scam.
"We separated economic offences wing from general offences wing in 1992 and now we have full fledged five economic offences' wing functioning within the organization."

Not equipped
The agency was not well equipped to probe financial crimes when the "stupendous task" of securities scam was handed over to it. "Today, we have such good officers in the CBI who can take up any case of bank fraud."
Now the agency is looking forward to have some chartered accountants who will coordinate with agency officials to probe the entire ramifications of economic offences.