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 The appeal was withdrawn wi...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...
India’s accounting standards regulator on Wednesday opposed the proposed sale of Satyam Computer Services to Tech Mahindra before restating the accounts of the scam-hit IT outsourcing company. “I am not happy with the deal as the company’s correct financial position was not yet known,” Institute of Chartered Accountants of India (ICAI) president Uttam Prakash Agarwal […]
The 1.5 lakh-member strong chartered accountants’ profession could witness a big showdown. UTVi learns that the accounting regulator, Institute of Chartered Accountants of India (ICAI), has issued notices to the big four accounting firms – KPMG,PwC, E&Y and Deloitte — asking them to provide exhaustive information on their international affiliations. The regulator has also asked […]
While acknowledging and appreciating the initiatives and the efforts undertaken by the Committee on Management Accounting (CMA) especially its Chairman, CA Vinod Jain, FCA. I am happy to inform you that the Committee on Management Accounting has launched Master in Business Finance as a Certificate Course for the members of the Institute. The word Master […]
Professional Development Committee at its 185th meeting held on January 30, 2009 approved the attached “Recommended Scale of Fees for various kind of assignment” ( which is in addition to the council decision on revision of recommended scale of fee chargable for the work done by the members of the Institute). http://www.icai.org/resource_file/15792revised_fee_scale.xls
KPMG and Deloitte, auditors appointed to restate the financials of the fraud-hit Satyam Computer Systems, have found instances of `amateurish forgery’ in the account books of the IT firm that should have been easily detected by Price Waterhouse (PW). These “amateurish forgeries” with regard to bank confirmation letters on Satyam’s fixed deposit receipts have come […]
A battle of sorts is brewing between the Institute of Chartered Accountants in India, or Icai, and the banking industry. Icai, the apex accounting body, has told auditors to demand detailed disclosures from banks about loans restructured by them. In the absence of such disclosures, auditors have been asked to pass banks’ balance sheets with […]
Accounting regulator ICAI on Thursday said all listed companies would be audited by only those who have been certified by the Peer Review Board of the institute.”The council had accepted the recommendation of Sebi that audit of listed companies shall be carried out by auditors who have undergone Peer Review Process and have been issued […]
Though the government has initiated the process of registering Limited Liability Partnership (LLP) firms, it would take a while before the chartered accountant (CA), company secretary (CS) and cost accounting firms convert to LLPs. The three regulators — Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of […]
The Institute of Chartered Accountants of India (ICAI), the quasi-judicial body of chartered accountants in India, has sought more powers to auditors to chase the source of funds declared by companies while auditing accounts. This is a direct fallout of the fraud at Satyam Computer Services, which led to two auditors from auditing firm Pricewaterhouse […]
LLP Act comes into effect from 01.04.2009 but legal and tax hurdles remain The Ministry of Corporate Affairs (MCA) has started registering firms under the newly-enacted Limited Liability Partnership (LLP) Act. However, a flow of applications is unlikely till tax laws are changed, say experts. At present, the Income Tax Act does not recognise LLP […]
