CA Sandeep Kanoi

ICAI has vide its press release dated 10th September 2014 proposed amendments to The Chartered Accountants Regulations, 1988 vide Draft Chartered Accountants (Amendment) Regulations, 2014. Vide this it has proposed the  Amendments in Regulations 28E, 39, 48 and 204 of the Chartered Accountants Regulations, 1988.

We have Complied below the above regulation based on Proposed draft Amendments for understanding of Our Readers. Item marked in Red is Proposed Amendments and Items striked off are the regulation as exist as on date.

28E. Admission to [Intermediate (Integrated Professional Competence) Examination], Fees and Syllabus

(1) No candidate shall be admitted to [Intermediate (Integrated Professional Competence) Examination],unless:-

(b) he produces a certificate to the effect that he has undergone a study course, for a period not less than nine eight months, as may be specified by the Council for the relevant level(s), as on the first day of the month in which the examination is held, in the manner as may be specified by the Council from time to time; and

39. Examination results

(4)   [(i) Information as to whether a candidate’s answers in any particular paper or papers of any examination have been examined and marked shall be supplied to the candidate on his submitting within a month of the declaration of the result of the said examination, an application, accompanied by a fee as may be fixed by the Council which shall not exceed rupees five hundred  Rupees Two Thousand Five Hundred in any case.]

(iii) The marks obtained by a candidate in individual questions or in sections of a paper shall not be supplied.

Provided that where a candidate is required for the purpose of passing to obtain section-wise minimum prescribed marks, section-wise marks shall  be supplied.

New Regulation Proposed to be Inserted

39A. Inspection or supply of certified copy of evaluated answer book.

Inspection of an evaluated answer book or supply of a certified copy of an evaluated answer book or both in any particular paper or papers of any examination conducted under  these Regulations shall be made to a candidate, in accordance with the norms as may be decided by the Council from time to time, on his submitting an application, in such manner and within such time as may be decided by the Council, along with such fee as may be fixed by the Council which shall not exceed rupees five thousand  in the case of inspection of answer book and rupees eight thousand in case of supply of certified copy of evaluated answer book.

48. Stipend to articled assistants

[(1) Every principal engaging and training articled assistant or assistants, under regulation 43, shall pay every month to such assistant a minimum monthly stipend, at the rates specified in the Table below:

Table

Classification of thenormal place of service of the articled assistant During the first year of training During the secondyear of training During the remaining period of training
(1) (2) (3) (4)
(i) Cities/towns having apopulation    of  twenty
lakhs and above.
Rs.1000/-Rs. 2000/- Rs.1250/-Rs. 2500/- Rs.1500/-Rs. 3000/-
(ii) Cities/towns having  a population           of    four lakhs and          above  but less      than     twenty
lakhs.
Rs.750/-Rs. 1500/- Rs.1000/-Rs. 2000/- Rs.1250/-Rs. 2500/-
(iii) Cities/towns having a population of less than four lakhs. Rs.500/-Rs. 1000/- Rs.750/-Rs. 1500/- Rs.1000/-Rs. 2000/-

204. Post-qualifying courses and examinations

The Council may impart or arrange to impart practical and/or theoretical training and hold examinations in such subjects as it may consider useful for members and may award certificate or diplomas in connection with the post qualification courses in Management Accountancy, Corporate Management, Tax Management, Information Systems Audit, Insurance and Risk Management, and International Trade Laws and World Trade Organisation  International Trade Laws and World Trade Organisation and International Taxation.

Read ICAI Draft Regulation on following link :-

http://220.227.161.86/34732notification24475.pdf

Author Bio

Qualification: CA in Practice
Company: Taxguru / Sandeep Kanoi & Associates
Location: Mumbai, Maharashtra, IN
Member Since: 27 Feb 2017 | Total Posts: 646
A Blogger by Passion and a Chartered Accountant by Profession. View Full Profile

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