Board of Studies
The Institute of Chartered Accountants of India
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 – Foundation Course Examination
Paper 2, Section A: Business Laws for May 2023 examination
|
(1) |
(2) | (3) |
|
S. No. in the |
Chapters/ Topics of the |
Inclusions |
| 1. | Chapter 1: The Indian Contract Act, 1872 | The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
| 2. | Chapter 2: The Sale of Goods Act, 1930 | The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
| 3. | Chapter 3: The Indian Partnership Act, 1932 | The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
| 4. | Chapter 4: The Limited Liability Partnership Act, 2008 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
| 5. | Chapter 5: The Companies Act, 2013 | The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
Notes: September 2021 edition of the Study Material is relevant for May 2023 examinations. The amendments – made after the issuance of this Study Material – i.e. for period 1st of May 2021 to 31st October, 2022 shall also be relevant. The relevant Legislative amendments for May 2023 will be available on the BoS Knowledge Portal.
Paper 3 – Business Mathematics. Logical Reasoning and Statistics
The following topics are deleted from the syllabus of Foundation Paper 3: Business Mathematics, Logical Reasoning and statistics from May 2022 examinations:
| Chapter No | Deleted Topics |
| Chapter 2 | Unit II : Matrices |
| Chapter 13 | Syllogism |
| Chapter 19 | Unit II : Time Series |
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 Examination- Intermediate Level (New Course)
Paper 1: Accounting
List of Applicable Accounting Standards
AS 1 : Disclosure of Accounting Policies
AS 2 : Valuation of Inventories
AS 3 : Cash Flow Statements
AS 10 : Property, Plant and Equipment
AS 11 : The Effects of Changes in Foreign Exchange Rates
AS 12 : Accounting for Government Grants
AS 13 : Accounting for Investments
AS 16 : Borrowing Costs
Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2023 Examination
The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2022 will be applicable for May, 2023 Examination.
Non-Applicability of Ind AS
The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS do not form part of the syllabus and hence are not applicable.
Paper 2: Corporate and Other Laws
The provisions of the Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the Other Laws, as amended by concerned authority, including significant notifications and circulars issued up to 31 st October 2022 are applicable for May 2023 examination.
|
(1) |
(2) | (3) |
| Chapters/ Topics of the syllabus | Inclusions (Provisions which are included from the corresponding chapter/topic of the syllabus) | Exclusions (Provisions which are excluded from the corresponding chapter/ topic of the syllabus) |
| Part I: Company Law | ||
| The Companies Act, 2013 (Sections 1 to 148) | The entire content included in the September 2021 edition of the Study Material is applicable.
Also, the Legislative amendments hosted on the website for May 2023 examinations, shall also be relevant for the said examinations. |
(i) Sections 24, 30, 33, 38 & 41 [from chapter 3- Prospectus and Allotment of Securities]
(ii) Sections 44, 45, 60, 65 & 72 [from chapter 4- Share capital and Debentures] (iii) Section 75 [from chapter 5- Acceptance of deposits by companies] (iv) Section 81 & 85 [from chapter 6- Registration of Charges] |
| Part II: Other Laws | ||
| 1. The Indian Contract Act, 1872 (Specific contracts from section 123 onwards) | The entire content included in the September 2021 edition of the Study Material is applicable. | – |
| 2.The Negotiable Instruments Act, 1881 | The entire content included in the September 2021 edition of the Study Material is applicable. | – |
| 3.The General Clauses Act, 1897 | The entire content included in the September 2021 edition of the Study Material is applicable. | – |
| 4. Interpretation of Statutes | The content of the chapter covering Principles of Interpretation in the September 2021 edition of the study material shall form the base for May 2023 examination. | – |
Note: September 2021 edition of the Study Material is relevant for May 2023 examinations. The amendments made after the issuance of this Study Material for the period of 1 st May 2021 to 31st October 2022– are also relevant for May 2023 examinations. The Relevant Legislative amendments will be available on the BoS Knowledge Portal.
Paper 4: Taxation
Section A: Income-tax Law
The provisions of income-tax law, as amended by the Finance Act, 2022, including significant circulars, notifications, press releases issued and legislative amendments made upto 31st October, 2022, are applicable for May, 2023 examination. The relevant assessment year for income-tax is A.Y. 2023-24.
Note –The May, 2022 edition of the Study Material for Intermediate (New) Paper 4A, based on the provisions of income-tax law, as amended by the Finance Act, 2022, is relevant for May, 2023 examination. The said Study Material is available at https://www.icai.org/post.html?post_id=18481. The Study Material has to be read along with the Statutory Update for May, 2023 examination, webhosted at the BoS Knowledge Portal. The initial pages of the Study Material available at https://resource.cdn.icai.org/71132bos57143-m-ip1.pdf contains the Study Guidelines which specifies the list of topic-wise exclusions from the scope of syllabus.
Section B: Indirect Taxes
Applicability of the GST law : The provisions of the CGST Act, 2017 and the IGST Act, 2017 as amended by the Finance Act, 2022, including significant notifications and circulars issued and other legislative amendments made, up to 31st October, 2022, are applicable for May 2023 examination.
The Study Guidelines given below specify the exclusions from the syllabus for May 2023 examination.
