Author : Deendayal Dhandaria*

Author : Mark L. Cheffers

Every professional faces risk of professional liability and litigation. These are generally attributable to client engagement risk, client financial risk, industry risk, firm risk and expectation gap. Before taking up any engagement, a professional should perform a thorough risk analysis in order to identify the suitability of taking up the work or modifying the scope of audit. Following checklists will prove to be very useful to every professional in mitigating his failure risk. - Editor

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Author : Mark L. Cheffers*

One of the most effective ways to protect your practice from abrupt catastrophe or failure is to practice ongoing client screening. In particular, this means not only developing a re-acceptance process, but also linking that process to a centralised client-risk-profile database that can be used to make firm-wide decisions. How to do it? Read on .... - Editor.

Author : Akshay Kumar*

"I am happy to announce that we have decided to extend the facility of dual citizenship to all overseas Indians who migrated from India after 26th January, 1950, as long as their home countries allow dual citizenship under their local laws. I do hope that a day will come when every single overseas Indian who wishes to secure Indian citizenship will actually be able to do so." Prime Minister Dr. Manmohan Singh.

Author : Pramod Jain*

Relevant Provisions: Through the Companies (Amendment) Act, 2002 which became effective from 6-2-2003, section 581J has been introduced in the Companies Act, 1956 whereby inter-state Co-operative Societies have been given an option to become Producer Companies.

Issue: The question that arises is that should such inter-state Co-operative Societies opt to become a Producer Company?