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chartered accountants

Leveraging Cash Burn Audit for Chartered Accountants

CA, CS, CMA - Cash burn audit is a vital tool for post-investment activities in India and can be used to analyze the financial performance of companies and investors both before and after investment. This form of audit helps evaluate the potential risks and rewards associated with investments, as well as providing insight into exit strategies. Chartere...

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CA or CS course

CA, CS, CMA - We have highlighted the key difference between the CA and CS profession, as well as some questions answered in the FAQ form. The CA and CS are two distinct professions that offer legal and financial services to companies and other organizations. These are the main differences between CAs and CS’s Qualifications and training CA̵...

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ICAI has suo moto powers to initiate disciplinary actions against CAs without written complaint

CA, CS, CMA - HC held that ICAI can exercise Suo Moto powers and initiate disciplinary proceedings against its member Chartered Accountants without a written complaint....

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Key Takeaways to master the process of CA Journey

CA, CS, CMA - Greetings to all. Undoubtedly, CA is one of the most high end profession of the country. Certainly, not easy. But definitely, possible and manageable to do if done in the right manner. So here are some important takeaways to master this process of  adding the prefix “CA” :- Commitment and Desire – commitment to your […]...

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Importance of Time Management for Chartered Accountants

CA, CS, CMA - The Value of 1 Year, Ask A School Student Who Failed in a Class. The Value Of 6 months, Ask A CA Student Who Failed in one subject. The Value Of 1 Month, Ask A Mother Who Gave Birth To A Premature Baby. The Value Of 1 day, Ask a  CA filing return for Tax […]...

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ICAI President’s Message – February 2023

CA, CS, CMA - As we approach the conclusion of the Council year 2022-23, this is my last communication in the journal as the President of the Institute. I am really mesmerized by the strength of the profession, its pursuit of continuous growth, working steadfastly to inspire trust and confidence amongst stakeholders....

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Expression of Interest for Initial Empanelment of Social Auditors

CA, CS, CMA - INSTITUTE OF SOCIAL AUDITORS OF INDIA COMPANY LIMITED BY SHARES NOR FOR PROFIT U/S 8 OF THE COMPANIES ACT, 2013 Head Office : ICAI Tower, Plot No. C-40, G Block, Opp. MCA Academy, Besides Standard Chartered Bank, Bandra Kurla Complex, Bandra (East) Mumbai – 400051. EXPRESSION OF INTEREST FOR INITIAL EMPANELMENT OF SOCIAL AUDITORS...

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SSAE 3000 – Assurance Engagements on Sustainability Information

CA, CS, CMA - Sustainability Reporting Standards Board (SRSB) issues this Standard on Sustainability Assurance Engagements (SSAE) 3000, Assurance Engagements on Sustainability Information....

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ICAI announces dates for CA Foundation, Intermediate & Final Examinations

CA, CS, CMA - ICAI announce that next Chartered Accountants Foundation, Intermediate and Final Examinations will be held on the dates and places which are given below provided that sufficient number of candidates offer themselves to appear from each of the below mentioned places....

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CA Final & Intermediate November 2022 exam Pass percentage & Toppers

CA, CS, CMA - RESULT OF CHARTERED ACCOUNTANTS FINAL EXAMINATION HELD IN NOVEMBER – 2022 The result of the Chartered Accountants Final Examination was declared recently. The details of percentage of candidates passed in the above said examinations are given below: Group(s) No. of candidates appeared No. of candidates passed % of pass I Group— I ...

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Criminal proceedings cannot continue on CA in absence of any personal interest in conduct of business

Kulamani Parida Vs State of Odisha (Orissa High Court) - Orissa High Court held that No Objection Certificate certified by the Chartered Accountant is the act of discharging his professional duty No criminal proceedings can be continued in absence of material showing personal interest in any gain/ loss of the parties conducting business....

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GST ITC refund Scam: HC grants Bail to Gurugram CA

Gaurav Dhir Vs Central Goods and Services Tax (Punjab and Haryana High Court) - In the present case, he had been paid professional fee for uploading of the refund of Input Tax Credit. The petitioner and his co-accused Sunil Mahalawat were colleagues, as such the UDIN was borrowed by the petitioner from him for uploading and issuance of the CA certificate....

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Rule 12 of CA rules not debar Director of Discipline from entertaining 7 year old complaint

Ashish Agarwal Vs Institute of Chartered Accountant of India (Delhi High Court) - Held that rule 12 Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 does not expressly debar the Director Discipline from entertaining a complaint merely because it may relate to acts of misconduct committed seven years prior to...

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Corruption Charges against CA based on retracted confessional statement untenable

Vinod Kumar Kila Vs CBI (Delhi High Court) - Held that record doesn’t disclose any independent material, accordingly charges under the Prevention of Corruption Act cannot be confirmed merely on the basis of the retracted confessional statement....

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Bhushan Steel Stock Audit Negligence case : Another CA gets Bail

Pankaj Mahajan Vs Serious Fraud Investigation Office (Delhi High Court) - Pankaj Mahajan Vs Serious Fraud Investigation Office (Delhi High Court) The role of the petitioner a practicing Chartered Accountant is that of the Stock Auditor wherein the Stock verifications of the documents and statements as submitted by the Company to the Banks was carried out by the accused. T...

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ICAI removes name of 10 Members with effect from 16th December, 2022

Notification No. PR/91/14/DD/118/14/DC/469/2016, No. PPR/P/63/16/DD/32/INF/16/DC/1290/2020, No. PR/211/12/DD/104/13/DC/454/16, No. PR/76/14/DD/96/14/DC/554/17, No. PPR/NP/76/18/DD/204/INF/18/DC/1375/2020, No. PPR/P/191/17/DD/175/TAMC/INF/17/DC/1111/2019, No. PPR/P/81/16/DD/62/INF/16/DC/1073/2019, No. PR/G/266/17/DD/232/17/DC/1248/2019, No. PR/G/26/18/DD/49/18/DC/1142/2019, No. PPR/P/121/17/DD/105/TAMC/INF/17/DC/1306/2020 - (16/12/2022) - ICAI removes name of 10 Members with effect from 16th December, 2022 In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Case...