List of topic-wise exclusions from the syllabus
|
(1) |
(2) | (3) |
| S.No. in the syllabus | Topics of the syllabus | Exclusions (Provisions which are excluded from the corresponding topic of the syllabus) |
| 2(ii)(c) | Charge of tax including reverse charge | CGST Act, 2017
(i) Rate of tax prescribed for supply of goods* (ii) Rate of tax prescribed for supply of services* (iii) Categories of supply of goods, tax on which is payable on reverse charge basis under section 9(3) IGST Act, 2017 (iv) Rate of tax prescribed for supply of goods (v) Rate of tax prescribed for supply of services (vi) Categories of supply of goods, tax on which is payable on reverse charge basis under section 5(3) (vii) Determination of nature of supply – Inter-State supply; Intra-State supply; Supplies in territorial waters (viii) Special provision for payment of tax by a supplier of online information and database access or retrieval [OIDAR] services |
| 2(ii)(d) | Exemption from tax | CGST Act, 2017 & IGST Act, 2017 Exemptions for supply of goods |
| 2(iii) | Basic concepts of time and value of supply | CGST Act, 2017 & CGST Rules, 2017
(i) Provisions relating to change in rate of tax in respect of supply of goods or services (ii) Chapter IV: Determination of Value of Supply [Rules 27-35] of CGST Rules, 2017 |
| 2(iv) | Input tax credit | CGST Act, 2017 read with CGST Rules, 2017
(i) Manner of determination of input tax credit in respect of inputs or input services and reversal thereof [Rule 42] (ii) Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases [Rule 43] (iii) Input tax credit provisions in respect of inputs and capital goods sent for job work (iv) Input tax credit provisions relating to distribution of credit by Input Service Distributor [ISD] (v) Manner of recovery of credit distributed in excess (vi) Manner of reversal of credit of additional duty of customs in |
| 2(ix) | Payment of tax | CGST Act, 2017
(i) Tax deduction at source (ii) Collection of tax at source |
*Rates specified for computing the tax payable under composition levy are included in the syllabus.
Notes:
(1) The syllabus includes select provisions of the CGST Act, 2017 and IGST Act, 2017 and not the entire CGST Act, 2017 and the IGST Act, 2017. The provisions covered in any topic(s) of the syllabus which are related to or correspond to the topics not covered in the syllabus shall also be excluded.
(2) In the above table, in respect of the topics of the syllabus specified in column (2) the related exclusion is given in column (3). Where an exclusion has been so specified in any topic of the syllabus, the provisions corresponding to such exclusions, covered in other topic(s) forming part of the syllabus, shall also be excluded. For example, since provisions relating to ISD and tax collection at source are excluded from the topics “Input tax credit” and “Payment of tax including reverse charge” respectively, the provisions relating to registration of ISD and person required to collect tax at source and (ii) filing of returns by an ISD and submission of TCS statement by an electronic commerce operator required to collect tax at source are also excluded from the topics “Registration” and “Returns” respectively.
(3) August 2021 edition of the Study Material read with Supplementary Study Paper for May 2023 examination are relevant for said examination. The amendments in the GST law made after the issuance of the Study Material – to the extent covered in the Supplementary Study Paper for May 2023 examination alone shall be relevant for the said examination.
(4) The entire content included in the August 2021 edition of the Study Material (except the exclusions mentioned herein) and the Supplementary Study Paper for May 2023 examination shall be relevant for the said examination.
Paper 5: Advanced Accounting
List of Applicable Accounting Standards
AS 4 : Contingencies and Events Occurring After the Balance Sheet Date
AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
AS 7 : Construction Contracts
AS 9 : Revenue Recognition
AS 14 : Accounting for Amalgamations
AS 17 : Segment Reporting
AS 18 : Related Party Disclosures
AS 19 : Leases
AS 20 : Earnings Per Share
AS 22: Accounting for Taxes on Income
AS 24 : Discontinuing Operations
AS 26 : Intangible Assets
AS 29 : Provisions, Contingent Liabilities and Contingent Assets.
Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2023 Examination
The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2022 will be applicable for May, 2023 Examination.
Non-Applicability of Ind AS
The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS do not form part of the syllabus and hence are not applicable.
Paper 6: Auditing and Assurance
List of topic-wise inclusion in the syllabus
I. List of applicable Engagements and Quality Control Standards on Auditing
| S.No | SA | Title of Standard on Auditing |
| 1 | SQC 1 | Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements |
| 2 | SA 200 | Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing |
| 3 | SA 210 | Agreeing the Terms of Audit Engagements |
| 4 | SA 220 | Quality Control for Audit of Financial Statements |
| 5 | SA 230 | Audit Documentation |
| 6 | SA 240 | The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements |
| 7 | SA 250 | Consideration of Laws and Regulations in An Audit of Financial Statements |
| 8 | SA 299 | Joint Audit of Financial Statements |
| 9 | SA 300 | Planning an Audit of Financial Statements |
| 10 | SA 315 | Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment |
| 11 | SA 320 | Materiality in Planning and Performing an Audit |
| 12 | SA 500 | Audit Evidence |
| 13 | SA 501 | Audit Evidence – Specific Considerations for Selected Items |
| 14 | SA 505 | External Confirmations |
| 15 | SA 510 | Initial Audit Engagements-Opening Balances |
| 16 | SA 520 | Analytical Procedures |
| 17 | SA 530 | Audit Sampling |
| 18 | SA 550 | Related Parties |
| 19 | SA 560 | Subsequent Events |
| 20 | SA 570 | Going Concern (Revised) |
| 21 | SA 580 | Written Representations |
| 22 | SA 610 | Using the Work of Internal Auditors |
| 23 | SA 700 | Forming an Opinion and Reporting on Financial Statements |
| 24 | SA 701 | Communicating Key Audit Matters in the Independent Auditor’s Report |
| 25 | SA 705 | Modifications to the Opinion in the Independent Auditor’s Report |
| 26 | SA 706 | Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report |
| 27 | SA 710 | Comparative Information – Corresponding Figures and Comparative Financial Statements |
II Applicability of the Companies Act, 2013 and other Legislative Amendments
(i) The September, 2021 Edition of the Study Material on Intermediate Paper 6: Auditing and Assurance [comprising of 2 Modules – Modules 1 – 2] is relevant for May, 2023 Examinations. This is an integrated Study Material cum Practice Manual.
