institute of cost and works accountants of india

Cost and Works Accountants will now only be known as Cost Accountants, with Parliament approving amendments to the existing legislation earlier today. Also, there will be some brand confusion as the Institute of Cost and Works Accountants of India will now be called the Institute of Cost Accounts of India. As a consequence, the Chartered Accounts Institute and the Cost Accounts Institute will share the same acronym - ICAI. Full Article

PRESIDENT Shri M. Gopalakrishnan , has been elected as President of The Institute of Cost and Works Accountants of India, for the year 2011-12 VICE PRESIDENT Shri Rakesh Singh, has been elected as Vice President of The Institute of Cost and Works Accountants of India, for the year 2011-12 Full Article

The PD Committee in its meeting held on 10th June 2010 at Bangalore has approved in principle the “Draft of ICWAI Members’ Handbook-A guide to members in employment and practice”. It was decided by PD Committee to seek feedback/ suggestions from the members by 7th July 2010. After analyzing these suggestions the PD Directorate will incorporate the same before putting up to Council in its meeting to held in July 2010 for final approval before printing. Full Article

One of the unkindest cuts is that the auditor of a company, necessarily a CA, shall not render such services as accounting and book-keeping, internal audit, design and implementation of any financial information system, actuarial, investment advisory, investment banking, rendering of outsourced financial services, and management services. Full Article

Issue of Cost Accounting Standards (CAS) is a pioneering initiative by the Institute of Cost and Works Accountants of India. The first CAS (CAS-1) was issued by the institute in the year 2002. The Preface to CostAccounting Standards issued by the institute has set out the following objectives to be achieved through CAS: to provide better guidelines on standard cost accounting practices; to assist cost accountants in preparation of uniform cost statements; to provide guid.. Full Article

The issues of opening up of accountancy services in India and recognition to Indian accountancy professionals in the UK are likely to get a push at the forthcoming India-UK talks on Corporate Governance. The key issue will be the reciprocal recognition to the members of the Institute of Chartered Accountants of India (ICAI) and its British counterpart. Full Article

Officials at Icwai have been lobbying the government to include cost accountants under the definition accountant as defined in the subsection 2 of Section 288 of the Income-tax Act. The finance ministry has ignored calls by cost accountants that they be treated at par with chartered accountants and be allowed to sign off on the financial statements of companies. Full Article

The Central Information Commission has slapped the maximum fine of Rs 25,000 provided under the RTI Act on the CEO of a cost accounting body for failure to give timely information in a case. The CIC slapped the fine on the Institute of Cost and Works Accountants of India’s (ICWAI) CEO, Sudhir Mukund Galande, while dismissing [...] Full Article