CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...
CA, CS, CMA : Delve into the CRB Scam case study of 1996, exposing loopholes exploited by Bhansali, implications on public funds, and the vital ...
CA, CS, CMA : Discover how SQC-1 enhances your firm's quality control, ensuring compliance and boosting credibility. Unlock your full potential ...
CA, CS, CMA : Discover the Supreme Court's ruling on ICAI's 60 tax audits limit per Chartered Accountant, its implications, and future impact on...
CA, CS, CMA : Analysis of ICAIs disciplinary action against EY India affiliates for professional misconduct, implications, and insights into reg...
CA, CS, CMA : ICAI announces the extended deadline to 10th September 2023 for online empanelment of members as observers for the Nov/Dec 2023 CA...
CA, CS, CMA : CMA Santosh Pant elected Chairman of Northern India Regional Council of ICMAI for 2024-25. Key members include CMA Satya Narayan M...
CA, CS, CMA : ICAI President's August 2024 message highlights India's economic growth, recent exam results, and the Union Budget's role in achie...
CA, CS, CMA : ICAI schedules Advanced ICITSS - Adv. IT Test in CBT mode for August and September 2024. Check eligibility, test dates, applicatio...
CA, CS, CMA : ICAI has declared the CA Foundation June 2024 results. With 91,900 candidates and a 14.96% pass rate, find detailed results and an...
CA, CS, CMA : Delhi High Court rules that ICAI can hold entire CA firms accountable for misconduct, even if individual guilt isn't found. Full j...
Income Tax : Explore the detailed analysis of P. A. Jose Vs Union of India judgment by Kerala High Court regarding the valuation methodology fo...
CA, CS, CMA : Despite concerns over elections, Delhi High Court rejects plea to delay CA exams. Detailed analysis of the judgment provided....
CA, CS, CMA : Delhi High Court ruling upholds disqualification of bid by Sunshine Caterers in IRCTC tender due to non-mention of certified infor...
Income Tax : In the case of Cavalcade Properties Pvt. Ltd. vs. DCIT, ITAT mandates re-evaluation of advances against flat bookings, challenging...
CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...
Company Law : Explore NFRA's order under Companies Act 2013 on CA Krishna Bihari Chaturvedi for audit misconduct at DHFL branches in FY 2017-18....
CA, CS, CMA : Explore the detailed analysis of a professional misconduct case under the Chartered Accountants Act 1949. Learn about findings, ch...
CA, CS, CMA : Explore the ICAI Board of Discipline's ruling on an audit dispute where the respondent's communication via registered post was dee...
CA, CS, CMA : The ICAI's Board of Discipline reprimanded CA Devarajan K.E. for misconduct, following an investigation into professional and othe...
The ICAI had issued a Guidance Note on Accounting for Real Estate Transactions (for entities to whom Ind AS is applicable), in May 2016, applicable to all projects in real estate by entities to whom Ind AS were applicable. The aforementioned Guidance Note is based on principles of Ind AS 11, Construction Contracts and Ind AS 18, Revenue. On issuance of Ind AS 115,
Within ICAI too, governance matters are always our top priority, and technology is the best way to manage, resolve and dealing with the issues of a large group like our membership and students. To effectively manage the education & training and other professional requirements of our huge membership and other stakeholders, ICAI has about 70 Committees, Groups and Departments that work thereat.
Notification No 23/2018, dated 20 May, 2018 amending Rule 11UA omitting reference to term accountant, thereby making Chartered Accountants ineligible to determine the FMV of unquoted equity shares as per the Discounted Free Cash Flow Method
Press Release ICAI issues Accounting Standard for Local Bodies The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005 to improve financial reporting for local bodies. So far, the Committee has issued thirteen ASLBs including one cash based ASLB that will facilitate transitioning from cash […]
Institute of Cost Accountants of India has submitted suggestions on New Direct Tax Law on 23rd May 2018 to Finance Minister Shri Piyush Goyal and suggested Inclusion Of Cost Accountants Under The Definition Of Accountant U/S 288(2) Of Income Tax Act, 1961.
Chartered Accountants play a vital role in the financial health of an economy. CAs constitute the first layer of vigil mechanism for corporate, Government Institutions, Banking sector and various other constituents in sustaining financial system so that the financial status of a particular Institution is revealed to the public, investors who invest their hard earn savings.
To clarify the implementation issues, the Auditing and Assurance Standards Board of ICAI, hereby issues the following FAQs on SA 570(Revised) based on the queries received from the members:
Planning the Internal Audit Assignment involves the following key elements:(a) It is a sub-set of the Overall Internal Audit Plan;(b) It is undertaken prior to the beginning of a particular assignment during the course of the plan period;
The objectives of an Overall Internal Audit (Engagement) Plan are to:(a) ensure that the planned internal audits are in line with the objectives of the internal audit function (and terms of engagement, where it is an outsourced engagement), as per the internal audit charter of the entity and also in line with the overall objectives of the organisation;
IASB of ICAI invites comments on a revised Standard on Internal Audit (SIA) 000 – Internal Audit Evidence. Comments are most helpful if they indicate a clear rationale and, where applicable, provide a suggestion for alternative wording.
