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 The appeal was withdrawn wi...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...
The era of qualified company accounts is about to close. Companies will have to restate their financial statements if auditors raise objections to any figure in annual accounts, if the government accepts a proposed recommendation of the Institute of Chartered Accountants of India (ICAI). Annual reports would contain financial statements that fully satisfy the auditor’s […]
It is clarified that in Part –II : Service tax and VAT of Paper 5 : Taxation, students will not be tested on specific questions covering individual taxable services Final Examinations (Both Existing and New) Paper 8 : Indirect taxes/ Paper 8 : Indirect Tax Laws
The Institute of Chartered Accountants of India today filed an application in a local court here seeking its permission to examine and record statements of three chartered accountants, including Satyam’s former CFO Vadlamani Srinivas. ICAI counsel G Gopalakrishna Murthy told the XIV additional chief metropolitan magistrate’s court that the professional body wanted to find if […]
Price Waterhouse (PW), the audit arm of international professional services firm PricewaterhouseCoopers (PwC), has named two more of its accounting professionals as answerable to the Rs 7,000 crore corporate fraud at Satyam Computer Services, to which its promoter Ramalinga Raju confessed on January 7. The audit firm has named P Shiva Prasad and C H […]
Accounting regulator ICAI for the third time today extended the deadline given to four members of Price Waterhouse-Bangalore to respond to the show-cause notices issued in connection with the Rs 7,800-crore Satyam fraud case. The four Price Waterhouse CAs– P Shiva Prasad, C H Ravindranath, Srinivas Talluri and S Gopalakrishnan — have been given time […]
The Institute of Chartered Accountants of India, which frames accounting standards for the country, has opposed a proposal of the Reserve Bank of India to relax the provisioning norms for non-performing assets. According to the proposal, commercial banks need not classify a non-serviced loan under NPAs if the borrower has submitted an application for restructuring […]
Your attention is drawn to the new Procedure for appointment of Branch Statutory Auditors in Public Sector Banks for the year 2008-09 already hosted on the website. It is an open invitation to all those Chartered Accountants/ CA firms which have been conducting audits as bank branch auditors since 2004-05 onwards continuously. In case they […]
The present crisis of confidence in the audit profession among users and stakeholders, arising from recent market events has to be addressed in a fair manner. The profession, regulators and all concerned have to determine – what is the right medicine? A professional issue requires a professional response. Thus, the fundamental point is that the […]
THE Institute of Chartered Accountants of India (ICAI), the regulatory body for the accounting profession, plans to scrutinise books of companies that have seen independent directors resign in the last two months, after the role of such directors came under intense scrutiny in the wake of the major financial fraud at Satyam Computer Services. Some […]
In the wake of Rs 7,000 crore Satyam fraud, Sebi had announced that it would ask an independent team of auditors to conduct a peer review of the working papers of the financial statements of the auditors of listed companies. “We feel such that an audit should be conducted by the ICWAI and discussions for […]