Students are expected to be updated with the notifications, circulars and other legislative amendments made upto 6 months prior to the examination. For instance, for May, 2023 examination, significant notifications and circulars issued upto 31st October, 2022 would be relevant.
The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 31st October, 2022 will be applicable for May, 2023 Examination. It may be noted that the significant notifications and circulars issued up to 31st October, 2022, which are not
covered in the September, 2021 Edition of the Study Material, would be given as Academic Update in the Revision Test Paper for May, 2023 Examination.
NOTE:
Applicability of the Amendments to Schedule III to the Companies Act, 2013 : The Central Government made certain amendments in Schedule III to the Companies Act, 2013 (vide Notification dated 24th March, 2021), with effect from 1st day of April, 2021.These amendments to Schedule III are applicable for May, 2023 Examination.
(iii) Companies (Auditor’s Report) Order, 2020 issued by Ministry of Corporate Affairs is applicable for May, 2023 Examination.
List of topic-wise exclusion in the syllabus
I. Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143(1) of the Companies Act, 2013) excluded.
II. Following Engagements and Quality Control Standards on Auditing excluded:
| (1) | (2) | (3) |
| S. No | SA | Exclusions |
| 1 | SA 260 | Communication with Those Charged with Governance (Revised) |
| 2 | SA 265 | Communicating Deficiencies in Internal Control to Those Charged with Governance and Management |
| 3 | SA 330 | The Auditor’s Responses to Assessed Risks |
| 4 | SA 402 | Audit Considerations Relating to an Entity Using a Service Organization |
| 5 | SA 450 | Evaluation of Misstatements Identified during the Audits |
| 6 | SA 540 | Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures |
| 7 | SA 600 | Using the Work of Another Auditor |
| 8 | SA 620 | Using the Work of an Auditor’s Expert |
| 9 | SA 720 | The Auditor’s Responsibilities Relating to Other Information |
III. Following Guidance Notes are excluded:
1. Guidance Note on Audit of Inventories.
2. Guidance Note on Audit of Debtors, Loans and Advances.
3. Guidance Note on Audit of Investments.
4. Guidance Note on Audit of Cash and Bank Balances.
3. Guidance Note on Audit of Liabilities.
4. Guidance Note on Audit of Revenue.
5. Guidance Note on Audit of Expenses.
6. Guidance Note on Reporting under section 143(3)(f) and (h) of the Companies Act, 2013
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 Examination (Study Guidelines for May 2023 Examinations)
Paper 1: Financial Reporting
List of topic-wise exclusions from the syllabus
| (1) | (2) | (3) |
| S. No. in the revised syllabus | Topics of the syllabus | Exclusions |
| 2. | Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements (v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS (viii) Other Ind AS |
Indian Accounting Standard (Ind AS) 16 ‘Property, Plant and Equipment’
Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’
|
|
||
| 5. | Analysis of financial statements |
Accounting Standards |
Notes:
(1) October, 2021 edition of the Study Material is relevant for May, 2023 examination. The relevant / applicable topics or content are to be read alongwith the webhosted ‘Corrigendum to Study Material’, if any.
(2) The relevant Amendments / Notifications / Circulars / Rules issued by the Companies Act, 2013 up to 31st October, 2022 will be applicable for May, 2023 Examination. Accordingly, amendments issued by MCA and notified by the Central Government on 20th September, 2022 wrt Amendments in the Companies (Corporate Social Responsibility) Rules, 2014 is applicable for May, 2023 Examination.
Paper 3: Advanced Auditing and Professional Ethics
A. List of topic-wise inclusion in the syllabus
I. List of applicable Statements and Standards:
1. Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143(1) of the Companies Act, 2013).
2. Framework for Assurance Engagements.
II. List of applicable Engagements and Quality Control Standards on Auditing
| S.No | SA | Title of Standard on Auditing |
| 1 | SQC 1 | Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements |
| 2 | SA 200 | Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing |
| 3 | SA 210 | Agreeing the Terms of Audit Engagements |
| 4 | SA 220 | Quality Control for Audit of Financial Statements |
| 5 | SA 230 | Audit Documentation |
| 6 | SA 240 | The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements |
| 7 | SA 250 | Consideration of Laws and Regulations in An Audit of Financial Statements |
| 8 | SA 260 | Communication with Those Charged with Governance (Revised) |
| 9 | SA 265 | Communicating Deficiencies in Internal Control to Those Charged with Governance and Management |
| 10 | SA 299 | Joint Audit of Financial Statements (Revised) |
| 11 | SA 300 | Planning an Audit of Financial Statements |
| 12 | SA 315 | Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment |
| 13 | SA 320 | Materiality in Planning and Performing an Audit |
| 14 | SA 330 | The Auditor’s Responses to Assessed Risks |
| 15 | SA 402 | Audit Considerations Relating to an Entity Using a Service Organization |
| 16 | SA 450 | Evaluation of Misstatements Identified during the Audits |
| 17 | SA 500 | Audit Evidence |
| 18 | SA 501 | Audit Evidence – Specific Considerations for Selected Items |
| 19 | SA 505 | External Confirmations |
| 20 | SA 510 | Initial Audit Engagements-Opening Balances |
| 21 | SA 520 | Analytical Procedures |
| 22 | SA 530 | Audit Sampling |
| 23 | SA 540 | Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures |
| 24 | SA 550 | Related Parties |
| 25 | SA 560 | Subsequent Events |
| 26 | SA 570 | Going Concern |
| 27 | SA 580 | Written Representations |
| 28 | SA 600 | Using the Work of Another Auditor |
| 29 | SA 610 | Using the Work of Internal Auditors |
| 30 | SA 620 | Using the Work of an Auditor’s Expert |
| 31 | SA 700 | Forming an Opinion and Reporting on Financial Statements |
| 32 | SA 701 | Communicating Key Audit Matters in the Independent Auditor’s Report |
| 33 | SA 705 | Modifications to the Opinion in the Independent Auditor’s Report |
| 34 | SA 706 | Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report |
| 35 | SA 710 | Comparative Information – Corresponding Figures and Comparative Financial Statements |
