"Dude, you are completely under a false impression. Listen to some facts....... 1) ICAI is established by an Act of Parliament and so if it receives any funds from Government, it needs to be accounted for and also to be audited by CAG - A Government Accounting Body. 2) A person can become a President only once during his lifetime and that too for 1 year. Most of those heads are not from BIG4's. 3) BIG4's cannot function as audit offices to conduct audits and ICAI released a report regarding the same after Satyam Scam and the report is in the front page of ICAI website. Anytime orders can be passed against their right to function and ICAI also sent showcause notices. 4) Whether ICAI regulates pass result or not.....no one knows. But the fact remains the same. If there is an excess supply of chartered accountants in the country, their standards of functioning independently will fall. Simple enough to say, most of the CA's attest net worth reports and they know the risk and then only    "

commented above  by  the viewer of this blog 

i hereby clarifying one thing that some one wrote this on web i am not the creator of this content i just posted.  

the  thing is  now days even 10+2 guys can understand  that what is corruption and what is genuine because they are facing the corruption situations right from obtaining resident, caste or income certificate from the Govt Departments till they getting physical certificates from the universities  

for the above points raised by the viewer.

  1)   though the ICAI established by an act of parliament can any CA assure that no corruption activities are taking place in institute.........?   and the so called accounting body CAG which is occupied by a CA professionals in key places and roles,  who are part and parcel of ICAI Body, of course every one agrees that it is a genuine and very powerful body in the country,   there is no chance of auditing on themselves genuinely.

  2) even though the ICAI  presidents are not from BIG 4 s   most of the CAs who were qualified,  are working for  BIG 4s or in its associates or in associates of associates so there is a every chance of influence the ICAI board by BIG4s.

   4) is it correct to stop the supply of qualifieds by the board (ICAI)  to create demand in the society  where students interest involved highly ...........   is it correct  ?  does any one can support it except CA aspirants or qualified or CA pursuers ?  though ICAI  increase the supply of qualifieds,   there is every chance of safe situations,  in sections or rules of  "ICAI code of conduct" or "ICAI act"  for the CA opportunities  for example : no CA should accept lower professional fee from a client than a CA charged to that client before. so where is the chance of loosing opportunities. 

and 

why is the necessity of loosing genuineness of CAs. ?

where is the chance of falling of standards of functioning independently ? 

5) is it correct or supportable   a CAs who fail to disclose the facts about EMMR Case in Andhra ?  because it is not one rupee or one hundred or one thousand fraud it is about hundreds of crores fraud dint the CA found it during his tenure ? did he reported to ICAI ?
6) is it supportable CAs who fail to disclose the fraudulent statements given in annual report of Obulapuram Mining company,  which were given to the Registrar of Companies ?
7) is it such a less ability of a CA to find  the bad involved in the transactions of an entity ?
8) cant they follow ethics ?
9) is it supportable to continuing the CAs membership who are giving advises to their clients to hide incomes or transactions in businesses to avoid tax consequences ? where govt revenue interest involved ?


10) is it supportable a  CA   who take the certificate from their clients to escape from the negative results of the Audit reports ?

the old,  very strong and very powerful act in the country among some acts of  professions  is   "INDIAN CIVIL SERVICES Act" which was established long back  and long before the independence 

How many  Indian Civil service agents were alleged ?

no one says every thing is corrupted and no one says every one is a corrupter 

no one says every thing is genuine  

there are genuine civil service agents more than the corrupted ones  in the country 

there are many people in civil services doing good to the society,  but they dont feel like CAs   like    " we are rare,   we can do anything, no one can dare to ask etc., etc.,"        

as our viewer said it is established by an act    as on this day how many CAs  giving stiefund to there apparenties students  genuinely ?

how many CAs are there who are disclosing there genuine income in their annual income tax returns  ?

finally No one support that the "ICAI board and its members are  fully corrupted"   but corruption is like a slow poison and  "water beneath a mat" ;->   ........    there are many CAs who got padma bhushans and many more prestigious awards ......   and who made key decisions in critical positions in the history of indian economy ............