Information related to to CA, CS, CMA, ICAI, ICSI, Exam, CAG, MEF, Audit Empanelment, Accounting Standard, IFRS, Auditing Standard, Accounting Principles.
CA, CS, CMA : As we approach the mid-21st century, the landscape of the corporate world is poised for unprecedented transformation. The year 204...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
CA, CS, CMA : Understand cost records and audit rules for the construction industry, including applicability, special features, and benefits for...
CA, CS, CMA : Key controls for inventory valuation in Oracle Fusion: compliance, quality testing, and accurate reporting to avoid discrepancies ...
CA, CS, CMA : Key notifications from Income Tax, GST, RBI, and IBBI covering amendments, clarifications, and updates for the week of 27th Januar...
CA, CS, CMA : ICAI issues updated Merger and Demerger Guidelines 2024 to streamline processes for CA firms, encouraging strategic mergers. Effec...
CA, CS, CMA : ICAI to begin live virtual classes from Feb 13 for CA Foundation May & Sept 2025 exams. Interactive sessions with recorded lecture...
CA, CS, CMA : Explore ICAI's 2024-25 initiatives, including tech adoption, global expansion, MSME support, financial literacy, and alignment wit...
CA, CS, CMA : Apply online for Concurrent Audit assignments with Central Bank of India for the financial year 2025-26. Check eligibility and req...
CA, CS, CMA : Practice questions on Social Impact Assessment & CSR Audit, covering impact analysis, principles, methods, and taxation aspects fo...
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 : CA Ashish Baheti was found guilty of professional misconduct for accepting audit work without communicating with the previous audi...
CA, CS, CMA : ICAI penalizes a CA for professional misconduct under the Chartered Accountants Act, 1949, involving statutory audit acceptance wi...
CA, CS, CMA : ICAI introduces guidelines for the merger and demerger of CA firms, focusing on processes, documentation, and conditions for firms...
CA, CS, CMA : Learn about ICAI's Aggregation of LLPs Guidelines 2024, detailing eligibility, governance, registration, and compliance for LLPs w...
CA, CS, CMA : ICAI announces disciplinary actions for professional misconduct against five Chartered Accountants, including suspensions and fine...
The Ministry of Corporate Affairs (MCA) under notifications number S.O. 447(E) and 653(E) dated 28th February, 2011 and 30.03.2011 respectively notified that the annual accounts for the financial year ending 31st March 2012 shall be prepared in accordance with the revised Schedule VI. Hence, the new Schedule VI of the Companies Act, 1956 shall not be applicable to December, 2011 exam ination.
The President, in terms of the authority given to him by the Council at its 303rd meeting held on 10th, 11th and 12th February, 2011, has appointed Shri Manoj Kumar, Joint Secretary, Ministry of Corporate Affairs, the newly nominated member on the 21st Council in place of Dr. T.V. Somanathan, on the following Committees/Boards of the Institute, for the remaining period of the year 2011-2012.
In terms of the existing guidelines, an audit firm can take up statutory central audit of one PSB, four private sector banks and four foreign banks simultaneously each year.
Last date for submission of hard copy of the Declaration of MEF 2011-12 has been extended upto 15th September, 2011.
The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on Cost Accounting Standard -4 (CAS-4). This note has been exposed for the public comments. The proposed Exposure Draft shall be modified in light of comments received before being issued in the final form. I request all of you to please submit your views / comments / suggestions on the same latest by October 10, 2011 to the CASB Secretariat. I also request the members to send their views on the Generally Accepted Cost Accounting Principles, which has been already exposed for public comments.
ICAI Vs. Shaunak H. Satya & Ors. (Supreme Court of India)- The learned counsel of ICAI submitted that there are several hundred examining bodies in the country. With the aspirations of young citizens to secure seats in institutions of higher learning or to qualify for certain professions or to secure jobs, more and more persons participate in more and more examinations.
The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on CAS-4. It has been decided to expose the same for the public comments. The proposed Exposure Draft may be modified in light of comments received before being issued in the final form.
ICAI would soon bring out a Quick Insight on CA profession to be circulated to all CA firms/ practitioners for ready reference, which has been designed to include matters relating to direct and indirect tax, accounting standards, list of mandatory statements and standards on auditing, peer review, information regarding forms relevant to students, websites, contact e-mail ids of Committees of the Institute and that pertaining to the Companies Act, 1956 and LLP. I am sure that the members will find this initiative very useful and looking forward to your feedback on the same.
National Task Force on CARR and CAR constituted by the Council, in its 1st Meeting held on 25th August 2011, has established a “Technical Cell” at ICWAI, to go into all the queries and seek clarifications from the Cost Audit Branch (CAB), Ministry of Corporate Affairs and provide the same on receipt of official clarification from CAB by way of updated FAQs through the Institute website.
The Cost Accountants are authorised to conduct audit and other as follows: Statutory Auditors under Value Added Tax Act of States: Many States have authorised Cost Accountants for auditing, certification of returns and to appear as authorised representative on behalf of their clients under the Acts. Central Board of Excise and Customs (CBEC) authorizes Cost Accountants in practice for the following work: 1. Special Audit under Section 14A & 14AA of the Central Excise Act 1944; 2. Certification of refund of additional duty of Customs on the goods imported for subsequent sale under Indian Customs Act;
