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Online CPT Examination: A milestone for ICAI

Online CPT examination became a reality this year for aspiring CA students. Under the system, they had questions that test their knowledge and intelligence, appearing on computer screens at the click of a mouse.   This is going to be the future of the examination system in the Institute. The Institute is ushering in a revolution [&helli...

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Posted Under: CA, CS, CMA |

ICSI issued Guidelines for issuing Compliance Certificate and Signing Annual Return

Guidelines for issuing Compliance Certificate and Signing Annual Return  In exercise of the powers conferred by Clause (1) of Part II of the Second Schedule to the Company Secretaries Act, 1980 (56 of 1980), as amended by the Company Secretaries (Amendment) Act, 2006, the Council of the Institute of Company Secretaries of India hereby is...

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Posted Under: CA, CS, CMA |

Fraud detection cell of ICAI to be operational by July 2009

ICAI expect its fraud detection cell to come into operation by July 2009, to handle cases like the `Satyam case’, said Uttam Prakash Agarwal, ICAI President. The cell would crack large financial fraud cases and help agencies like Securities and Exchange Board of India and Reserve Bank of India. The cell’s objective would be to...

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Posted Under: CA, CS, CMA |

Empanelment of firms of Chartered Accountants with National Highways Authority of India

Expression of interest from firms of Chartered Accountants for inclusion of their names to the existing panel of Statutory Auditors / Additional Auditor/ Concurrent Auditor for  BOT/BOT (Annuity) Projects of NHAI (based upon new MCA) in various States of India.  National Highways Authority of India (NHAI) awards concessions for Highways...

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Posted Under: CA, CS, CMA |

ICAI relaxes rule for appointment of internal auditors as tax auditors

Accounting regulator ICAI today issued a clarification saying that internal auditors appointed as tax auditors can continue to do their work if their selection for the job took place before December 12 last year. The Institute of Chartered Accountants of India decided that with effect from December 12 last year internal auditors cannot be...

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Posted Under: CA, CS, CMA |

SFIO may soon get nod initiate prosecution in Satyam case

The government is likely to soon give its nod to the Serious Fraud Investigation Office (SFIO) for initiating prosecution against the persons involved in the Rs 7,800 crore-accounting fraud at Satyam Computer Services. The ministry of corporate affairs is in consultation with the law ministry and will take a decision on filing cases in t...

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Posted Under: CA, CS, CMA |

ICAI planning specific accounting standards for insurance sector

The accounting regulator the Institute of Chartered Accountants of India (ICAI) has constituted an expert group to suggest sector-specific accounting norms for insurance companies. The move aims at ensuring that financial statements of insurance firms reflect true natures of financial arrangements. ICAI president Uttam Prakash Agarwal con...

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Posted Under: Finance |

ICAI committee to submit its report by June in respect of Satyam fraud

The high-level committee set up to look at the multi-crore rupee fraud at Satyam Computer by the Institute of Chartered Accountants of India is close to coming out with its recommendatations by June. “The high-level committee set up to look into matters arising out of Satyam fraud is carrying out deliberations and is likely to [&hel...

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Posted Under: CA, CS, CMA |

New Training Structure for the students of CS Course

To, The Chairmen/Executive Officers All the Regional Councils & Chapters of ICSI The Council of the Institute in its 183rd meeting held on 8th-9th November, 2008 has approved the new training structure as under.   I.       Duration of training  It was decided that the present period of training of 15 Months may be continued...

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Posted Under: CA, CS, CMA |

ICAI raised doubt on accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and the Central Bank of India

The Institute of Chartered Accountants of India (ICAI) has raised apprehensions about the accuracy of the audited financial statements of Allahabad Bank, Vijaya Bank and the Central Bank of India, saying the statutory auditors were under pressure from these banks to complete the audits within unreasonable deadlines. The accounting rule-ma...

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Posted Under: CA, CS, CMA |