| 36 | SA 720 | The Auditor’s Responsibility in Relation to Other Information |
III. List of applicable Guidance Notes and other publications for May, 2023 Examination:
1. Guidance Note on Audit under Section 44AB of the Income-tax Act.
2. Guidance Note on Audit of Banks.
3. Guidance Note on Audit of Internal Financial Controls over Financial Reporting.
4. Guidance Note on CARO 2020
IV Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2023 Examination
(i) Students are expected to be updated with the notifications, circulars and other legislative amendments made up to 6 months prior to the examination. Accordingly, the relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 31st October, 2022 will be applicable for May, 2023 Examination. It may be noted that the significant notifications and circulars issued which are not covered in the October 2021 edition of Study Material, would be given as Academic Update in the Revision Test Paper for May, 2023 Examination.
(ii) Companies (Auditor’s Report) Order, 2020 issued by Ministry of Corporate Affairs is applicable for May, 2023
(iii) Peer Review Guidelines, 2022 are applicable for May 2023 Examination.
(iv) Revised Chapter on Professional Ethics based on Code of Ethics 2020 is applicable for May, 2023 Examination.
(v) Applicability of the Amendments to Schedule III to the Companies Act, 2013: The Central Government made certain amendments in Schedule III to the Companies Act, 2013 (vide Notification dated 24th March, 2021), with effect from 1st day of April, 2021.These amendments to Schedule III are applicable for May, 2023 Examination.
(vi) Applicability of Amendments in Chapter on Audit of NBFCs are applicable for May, 2023 Examination.
B- List of topic-wise exclusions from the syllabus
I. Non-Applicability of GST Audit topic: GST Audit Topic is not applicable for May, 2023 Examination.
II. Following Engagement and Quality Control Standards excluded:
| (1) | (2) | (3) |
| S. No | Topics of the syllabus |
Exclusions |
| 1 | SA 800 | Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Framework |
| 2 | SA 805 | Special Considerations-Audits of Single Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement |
| 3 | SA 810 | Engagements to Report on Summary Financial Statements |
| 4 | SRE 2400 | Engagements to Review Historical Financial Statements (Revised) |
| 5 | SRE 2410 | Review of Interim Financial Information Performed by the Independent Auditor of the Entity |
| 6 | SAE 3400 | The Examination of Prospective Financial Information |
| 7 | SAE 3402 | Assurance Reports on Controls At a Service Organisation |
| 8 | SAE 3420 | Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus (New) |
| 9 | SRS 4400 | Engagements to Perform Agreed Upon Procedures Regarding Financial Information |
| 10 | SRS 4410 | Compilations Engagements (Revised) |
III. Following Guidance Notes and other publications are excluded:
1. Code of Ethics publication is excluded whereas Chapter 18 on Professional Ethics is in syllabus
2. Guidance Note on Independence of Auditors.
3. Guidance Note on Audit of Inventories.
4. Guidance Note on Audit of Debtors, Loans and Advances.
5. Guidance Note on Audit of Investments.
6. Guidance Note on Audit of Cash and Bank Balances.
7. Guidance Note on Audit of Liabilities.
8. Guidance Note on Audit of Revenue.
9. Guidance Note on Audit of Expenses.
10. Guidance Note on Computer Assisted Audit Techniques (CAATs).
11. Guidance Note on Audit of Payment of Dividend.
12. Guidance Note on Audit of Capital and Reserves.
13. Guidance Note on Reporting under section 143(3)(f) and (h) of the Companies Act, 2013
14. Guidance Note on Reporting on Fraud under section 143(12) of the Companies Act, 2013.
Paper 4: Corporate and Economic Laws
The provisions of the Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the Economic Laws, as amended by concerned authority, including significant notifications and circulars issued up to 31 st October 2022 are applicable for May 2023 examination.
