chartered accountants

The word “document” is used to refer to a written or printed paper that bears the original, official, or legal form of something and can be used to furnish decisive evidence or information. “Documentation” refers to the act or an instance of the supplying of documents or supporting references or records. Full Article

The government on Thursday said cost accounting body ICWAI can change its name to Institute of Cost and Management Accountants of India . "We have in-principle allowed ICWAI to change its name to Institute of Cost and Management Accountants of India (ICMAI). Some statutory changes will be required. We are working on it. Hopefully in the near future it will be done," Corporate Affairs Minister Salman Khurshid said. Full Article

Making clear its commitment to converge Indian accounting norms with International Financial Reporting Standards (IFRS) by 2011, the government on Wednesday said all concerns of the industry would be addressed before convergence takes place. “We stand by our commitment to converge the Indian accounting norms with the IFRS and have synchronised the views of all stakeholders,” corporate affairs ministry secretary R Bandyopadhay said at a CII event. Full Article

The government has put its act together to see that the Company Law Board (CLB), the quasi-judicial body that gives verdicts on litigation and complaints that come under the purview of the Companies Act, gets a fresh set of members soon. This is in the backdrop of the arrest of R Vasudevan, the senior most CLB member, on November 24. This has left the board with just two members to hear the pending cases that run into thousands. Full Article

The Ministry of Corporate Affairs has established Indian Institute of Corporate Affairs (IICA) to act as the capacity building support for the officers / officials of the Ministry on issues relating to effective corporate functioning and regulation. The Institute can also design and deliver training programmes on such areas relating to corporate laws and regulations on specific requests from concerned Ministry / Department / Organisation. Giving this information in the R.. Full Article

This Exposure Draft on Financial Instruments: Amortised Cost and Impairment, has been issued by the International Accounting Standards Board with the objective to replace IAS 39 Financial Instruments: Recognition and Measurement with a new standard, to be known as IFRS 9 Financial Instruments. To achieve this, the Board divided its project to replace IAS 39 into three main phases. Full Article

XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. XBRL is one of a family of "XML" languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL provides major benefits in the preparation, analysis and communication of business information. Full Article

New Delhi: Accounting regulator, Institute of Chartered Accountants of India (ICAI), is planning to introduce a three-month mandatory training course for its students who pass the chartered accountancy and accounting technician examination every year. This would mean that a student after qualifying three year chartered accountancy course and one year accounting technician course will have to undergo an additional three months training programme. Full Article