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 The appeal was withdrawn wi...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...
Compilation of Suggested Answers is a subject-wise compilation of answers to questions set in the Institute’s examinations over a number of years. The compilation in the subject of “Advanced Accounting” covers a period of three years – May, 2007 to November, 2009 and contains compilation of suggested answers of six examinations.
The next Common Proficiency Test (CPT) of the Institute will be held on 20th June, 2010. The sale of Information Brochure cum Examination Application forms for the said test would commence from 6th April, 2010. The last date for sale and receipt of filled in application is 27th April, 2010.
Institute of Chartered Accountants of India (ICAI), the statutory body regulating chartered accountants in India, has now demanded amendment of some section of the law, which guides them. The whole idea is to seek more legal power to initiate stringent disciplinary measures against erring auditors/CAs on a fast track basis, G Ramaswamy, the newly elected […]
Central Board of Excise and Customs has introduced “Automation of Central Excise and Service Tax” (ACES) to improve tax-payer services. ACES is a centralized web based application which enables the assesses to electronically interface with the department. It aims to reduce paperwork, manual interface, transaction costs and increase accountability, efficiency and transparency.
Bank Audits for the FY ended 31.03.2010:-The bank audit season is around the corner. Banking being an industry typical in terms of its geographical and customer spread, volume of transactions as well as the types of products and services offered coupled with the time constraints for completing the audits, the members face a number of issues in their bank audit assignments.
Mahindra Satyam, which is in the process of restating the accounts of the last few years that preceded the major financial crisis, has reportedly written to the Ministries of Company Affairs and Finance to refund the huge taxes the company had paid on the inflated financials of the company. Sources in the company said the amount could be in the order of Rs 300 crore.
While the Public Company Accounting Oversight Board (PCAOB), the regulator for auditors in the US, on March 16 barred Siva Prasad Pulavarthi and Chintapatla Ravindernath — senior executives with PricewaterhouseCoopers’ associate Lovelock & Lewes, the former auditor for Satyam Computers — in the IT firm’s Rs 7,000-crore fraud, the accounting regulator here, the Institute of Chartered Accountants of India, is yet to complete its disciplinary committee hearings.
Compilation of Suggested Answers is a subject-wise compilation of answers to questions set in the Institute’s examinations over a number of years. This compilation in the subject of “Financial Management” covers a period of three years – May, 2007 to November, 2009 and contains compilation of suggested answers of six examinations.
Applicability of relevant Corporate Laws for the CA Final (Old & New Course) – May 2010 Examinations
In the wake of a chartered accountancy student’s arrest last week for allegedly forging documents using a CA’s stamps and seals, the Pune branch of the Institute of Chartered Accountants of India (ICAI), now suspects the accused may have misused stamps and seals of more chartered accountants in the city.
