Information related to to CA, CS, CMA, ICAI, ICSI, Exam, CAG, MEF, Audit Empanelment, Accounting Standard, IFRS, Auditing Standard, Accounting Principles.
CA, CS, CMA : When it comes to auditing, planning carefully and doing things accurately are crucial for a successful audit. This easy guide expl...
CA, CS, CMA : Ensure your audit documentation aligns with SA 230 principles, laws, and overall audit objectives. Learn the essentials of proper ...
CA, CS, CMA : Learn how to calculate turnover for derivatives, speculative transactions, and multiple businesses as per ICAI's revised 2023 guid...
CA, CS, CMA : Understand the 60-tax audit rule for Chartered Accountants, its exceptions, and its implications on professional conduct and ethic...
CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...
CA, CS, CMA : Learn who can become a CS Mitr under the CS Mitr Scheme, the incentive structure, and essential eligibility criteria. Read the dis...
CA, CS, CMA : ICAI announces empanelment of members as observers for September/November 2024 Chartered Accountants Examinations. Eligible member...
CA, CS, CMA : ICAI announces November 2024 exam dates for CA Final, INTT-AT, and IRM courses. Check detailed schedule, centers, and application ...
CA, CS, CMA : Invitation for CA firms to audit XBRL India. Requirements, eligibility criteria, application process, and terms. Apply by 09/08/20...
CA, CS, CMA : Discover the latest updates from the Institute of Chartered Accountants of India for 2025 exams. Detailed analysis of course publi...
CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...
CA, CS, CMA : Delhi High Court rules that ICAI can hold entire CA firms accountable for misconduct, even if individual guilt isn't found. Full j...
CA, CS, CMA : Patna High Court dismisses a Chartered Accountant firm's petition for non-empanelment due to non-compliance with tender conditions...
CA, CS, CMA : Supreme Court upholds ICAI’s limit of 60 tax audits per CA, validating it as a reasonable restriction under Article 19(1)(g) of ...
CA, CS, CMA : Despite concerns over elections, Delhi High Court rejects plea to delay CA exams. Detailed analysis of the judgment provided....
CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...
CA, CS, CMA : Read about recent disciplinary actions by ICAI removing members from the register due to professional misconduct. Understand impli...
CA, CS, CMA : Explore the detailed analysis of a professional misconduct case under the Chartered Accountants Act 1949. Learn about findings, ch...
CA, CS, CMA : Explore the ICAI Board of Discipline's ruling on an audit dispute where the respondent's communication via registered post was dee...
CA, CS, CMA : The ICAI's Board of Discipline reprimanded CA Devarajan K.E. for misconduct, following an investigation into professional and othe...
As per CPE learning which is eligible for CPE credit for Unstructured Learning Activities(ULAs), the members are required to submit their Self-declaration in the form enclosed once in a year before 31st May, to avail the CPE Hours Credit for the ULAs undergone by them in the previous year. These forms would have to be submitted to the concerned Decentralized Offices. The members could also submit the same to the Sub-Decentralized Offices for onward submission to the concerned Decentralized Offices.
Section 209(1) (d) of the Companies Act, 1956, incorporated in 1965, is the backbone of statutory cost accounting in the Indian corporate sector. This framework put to practice, through promulgation of Cost Accounting Records Rules by the Government, has inculcated a sense of cost consciousness in large number of industries/companies. The mechanism of maintenance of cost records, to a very large extent, has helped industry to face the fierce competitive forces arising out of post-1991 liberalization and globalization. It also served well the legal and non-legal requirements of various regulatory authorities, government agencies, tariff/price fixation bodies, research organisations, etc.
The members of the Institute are kindly aware that the Election to the 18th Council of the Institute of Cost Accountants of India were held in 2011 in accordance with the Cost and Works Accountants (Election to the Council) Rules, 2006 read with the Cost and Works Accountants Act, 1959 and the Cost and Works Accountants Regulations, 1959.
Once it is held that the office of a chartered accountant or of a firm of chartered accountants does not come within the expression of shop or commercial establishment as defined in the Act of 1961, the corollary would be that the provisions of the Act of 1961 cannot be applied to the office of a chartered accountant or of a firm of chartered accountants.
The Principal Judge, Small Causes Court, Pune, and thereafter the District Judge, Pune, negatived the contention of the Corporation holding that profession of Chartered Accountant is neither a trade nor a business. Advocate for the Respondents drew my attention to the judgment reported in Current Tax Reporter Volume 80 Phillipos & Company, Chartered Accountants & Ors. versus State. This is the Judgment of the Karnataka High Court, wherein it is held that Office of the Chartered Accountant or of a firm of a Chartered Accountant is not an establishment within the meaning of Section 2(i) of the Karnataka Shops and Commercial Establishments Act, 1961, it is neither a shop nor a commercial establishment.
Cost Accounting Records Rules, 2011 do not visualize companies to change their cost accounting system if already in-place; but they are required to comply with the Generally Accepted Cost Accounting Principles and Cost Accounting Standards issued by the Institute of Cost Accountants of India, to the extent these are found to be relevant and applicable and also file compliance report with the Central Government. It was also observed that existence of structured & verified cost accounting records would enable the companies to fulfil regulatory requirements; comply with the Tax Accounting Standards; and assist is their tax assessments.
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Kolkatta and Hyderabad, some of the candidates have been allotted examinations centres in other zones of the said cities where the accommodation is available. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular zone of the city opted by them.
We had many options to end our life Poison, Sleeping pills, Hanging, Jump from building, Sleep under a train.. But we choose the bravest… Education (CA).
In terms of the decision of the Finance Committee taken at its 23rd meeting on the recommendations of the Examination Committee, it has been decided to henceforth charge a sum of Rs.500/- per person as the education verification fee from the companies/agencies seeking such verification of qualification. The fee shall be payable by way of a demand draft drawn in favour of the Secretary, The Institute of Chartered Accountants of India and payable at New Delhi.
Unlike many developed countries, Auditors in India have not been requisitely accountable, resulting in frequent undermining of this important aspect. Apart from recent cases of distortionary corporate governance involving highly reputed firms, cases are detected regularly by the regulatory authorities where the Auditors have failed to point out gross violations and even blatant misrepresentations. In the absence of adequate effective provisions, the Auditors are hardly ever held accountable for these lapses.
