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Pearson booked for cheating 50 clients of Rs. 7.40 cr is not a CA: ICAI

The content of the news item mentions about the Chartered Accountant who allegedly cheated his clients on the pretext of depositing service tax and pocketed Rs. 7.40cr by issuing fake challans....

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Posted Under: CA, CS, CMA |

ICAI constitutes High Power Group on IL&FS

ICAI Press Release Constitution of High Power Group on Infrastructure Leasing & Financial Services Limited (IL&FS) In the recent past, there have been news reports regarding diversion of loan money in IL&FS and its subsidiary companies. The Disciplinary Directorate of the Institute of Chartered Accountants of India (ICAI), upo...

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Posted Under: CA, CS, CMA |

Mandatory Usage of UDIN by CAs w.e.f. 01.01.2019 to prevent forgery

ICAI, as the regulator of accountancy profession, as a proactive step, has introduced Unique Document Identification Number (UDIN) and it will be mandatory for all practicing Chartered Accountants w.e.f. 1st January, 2019 to register all certificates issued by them with UDIN portal which can be verified by users/stakeholders....

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Posted Under: CA, CS, CMA |

Accounting Standard (AS) 40, Investments property- Draft

Accounting Standard (AS) 40, Investments property shall be applied in the recognition, measurement and disclosure of investment property....

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Posted Under: CA, CS, CMA |

RFP for Due Diligence of Bank of Baroda, Dena Bank and Vijaya Bank

REQUEST FOR PROPOSAL (RFP) FOR FINANCIAL AND TAX DUE DILIGENCE OF BANK OF BARODA, DENA BANK AND VIJAYA BANK FOR THE PROPOSED AMALGAMATION OF BANK OF BARODA, DENA BANK AND VIJAYA BANK We invite request for proposals from Chartered Accountant Firms/Groups for conducting financial and tax due diligence of Bank of Baroda, Dena Bank and [&hell...

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Posted Under: CA, CS, CMA |

ICAI: List of Valid Nominations for Central and Regional Council

List of Valid Nomination of candidates for election to the Twenty Fourth Council and Twenty Third Regional Councils has been sent to each candidate whose nomination has been accepted by the Panel of Scrutiny vide letter dated 9th October, 2018...

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Posted Under: CA, CS, CMA |

Registration for Practical Training Assessment Tests for CA Students

Registration for Practical Training Assessment Tests The Council has decided to assess students after completion of first and second year of practical training with online MCQ based tests. The students completing their 1st/ 2nd year of practical training in a particular quarter of a year would be eligible to register for the said test in ...

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Posted Under: CA, CS, CMA |

ICAI Code of Ethics, 2018 -Exposure Draft

D.O.No. 6(3)319/2017-LC(LS) (30/08/2018)

This ICAI Code of Ethics is applicable from 1 April, 2019. Where guidance contained in this Code relates to engagements commencing prior to that date, previous guidance may be applied up to completion of the said engagements. Transitional arrangements are available in respect of specific sections of this Code....

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Posted Under: CA, CS, CMA |

Exposure Draft Accounting Standard (AS) 38 Intangible Assets

The objective of Exposure Draft Accounting Standard (AS) 38 Intangible Assets is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard. This Standard requires an entity to recognise an intangible asset if, and only if, specified criteria are met....

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Posted Under: CA, CS, CMA |

ICAI President’s Message – October 2018

CA. Naveen N. D. Gupta My dear Professional Colleagues, October always reminds we Indians of Mahatma Gandhi, who was born on 2nd October in the year 1869. Freedom fighter and social reformer Gopal Krishna Gokhale, who devoted his life to the cause of education, had said: It is one of the privileges of my life that […]...

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Posted Under: CA, CS, CMA |