Goods and Services Tax : ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory time...
CA, CS, CMA : The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified wh...
CA, CS, CMA : Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, hi...
Company Law : The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially weakenin...
Corporate Law : The Bar Council of India has officially confirmed that the IGNOU-ICAI B.Com (Accountancy & Finance) degree meets all eligibility c...
CA, CS, CMA : ICAI has announced Live Virtual Revisionary Classes for CA Intermediate students appearing in the September 2026 examinations. The...
CA, CS, CMA : ICAI's Board of Studies has invited Expressions of Interest from qualified professionals and academicians for empanelment as facul...
CA, CS, CMA : ICAI has notified the Information Systems Audit (ISA) Assessment Test for 25 July 2026 in CBT mode. The announcement specifies eli...
CA, CS, CMA : ICAI has clarified that members coaching students or having relatives appearing in the examinations are not eligible for Observer ...
CA, CS, CMA : The Sales Tax Bar Association requested reconsideration of Bar Council of India rules prohibiting advocates from entering partners...
CA, CS, CMA : The Delhi High Court held that one of the meetings relied upon for automatic vacation of the petitioner’s seat was convened with...
CA, CS, CMA : The Court examined whether a complaint arising from a family dispute can be entertained in misconduct proceedings. It held that su...
CA, CS, CMA : The High Court held that a direct appellate challenge to the final removal order was not maintainable. The appeal was withdrawn wi...
CA, CS, CMA : The court affirmed disciplinary action where an auditor failed to detect ever-greening of assets and misreporting in audit account...
Income Tax : The ITAT Delhi has deleted a ₹25,000 penalty under Section 271A, ruling that F&O turnover for a trader should be calculated base...
CA, CS, CMA : ICAI notifies removal of 12 chartered accountants from membership rolls, with suspension periods, fines, and reprimands in select ...
CA, CS, CMA : ICAI Board holds CA not guilty in bribery case, finds no proof of knowledge or intent; mere receipt of packet without mens rea not...
CA, CS, CMA : The issue involved allegations of assisting in bogus accounting entries. The ruling held that without certification or statutory r...
CA, CS, CMA : The issue involved disciplinary action for professional and other misconduct under the Chartered Accountants Act. The authorities ...
Corporate Law : The amended guidelines mandate minimum CPE hours for all practicing members. Non-compliance will lead to discontinuation of the Ce...
Price Waterhouse auditor S. Gopalakrishnan and Satyam’s former internal audit head V.S. Prabhakar Gupta are accused of conniving with B. Ramalinga Raju, the software company’s founder, in the Rs7,136 crore fraud that came to light in January 2008.
Companies may have to provide detailed information including details of financial assets, the complete list of shareholders and directors to the Institute of Chartered Accountants of India (ICAI) if the government accepts the amendments to Chartered Accountants (CA) Act 1949 suggested by the institute.
“The tender process for auditing social sector schemes has led to deterioration in the quality of audit. Audit firms quote too low a price for procuring the auditing work of such schemes. However, low prices certainly are a cause of concern for us keeping in mind that the actual cost of such audits is higher,” Chopra said while expressing concern over the social sector audit in the country. He said that the institute would probe the reasons why audit firms quote such low prices in the tenders.
The government is mulling a comprehensive code of conduct for financial analysts and investment bankers to make them more accountable to the companies and retail investors they serve. A proposal in this regard from a high-powered committee of Institute of Chartered Accountants of India (ICAI) that investigated the financial scandal at the erstwhile Satyam Computer Services is under the consideration of the ministry of corporate affairs.
The Institute of Chartered Accountants of India (ICAI) has unearthed cases of financial statements and audit reports of certain companies with forged signatures of auditors, sparking off fear of a larger menace that may have hit the country’s auditing fraternity.
The second session of Common Proficiency Test (CPT) disappointed the students in subjects like quantitative aptitude (QA) which includes maths, statistics and economics. Unexpected objective questions on maths and statistics theory left them disappointed. Those who prepared from selected chapters found questions tough.
Breach of Regulations 65 & 78 – Non submission of Form 112 – (19-06-2010).Further to our announcement dated 08th January, 2010, the appropriate Committee of the Institute in its recent meeting in view of the difficulties being faced by students decided that the following course of action be adopted for dealing with the cases of condonation of Regulation 65 w.e.f. 1st April 2010:-
THE Institute of Chartered Accountants of India (ICAI) has opposed State Bank of India’s (SBI) decision to appoint a single audit firm for its tax audit for the current fiscal, a move which it says could compromise its quality of audit as opposed to the bank’s present practice of getting the work done by multiple firms. The ICAI, which earlier approached SBI’s top management raising its objection on the issue but did not got a favourable response, is now planning to approach the Reserve Bank of India as it fears that the move could see other banks following suit. “
If you are a Mahindra Satyam investor and eagerly awaiting their results by the end of this month then you may have to wait a bit longer. Mahindra Satyam has applied to the Company Law Board seeking an extension for financial restatement till September 30.
In continuation of announcement dated February 23, 2010, we wish to bring to the notice of IPCC/ ATC examinees who have appeared in May, 2010 examination but not yet registered for 35 hours Orientation Programme and 100 hours Information Technology Training (ITT) and unable to complete both the requirements latest by 10th July, 2010