| Inclusions / Exclusions from the syllabus | ||
| Chapters/ Topics of the syllabus
(1) |
Inclusions (Provisions which are included from the corresponding chapter of the syllabus)(2) |
Exclusions (Provisions which are excluded from the corresponding chapter of the syllabus)(3) |
| Part I: Section A- Company Law | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations.Even Rules to the extent covered in the Study material, are only relevant. |
Following sections of the Companies Act, 2013 are excluded- 337-351, 359-378, 396-405, 408- 419, 441, 448- 449, 451-453, 456 – 470 and provisions related to Producer Companies. |
| Part I: Section B- Securities Laws- Chapter 1: The Securities Contract (Regulation) Act, 1956 and Securities Contract (Regulation) Rules, 1957 | – | The entire chapter is excluded. |
| Part I: Section B- Securities Laws– Chapter 2: The Securities Exchange Board of India Act, 1992 and SEBI (LODR) Regulations, 2015 | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations.In particular, SEBI (LODR) Regulations, 2015 to the extent covered in the study material, shall only be applicable for the examination. |
Following provisions of the SEBI Act, are excluded – Sections 2(1)(b), 2(1)(c), 2(1)(d), 2(1)(da), 2(1)(f), 2(1)(fa), 2(1)(g), 21, 25, 28,33 & 35. |
| Part II: Economic Laws
Chapter 1: The Foreign Exchange Management Act, 1999 |
The FEMA, 1999 along with the following Rules/Regulations to the extent covered in the October 2021 edition of the study material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations-
|
Following provisions of the FEMA, 1999 is excluded for the examination-Sections 2(cc) & Section 2(gg), 16(2)- 16(6) ,17(4) 17(6), 19 to 34, 37(2) – 37(3), 37A, 45, 46, 47 & 48.All other FEM (Regulations)/ Rules except given in column (2), are excluded. |
| Chapter 2: SARFAESI Act, 2002 | – | The entire chapter is excluded. |
| Chapter 3: The Prevention of Money Laundering Act, 2002 | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations.Rules to the extent covered in the Study material are only relevant. |
Following Sections are excluded for examination: 2(1)(a), (b)(c), (d), (da), (f), (g), (h), (i), (ia), (ib), (j), (ja), (k), (m), (na), (o), (q), (r), (rc), (s), (sb),
(sc), (t), (va), (z) , (zb) & (2)- |
| Chapter 4: The Foreign Contribution Regulation Act, 2010 | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. Rules related to FCRR, 2011 is relevant to the extent covered in the Study Material. |
Following Sections are excluded for examination:
Section 2(1)(a), (b), (c), (d), (e), (f), (k), (l), (o), (p), (q), (s), (t), & (u)- |
| Chapter 5: The Arbitration and Conciliation Act, 1996 | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
– |
| Chapter 6: The Insolvency and Bankruptcy Code, 2016 | The entire content included in the October 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations covering-
Even Rules and the Regulations related to Insolvency and Bankruptcy Code, are relevant to the extent covered in the Study Material. |
Provisions from section 60 onwards are excluded. |
Notes:
(1) In the above table of exclusion, in respect of the Chapters of the syllabus specified in column (1) the related exclusion is given in column (3). Where an exclusion has been so specified in any topic of the syllabus, the provisions corresponding to such exclusions, covered in other topic(s) forming part of the syllabus, shall also be excluded.
(2) October 2021 edition of the Study Material is relevant for May 2023 examinations.
(3) Except the exclusions mentioned in the column (3) of the table, the entire content of the syllabus included in the October 2021 edition of the Study Material shall only be relevant for the said examinations.
(4) The amendments – made after the issuance of this Study Material for the period 1st of May 2021 to 31st October 2022 shall also be relevant for May 2023 examination. The Relevant Legislative amendments are hosted on the BoS Knowledge Portal.
ELECTIVE PAPERS
Paper 6A: Risk Management
“The pattern of examination for this paper is open-book and case study based. The entire content included in the August 2019 edition of the Study Material (including additional topics mentioned in the syllabus) shall be relevant for the May 2023 examination.”
Paper 6B: Financial Services and Capital Markets
The pattern of examination for this paper is open-book and case study based. Part A of the Study Material of Financial Services and Capital Markets (November 2020 Edition) shall be relevant for the May 2023 examination. Furthermore, as contained in Part B of the Study Material of Financial Services and Capital Markets (July 2022 Edition), following SEBI Regulations (excluding Schedules) revised upto 30th June 2022 are also relevant:
a. SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
b. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
c. SEBI (Prohibition of Insider Trading) Regulations, 2015
d. SEBI (Buy Back of Securities) Regulations, 2018
e. SEBI (Mutual Funds) Regulations, 1996
Paper – 6C : International Taxation
1. Applicability of amendments made by Finance Act
As far as the applicability of Finance Act is concerned, the amendments made by the Finance Act of a particular year would be applicable for May and November examinations of the next year. Accordingly, the direct tax laws, as amended by the Finance Act, 2022, would be applicable for May, 2023 examinations. The relevant assessment year for May, 2023 examinations is A.Y.2023-24. This would be relevant as far as the topics on International Taxation pertain to the Income-tax Act, 1961, equalization levy and the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
However, if the case study based question requires computation/determination relating to any earlier assessment year also, then, the relevant provisions pertaining to that year would be given in the question itself. In the alternative, the question may mention that the relevant provisions in the earlier year were the same as they are for A.Y.2023-24.
2. Applicability of amendments made by circulars, notifications, press releases/press notes and other legislations
Students are expected to be updated with the notifications, circulars, press releases/press notes issued and other legislative amendments made in direct tax laws upto 6 months prior to the examination. For instance, for May, 2023 examination, significant notifications, circulars, press releases/press notes issued by the CBDT/Central Government and legislative amendments made upto 31st October, 2022 would be relevant.
3. Applicability of provisions of direct tax laws dealt with in Final (New) Paper 7 while addressing issues and making computation in case study based questions in Final (New) Paper 6C
The questions based on case study in the Elective Paper 6C: International Taxation may involve application of other provisions of direct tax laws dealt with in detail in Paper 7: Direct Tax Laws and International Taxation, which the students are expected to be aware of. Students may note that they are expected to integrate and apply the provisions of direct tax laws (dealt with in Final Paper 7: Direct Tax Laws and International Taxation and in the Elective Paper 6C: International Taxation) in making computations and addressing relevant issues in questions raised in the Elective Paper 6C on International Taxation.