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ICAI removes name of 12 Members for Professional & Other Misconduct

Notification No. PPR/P/30/W/13/DD/36/INF/2015/DC/701/2017 and 11 other notifications - (11/11/2022) - ICAI removes name of 12 Members for Professional & Other Misconduct vide various notifications issued on 11th November, 2022 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 11th November, 2022 (CHARTERED ACCOUNTANTS) No. PPR/P/30/W/13/...

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NFRA debars CA from practice for 5 years & imposes penalty of Rs. 5 lakh

Order No. NF-23/30/2021 - (19/09/2022) - NFRA imposes monetary penalty of Rs Five Lakhs upon CA Rajiv Bengal In addition he is debarred for Five years from being appointed as an auditor or internal auditor or from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or bo...

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CA Banned for 3 years by NFRA and imposes penalty for lapses in Audit

NFRA Order No. NF-23/46/2021 - (12/09/2022) - The primary function of the Auditor in the present case was to ensure compliance with SAs to achieve the necessary audit quality to lend credibility to financial statements and facilitate its users. A critical, questioning attitude, an unwillingness to be satisfied by superficial explanations, not c...

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ICAI removes name of 4 members for Professional Misconduct

F. No. PR/115/15-DD/140/15/DC/678/2017, F. No. PR/219/18/DD/237/18/BOD/518/2019, F. No. PR/180/15/DD/172/15/BOD/235/2016, F. No. PPR/P/341/2017/DD/328/INF/2017/BOD/491/2018 - (04/08/2022) - ICAI vide Notifications dated 4th August, 2022 notified removal of name of 4 Chartered Accountants from the Register of Members for a period ranging from 15 days to 5 years. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 4th August, 2022 ...

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Recent Posts in "chartered accountants"

ICAI President’s Message – February 2023

As we approach the conclusion of the Council year 2022-23, this is my last communication in the journal as the President of the Institute. I am really mesmerized by the strength of the profession, its pursuit of continuous growth, working steadfastly to inspire trust and confidence amongst stakeholders....

Read More
Posted Under: Income Tax |

Leveraging Cash Burn Audit for Chartered Accountants

Cash burn audit is a vital tool for post-investment activities in India and can be used to analyze the financial performance of companies and investors both before and after investment. This form of audit helps evaluate the potential risks and rewards associated with investments, as well as providing insight into exit strategies. Chartere...

Read More
Posted Under: Income Tax |

Expression of Interest for Initial Empanelment of Social Auditors

INSTITUTE OF SOCIAL AUDITORS OF INDIA COMPANY LIMITED BY SHARES NOR FOR PROFIT U/S 8 OF THE COMPANIES ACT, 2013 Head Office : ICAI Tower, Plot No. C-40, G Block, Opp. MCA Academy, Besides Standard Chartered Bank, Bandra Kurla Complex, Bandra (East) Mumbai – 400051. EXPRESSION OF INTEREST FOR INITIAL EMPANELMENT OF SOCIAL AUDITORS...

Read More
Posted Under: Income Tax |

SSAE 3000 – Assurance Engagements on Sustainability Information

Sustainability Reporting Standards Board (SRSB) issues this Standard on Sustainability Assurance Engagements (SSAE) 3000, Assurance Engagements on Sustainability Information....

Read More
Posted Under: Income Tax |

ICAI announces dates for CA Foundation, Intermediate & Final Examinations

ICAI announce that next Chartered Accountants Foundation, Intermediate and Final Examinations will be held on the dates and places which are given below provided that sufficient number of candidates offer themselves to appear from each of the below mentioned places....

Read More
Posted Under: Income Tax |

CA Final & Intermediate November 2022 exam Pass percentage & Toppers

RESULT OF CHARTERED ACCOUNTANTS FINAL EXAMINATION HELD IN NOVEMBER – 2022 The result of the Chartered Accountants Final Examination was declared recently. The details of percentage of candidates passed in the above said examinations are given below: Group(s) No. of candidates appeared No. of candidates passed % of pass I Group— I ...

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Posted Under: Income Tax | ,

ICAI President’s Message – January 2023

ICAI being a prominent and world class educational institution actively works towards expanding the ecosystem for development of Commerce education in the country and to attract the best talent to the profession through Career Counselling, as also build the capacity and competency of the CA students through various interactive initiatives...

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Posted Under: Income Tax |

AIFTP requests Early disposal of Income-tax appeals pending before CIT(A)/NFAC

AIFTP appeal to Smt. Nirmala Sitharaman (Finance Minister) to direct the CBDT to direct the NFAC to hear the appeals expeditiously and effectively so that the tax payers will be able to get the finality on the tax dispute at the earliest. Also, considering the huge quantum of pendency, CBDT may be directed to frame […]...

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Posted Under: Income Tax | ,

Bank Branch Auditors’ Draft Panel of CAs/firms for 2022-23

We are pleased to inform that the Draft Bank Branch Auditors’ Panel (MEF) of Chartered Accountants/firms for the year 2021-22 has been hosted at www.meficai.org...

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Posted Under: Income Tax | ,

CA or CS course

We have highlighted the key difference between the CA and CS profession, as well as some questions answered in the FAQ form. The CA and CS are two distinct professions that offer legal and financial services to companies and other organizations. These are the main differences between CAs and CS’s Qualifications and training CA̵...

Read More
Posted Under: Income Tax |

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