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Latest Articles


Ethical issues in Auditing

CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...

July 13, 2024 795 Views 0 comment Print

Case Study on Bhansali Scam

CA, CS, CMA : Delve into the CRB Scam case study of 1996, exposing loopholes exploited by Bhansali, implications on public funds, and the vital ...

June 7, 2024 2832 Views 0 comment Print

SQC-1 The key to unlocking your firm’s full potential

CA, CS, CMA : Discover how SQC-1 enhances your firm's quality control, ensuring compliance and boosting credibility. Unlock your full potential ...

May 29, 2024 1128 Views 0 comment Print

Supreme Court Upholds ICAI’s Limit of 60 Tax Audits per CA: Analysis

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...

May 23, 2024 11274 Views 0 comment Print

ICAI finds EY India and it’s Affiliate Entities Guilty of Professional Misconduct: Analysis

CA, CS, CMA : Analysis of ICAIs disciplinary action against EY India affiliates for professional misconduct, implications, and insights into reg...

April 29, 2024 20127 Views 1 comment Print


Latest News


ICAI extends last date to empanel as observers for exam

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...

August 13, 2024 5307 Views 0 comment Print

CMA Santosh Pant Elected NIRC Chairman for 2024-25

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...

August 5, 2024 258 Views 0 comment Print

ICAI President’s August 2024 Message: Exam Results & Economic Insights

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...

August 2, 2024 288 Views 0 comment Print

ICAI Announces Advanced ICITSS CBT Exam Dates

CA, CS, CMA : ICAI schedules Advanced ICITSS - Adv. IT Test in CBT mode for August and September 2024. Check eligibility, test dates, applicatio...

August 1, 2024 1317 Views 0 comment Print

ICAI CA Foundation June 2024 Results Declared – 14.96% Pass Rate

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...

July 30, 2024 2337 Views 0 comment Print


Latest Judiciary


ICAI can Proceed Against whole Firm if One Member cannot be held Responsible: HC

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...

July 10, 2024 4320 Views 0 comment Print

Same Methodology Must Be Applied for Valuing Opening & Closing Stock: Kerala HC

Income Tax : Explore the detailed analysis of P. A. Jose Vs Union of India judgment by Kerala High Court regarding the valuation methodology fo...

May 31, 2024 438 Views 0 comment Print

Delhi HC Dismisses Plea to Postpone CA Exams Amid Election Concerns

CA, CS, CMA : Despite concerns over elections, Delhi High Court rejects plea to delay CA exams. Detailed analysis of the judgment provided....

May 8, 2024 465 Views 0 comment Print

Delhi HC Upholds Bid Disqualification Over Missing Certified Information in UDIN Certificate

CA, CS, CMA : Delhi High Court ruling upholds disqualification of bid by Sunshine Caterers in IRCTC tender due to non-mention of certified infor...

April 10, 2024 786 Views 0 comment Print

Advance for Flats: Recognizing Revenue on Risk Transfer & Buyer’s Transfer Rights- ITAT

Income Tax : In the case of Cavalcade Properties Pvt. Ltd. vs. DCIT, ITAT mandates re-evaluation of advances against flat bookings, challenging...

March 22, 2024 993 Views 0 comment Print


Latest Notifications


Partnership Act 1932: Auditing Not Mandatory Before Sharing Firm Financials with legal heirs

CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...

July 12, 2024 756 Views 0 comment Print

Audit misconduct at DHFL branches: NFRA imposes one-year debarment & Penalty

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....

June 21, 2024 573 Views 0 comment Print

First Auditor not required to obtain NOC from Other Auditor: ICAI DC

CA, CS, CMA : Explore the detailed analysis of a professional misconduct case under the Chartered Accountants Act 1949. Learn about findings, ch...

June 12, 2024 1110 Views 0 comment Print

ICAI Finds Auditor Not Guilty: Audit Acceptance Communication Validated

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...

June 12, 2024 480 Views 0 comment Print

Falsified financial statement Preparation: ICAI found Member guilty of misconduct

CA, CS, CMA : The ICAI's Board of Discipline reprimanded CA Devarajan K.E. for misconduct, following an investigation into professional and othe...

June 12, 2024 483 Views 0 comment Print


FAQ on treatment of Securities Premium Account under Ind AS on transition date

April 18, 2017 13368 Views 1 comment Print

As the amount of Securities Premium Account had been utilised to provide for debenture redemption premium payable and to write off debenture issue expenses, what retrospective accounting adjustments in this regard are required to be done in the books under Ind AS on transition date.

Revised Ind AS Transition Facilitation Group Clarification Bulletin 5

April 17, 2017 4516 Views 0 comment Print

It may be noted that if an entity does not have an unconditional right to defer the settlement of a liability then, the same shall be classified as current liability. In the given case, although it is expected that most of the customers will not surrender their connection and the deposit need not be refunded, but surrendering of the connection is a condition that is not within the control of the entity.

How to Disclose Demonetised / SBN / Old notes in Audit Report with FAQs

April 16, 2017 39909 Views 0 comment Print

Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board

ICAI to take action against CA involved in money laundering

April 14, 2017 6414 Views 0 comment Print

Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies.

CA Intermediate & Final May 2017 Examination Admit Cards

April 7, 2017 1983 Views 0 comment Print

Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final May 2017 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org

New disclosure and reporting requirement in Auditor’s Report

April 3, 2017 10740 Views 1 comment Print

Regarding disclosure requirement and reporting requirement in the Auditor’s Report that the company has provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016. We would like to inform you that the Ministry of Corporate Affairs has […]

Applicability of SA 700, 701, 705, 706 deferred by one year to 01.04.2018

April 1, 2017 6864 Views 0 comment Print

SA 701 and Revised SAs 700, 705 & 706 be deferred by one year and consequently the said Standards shall now be effective/applicable for audits of financial statements for periods beginning on or after April 1, 2018 (

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 7

March 31, 2017 5148 Views 0 comment Print

Ind AS Transition Facilitation Group (ITFG) of Ind AS (IFRS) Implementation Committee has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and other stakeholders.

E-filing of Return termed invalid by CPC after 15 days of notice

March 31, 2017 10092 Views 0 comment Print

Income TAx Dept Enhances of E-Filing utility for filing return after expiry of 15 days of issuance of notice under section 139(9) as original return or belated return

GST to be applicable from May 2018 onwards for CA exams

March 31, 2017 1926 Views 0 comment Print

ICAI has decided that Goods and Services Tax (GST) will be examined in both Part II: Indirect Taxes of Paper 4: Taxation of Intermediate (IPC) Course and Paper 8: Indirect Tax Laws of Final Course from May, 2018 examination onwards.

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