Therefore, the October, 2021 edition of the Study Material for Final Paper 6C: International Taxation available at https://www.icai.org/post.html?post_id=17802 and Final Paper 7: Direct Tax Laws and International Taxation available at https://www.icai.org/post.html?post_id=17843 read with the Supplementary Study Paper – 2022, containing the amendments made by the Finance Act, 2022 and notifications and circulars issued between 1.11.2021 to 31.10.2022,and the Judicial Update relevant for May, 2023 examination, are relevant and important for answering case-study based questions in Paper 6C. These publications have to be read along with the relevant bare Acts and Rules to address issues and make computations in case study based questions. The initial pages of the Study Material of Paper 6C available at https://resource.cdn.icai.org/66899bos53930ip.pdf contains the link to the important webpages of the income-tax department and the relevant bare Acts and Rules.
4. Scope of coverage of certain topics
As regards certain topics on International Taxation, namely, Tax Treaties: Overview, Features, Application & Interpretation and Anti-Avoidance Measures, only the content as covered in the October, 2021 edition of the Study Material and Supplementary Study Paper – 2022 is relevant. US Model Convention is excluded from the scope of the topic “Overview of Model Tax Conventions” by way of Study Guidelines.
It may be noted that if a case study based question involves application of a double taxation avoidance agreement (DTAA), the extract of the relevant article(s) of the DTAA would be given in the question paper. Alternatively, the question may mention that the DTAA is in line with the OECD/UN Model Tax Convention, in which case, the students have to refer to the relevant article(s) of the Model Tax Convention. Students are expected to have the ability to interpret the article(s) of the DTAA in answering case study based questions.
Paper 6D: Economic Laws
All the significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued in the specified Acts covered under the Economic Laws, up to 31st October, 2022, are applicable for May 2023 examination.
|
(1) |
(2) | (3) |
| Inclusions | Exclusions | |
| Chapters/ Topics of the syllabus | (Provisions which are included from the corresponding chapter of the syllabus) | (Provisions which are excluded from the corresponding chapter of the syllabus) |
| Chapter 1- The Competition Act, 2002 and Rules/Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments (if any) hosted on the website, shall only be relevant.
Significant Rules/ Regulations related to the Competition Act to the extent covered in the study material, are only relevant for said examination. |
Following Sections of the Competition Act, 2002 are excluded for the examination: 34, 37, 38, 40 are excluded. |
| Chapter 2- Real Estate (Regulation and Development) Act, 2016 and Rules/Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments, if any, hosted on the website, shall only be relevant. |
Regulations pertaining to RERA are excluded. |
| Chapter 3- The Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments hosted on the website(if any), shall only be relevant for the said examinations
In specific, Regulations /Rules related to Insolvency and Bankruptcy, are covered in a limited manner and not in entirety. These shall only be applicable to the extent covered in the study material. |
Following sections are excluded of the Notified chapters of the Code:
3(2), 3(3), 3(5), 3(14), 3(22), 3(24), 3(25), 3(26), 3(28), 3(29), 3(32), 3(36), 3(37), 5(2) to 5(4), 5(16), |
| Chapter 4- The Prevention of Money Laundering Act, 2002 and Rules/ Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments (if any) hosted on the website, shall only be relevant. Rules to the extent covered in the study material are relevant. | – |
| Chapter 5- The Foreign Exchange Management Act, 1999 and Rules /Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments (if any), hosted on the website, shall only be relevant.
In specific following FEM (Regulations)/ Rules read with the Act, shall only be applicable to the extent covered in the study material-
|
Following FEM(Regulations)/ Rules are entirely excluded:
|
| Chapter 6 – Prohibition of Benami Property Transactions Act,1988 and Rules/ Regulations | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments (if any) hosted on the website, shall only be relevant. | – |
| Chapter 7- SARFAESI, 2002 | The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments (if any) hosted on the website, shall only be relevant. | – |
Notes:
(1) In the above table of Inclusion/Exclusion, in respect of the Chapters of the syllabus specified in column (1) the related exclusion is given in column (3). Where an exclusion has been so specified in any topic of the syllabus, the provisions corresponding to such exclusions, covered in other topic(s) forming part of the syllabus, shall also be excluded.
(2) October 2021 edition of the Study Material and Booklet on Significant Case Laws of January 2022 edition are relevant for May 2023 examinations.
(3) Except the exclusions mentioned in the column (3) of the table, the entire content of the syllabus included in the October 2021 edition of the Study Material, shall be relevant for the said examinations.
Paper 6E: Global Financial Reporting Standards
1. Relevant Study Material and Scope of Coverage of the content
October, 2021 edition of the Study Material is relevant for May, 2023 examination.
The study material contains the amendments in IFRS equivalent to the corresponding amendments taken place in Ind AS till 31st October, 2021. In case any amendment had taken place in IFRS but the same is yet to be notified in Ind AS, then it would not be applicable for this paper for May, 2023 examination. Similarly, any amendment which has been notified by the MCA before 31 st October, 2022 in Ind AS will be applicable for equivalent IFRS as well. Accordingly, amendments in Ind AS was made by the MCA in
March, 2022. The amendments in IFRS equivalent to corresponding amendments in
Ind AS (made in March, 2022) will be applicable for May, 2023 GFRS examination. Refer Annexure to this Study Guidelines.
As regards to the topic on ‘Significant differences between IFRS and US GAAPs’, the content as covered in the chapter given in the study material would be relevant for May, 2023 examination. The same file has also been uploaded on the website at the link https://resource.cdn.icai.org/48696bos32691a.PDF.
2. Non-applicability of certain International Financial Reporting Standards (IFRS) and IFRS Interpretations (IFRICs)
Since the Core paper on Financial Reporting does not cover Ind AS equivalent to IAS 26, IAS 29 (including IFRIC 7), IFRS 4, IFRS 6, IFRS 14 and IFRS 17, the same IFRS do not form part of GFRS Paper. Similarly, in applicable Ind AS there are no corresponding Appendix on IFRIC 2 and SIC 7, hence these IFRICs also do not form part of the GFRS Paper.
Annexure
IFRS Amendments applicable for May, 2023 examination
Following amendments are applicable for GFRS paper:
- Amendment to IAS 16 ‘Property, Plant and Equipment’ on accounting of proceeds from sale of items produced during testing
- Amendment to IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’ on determination of cost of fulfilling a contract for measurement of provision for an onerous contract.
- Amendments to IFRS 3 ‘Business Combinations’ with reference to Conceptual Framework for Financial Reporting and insertion of certain paragraphs under exceptions to recognition principle on liabilities, contingent liabilities and contingent assets
- Annual improvements to IFRS in IFRS 1 ‘First Time Adoption of International Financial Reporting Standards’, IFRS 9 ‘Financial Instruments’ and IAS 41 ‘Agriculture’.
The key amendments applicable for May, 2023 examination are:
|
IFRS |
Significant amendments applicable for May, 2023 examination |
| IAS 16, ‘Property, Plant and Equipment’ | Para 17(e) of IAS 16 has been amended by adding a clarification that the excess of net proceeds from sale of items produced during testing will be credited to Profit or loss. |
| IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’ | Paragraph 68A has been inserted which clarifies which cost needs to be considered in the costs to fulfil a contract while determining whether the contract is onerous.
As per the amendment, both the incremental costs to fulfil a contract and allocation of directly attributable costs will form part of the cost used for determination of onerous contract. Para 69 has been amended by replacing ‘assets dedicated to the contract’ to ‘assets used in fulfilling the contract’. This amendment requires to take into consideration the impairment loss on all the assets whose cost will be considered in assessing the contract is onerous. |
| IFRS 3 ‘Business Combinations’ | In March, 2018, IASB revised Conceptual Framework for Financial Reporting.
The amendments made in IFRS 3 is due to change in reference to Conceptual Framework without change in the accounting requirements for business combinations. Due to revision in the Conceptual Framework, there were certain accounting implications to contingent liabilities and levies within the scope of IAS 37 and IFRIC 21 ‘Levies’. As per it, the assets and liabilities in a business combination are recognised if they meet the definition of an asset or liability as per the Conceptual Framework. The timing of recognition of a levy may sometimes be different due to specific guidance given in IFRIC 21. Therefore, while recognizing levies at the acquisition date, an acquirer might recognise at the acquisition date a liability to pay a levy that it would not recognise subsequently when applying Appendix C ‘Levies’. This difference would arise because an entity might recognise a liability earlier by applying the Conceptual Framework. This liability would be derecognized immediately afterwards when principles of IFRIC 21 are applied. Therefore, to resolve this implication, IFRS 3 has been amended with regards to recognition exception for contingent liabilities and levies by inserting para 21A to 21C. An exception has been added to the requirements of para 11 of IFRS 3 for liabilities and contingent liabilities that would be within the scope of IAS 37 or IFRIC 21 if incurred separately, rather than assumed in a business combination. Further, IFRS 3 prohibited the recognition of contingent assets even prior to the amendments. However, prohibition was not stated explicitly in IFRS 3 itself. Therefore, para 23A has been inserted in IFRS 3 to explicitly prohibit recognition of contingent asset. |
| IFRS 1 ‘First Time Adoption of International Financial Reporting Standards’ |
Para D13 of IFRS 1 provides an exemption to a first-time adopter of IFRS with regard to cumulative translation differences on the date of transition to IFRS. According to it, first time adopter of IFRS are permitted to deem all cumulative translation differences for all foreign operations to be zero on the date of transition to IFRS.
Para D13A has been inserted in IFRS 1 which removes the conflict between the requirements of paragraph D16(a) of IFRS 1 which provides exemption where a subsidiary adopts IFRS later than its parents and the exemptions on cumulative translation differences at the carrying amount included in the parent’s consolidated financial statements. Similar exemption is available to joint venture and an associate that uses the exemption in para D16(a) of IFRS 1. Para D16(a) of IFRS |
| IFRS 9 ‘Financial Instruments’ | As per IFRS 9, a financial liability is derecognised when it is extinguished, which includes exchange between an existing borrower and lender due to different or substantial modification in terms of the contract.
Further, IFRS 9 clarified that terms are considered to have been substantially modified when the net present value of the cash flows under the new terms (including any fees paid net of any fees received) and discounted using the original EIR differs by atleast 10% from the present value of the remaining cash flows under the original terms. Earlier what is to be included in the fees paid and fees received was not mentioned in the standard. Now the amendment has been made by substituting para B3.3.6 and inserting para B3.3.6A in IFRS 9 which clarify that the fees paid (for the above purpose) includes amount paid by the borrower to or on behalf of the lender and fees received includes fees amounts paid by the lender to or on behalf of the borrower. |
| IAS 41 ‘Agriculture’ | Earlier para 22 of IAS 41 prescribed certain cash flows that would not be considered for the purpose of assessing the fair values.
Out of those cash flows, the amendment deleted the cash flows for taxation from the exclusion list for measurement of fair value. This implies that tax cash flows must be included in the fair value measurement of biological assets as per IAS 41. |
Paper 6F: Multidisciplinary Case Study
The Multi-disciplinary case study would involve application of two or more of the seven core subjects at the Final level. List of seven core subjects at final level is given as under:
| Final Paper |
| Paper 1: Financial Reporting |
| Paper 2: Strategic Financial Management |
| Paper 3: Advanced Auditing and Professional Ethics |
| Paper 4: Corporate and Economic Laws |
| Paper 5: Strategic Cost Management and Performance Evaluation |
| Paper 7: Direct Tax Laws & International Taxation |
| Paper 8: Indirect Tax Laws |
Note: The applicability/ non-applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for Paper 6F: Multidisciplinary Case Study for May, 2023 Examination would be same as applicable for each of the above individual papers.
Paper 7 : Direct Tax Laws and International Taxation
Applicability of Finance Act, Assessment Year etc. for May, 2023 Examination
The provisions of direct tax laws, as amended by the Finance Act, 2022 including significant notifications, circulars and press releases issued up to 31st October, 2022, are applicable for May, 2023 examination. The relevant assessment year is A.Y.2023-24.
The October, 2021 edition of the Study Material contains the provisions of direct tax laws [Modules 1, 2 and 3] and international taxation [Module 4]. The same has to be read along with the Supplementary Study Paper -2022 containing the amendments made by the Finance Act, 2022 and notifications and circulars issued between 1.11.2021 and 31.10.2022 and the Judicial update for May, 2023 examination.
Scope of coverage of certain topics in Part II: International Taxation
As regards certain topics on International Taxation, namely, Overview of Model Tax Conventions, Application & Interpretation of Tax Treaties and Fundamentals of Base Erosion and Profit Shifting, the specific content as covered in the October, 2021 edition of the Study Material and Supplementary Study Paper – 2022 would be relevant for May, 2023 Examination.
Paper 8 : Indirect Tax Laws
The following are applicable for May 2023 examination:
(i) The provisions of the CGST Act, 2017 and IGST Act, 2017 as amended by the Finance Act, 2022 including
significant notifications and circulars issued and other legislative amendments made, up to 31st October, 2022.
(ii) The provisions of the Customs Act, 1962 and the Customs Tariff Act, 1975, as amended by the Finance Act, 2022, including significant notifications and circulars issued and other legislative amendments made, up to 31st October, 2022.
The Study Guidelines given below specify the exclusions from the syllabus for May 2023 examination.
List of topic-wise exclusions from the syllabus
| (1) | (2) | (3) |
| S.No. in the syllabus |
Topics of the syllabus | Exclusions
(Provisions which are excluded from the |
| Part-I: Goods and Services Tax | ||
| 1(ii) | Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in (i) territorial waters; Charge of tax including reverse charge; Exemption from tax; Composition levy | (i) Rate of tax prescribed for supply of goods*
(ii) Rate of tax prescribed for supply of services* (iii) Exemptions for supply of goods Categories of supply of goods, tax on which is payable on reverse charge basis |
| 1(iv) | Time and Value of supply | Value of supply in cases where Kerala Flood Cess is applicable. |
| 1(v) | Input tax credit | Manner of determination of input tax credit in respect of inputs, input services and capital goods and reversal thereof in respect of real estate projects Manner of reversal of credit of additional duty of customs in respect of Gold dore bar |
| 1(xv) | Other provisions | Transitional Provisions |
| Part-II: Customs & FTP | ||
| 1 .(v) | Officers of Customs; Appointment of customs ports, airports etc. | Completely excluded |
| 1.(vii) | Provisions relating to coastal goods and vessels carrying coastal goods | |
| 1 .(x) | Demand and Recovery | |
| 1 .(xi) | Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/ exportation of goods | |
| 1 .(xii) | Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution | |
| 1 .(xiii) | Appeals and Revision; Advance Rulings; Settlement Commission | |
| 1 .(xiv) | Other provisions | |
*Rates specified for computing the tax payable under composition levy are included in the syllabus. Notes:
(1) The amendments made by the Annual Union Finance Acts in the CGST Act, 2017 and IGST Act, 2017 are made effective from the date notified subsequently. Thus, only those amendments made by the relevant Finance Acts which have become effective till 31.10.2022 are applicable for May, 2023 examinations. Accordingly, the amendments made by the Finance Act, 2022 are applicable for May 2023 examinations.
However, it may be noted that amendment made by the Finance Act, 2021 in section 16 of the IGST Act, 2017 and amendments made by the Finance (No. 2) Act, 2019 in sections 2(4), 95, 102, 103, 104, 105 and 106 of the CGST Act, 2017 and the insertion of new sections 101A, 101B & 101C in the CGST Act, 2017, have not become effective till 31.10.2022 and thus, are not applicable for May 2023 examinations.
(2) In the above table, in respect of the topics of the syllabus specified in column (2) the related exclusion is given in column (3). Where an exclusion has been so specified in any topic of the syllabus, the provisions corresponding to such exclusions, covered in other topic(s) forming part of the syllabus, shall also be excluded.
(3) October 2021 edition of the Study Material read with Supplementary Study Paper for May 2023 examination are relevant for said examination. The amendments in the GST law and in the customs law and FTP – made after the issuance of the Study Material – to the extent covered in the Supplementary Study Paper for May 2023 examination alone shall be relevant for the said examination.
(4) The entire content included in the October 2021 edition of the Study Material (except the exclusions mentioned herein) and the Supplementary Study Paper for May 2023 examination shall be relevant for the said examination.
