ICSI

ICSI Auditing Standards

Company Law - CSAS-1 Auditing Standard on Audit Engagement Applicability: 1. Applicable to Auditor undertaking Audit Engagement under any Statute. 2. CSAS-1 deals with the Auditor’s role and responsibilities w.r.t Audit Engagement and the process of entering into an understanding/ agreement with the Appointing Authority. – Effective Date: Objec...

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How CS student can Prepare Company Law Paper?

Company Law - Dear future Company Secretaries, You all would be worried of your exams as only one month is there to fight and win the battle of CS Exams. Some of you will be fighting for the first time and some of you will be fighting the battle with a hope that this time I will win……Take […]...

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Frequently Asked Questions On e-Form Active

Company Law - Q.1. What is E-form ACTIVE? ACTIVE stands for Active Company Tagging Identities and Verification. The Ministry of Corporate Affairs has introduced the same for address validation of Active companies. Q.2. What is the applicability of the form? The form is applicable to every company incorporated on or before the 31st December, 2017. Such ...

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Introduction To Secretarial Compliance Report

Company Law - SEBI vide its circular CIR/CFD/CMD1/27/2019 dated February 08, 2019 has specified Format for annual secretarial audit report and annual secretarial compliance report for equity listed entities and their material subsidiaries....

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Board Meeting under Companies Act, 2013 & ICSI Secretarial Standard

Company Law - Board Meeting as per Companies Act, 2013 and Secretarial Standard issued by ICSI. The Board of Director of the Company is primarily an oversight Board. It oversees the management of the company to ensure that the interest of non-controlling shareholders is protected. 1. Frequency of Board Meeting: 1. First Board Meeting (BM) should be hel...

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ICSI Guidance Note on Report of Board of Directors

Company Law - The Board’s Report is an important means of communication by the Board of Directors of a company with its stakeholders. The Board’s Report provides the stakeholders with both financial and non-financial information, including the performance and prospects of the company, relevant changes in the management and capital structure...

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13 recent important decisions taken by ICSI Council

Company Law - Ceiling on number of Annual Secretarial Compliance Reports to be issued by PCS - (i) The ceiling on number of Annual Secretarial Compliance Reports to be issued by PCS is 5 (five) reports individually/ per partner in each financial year w.e.f. April 1, 2020 and an additional limit of 5 (five) Secretarial Compliance Reports individually/ p...

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Consider extension of last date of filing Form BEN-I: ICSI

Company Law - The due date for the filing of Form BEN-1 is 9th May, 2019 and that of Form BEN-2 is within 30 days of receipt of declaration in Form BEN-1 However, the said e-forms Form BEN-1 and BEN-2, have not yet been made available on the MCA website is leading to practical difficulties for companies in […]...

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ICSI issues four Auditing Standards on Audit Engagement

Company Law - The four Standards namely CSAS-1: Auditing Standard on Audit Engagement; CSAS-2: Auditing Standard on Audit Process and Documentation; CSAS-3: Auditing Standard on Forming of Opinion and CSAS-4:  Auditing Standard on Secretarial Audit are applicable on recommendatory basis on Audit engagements accepted by the Auditor on or after 1...

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CSAS-4 Auditing Standard on Secretarial Audit

Company Law - CSAS-4 Auditing Standard on Secretarial Audit deals with responsibilities of the auditor while carrying out Secretarial Audit of a Company. The Standard is in addition to other Auditing Standards, as may be applicable with regard to Secretarial Audit. Contents Scope Effective Date Objective Definitions i. Auditor ii. Audit Procedure iii. ...

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Fees for certified copies sought under RTI cannot be charged under CS Act, 1980

ICSI Vs Paras Jain (Supreme Court of India) - Avenue for seeking certified copies as well as inspection is provided both in the Right to Information Act and in Company Secretaries Act, 1980. We are cognizant of the fact that guidelines of the appellant, framed by its statutory council, are to govern the modalities of its day-to­day concerns an...

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CS found guilty of filing Compliance Certificate without Due Diligence

Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye - Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye (Disciplinary Committee, ICSI) Disciplinary Committee after considered all the material on record, the nature of issues involved and in the totality of the circumstances of the case and the Respondent pleaded guilty only to the charge of not exercisin...

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Order on quantum of Punishment without providing opportunity of being heard is invalid

Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority) - Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority) It is clear that the Disciplinary Committee has not followed the due procedure as prescribed statutorily as no opportunity of being heard was provided to Ms. Gayathri Pasarakayala on the question of quantum of punishment irre...

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CS Guilty of Misconduct for suppressing Enrollment as Advocate

Shri Hitender Kumar Mehta Vs Shri Rajiv Bajaj (ICSI Discipilinar Committee) - Shri Hitender Kumar Mehta Vs Shri Rajiv Bajaj (ICSI Discipilinar Committee) The Disciplinary Committee, after considering all material on record, the provisions of the Company Secretaries Act, 1980, the Regulations and Rules made there under; the legal opinions sought in the matter, the prima-facie ...

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Working as Asst CS/ Management Trainee cannot be considered as equal to CS

Ritu Bhatia Vs Ministry Of Civil Supplies consumer Affairs & Public Distribution And Others (Supreme Court of India) - Working experience as an Assistant Company Secretary or a Management Trainee cannot be treated as equal to a Company Secretary so as to become eligible for the post of Company Secretary....

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ICSI notifies elected Regional Council members of EIRC, SIRC, NIRC

Notification No. 4, 5 & 6 of 2018 - (31/12/2018) - Following members have been declared elected from EIRC, SIRC, NIRC (in the order elected) after the counting of votes held from 28th December, 2018 to 31st December, 2018...

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List of candidates elected to 13th Council of ICSI

Notification No. 3 of 2018 - (27/12/2018) - List of candidates elected to 13th Council of ICSI for Eastern India Regional Constituency (EIRC), Northern India Regional Constituency (NIRC), Southern India Regional Constituency (SIRC) and Western India Regional Constituency (WIRC). THE INSTITUTE OF COMPANY SECRETARIES OF INDIA NOTIFICATION New D...

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Experience of CS management training & Mere uploading of ROC Returns cannot be considered as experience in management: IBBI

(applicant) and a professional member of the ICSI Institute of Insolvency Professionals (ICSI IIP) submitted an application under regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (IP Regulations) seeking a certificate of registration as an Ins...

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ICSI withdraws existing SS-1 and SS-2 w.e.f. 30th September, 2017, Revised SS-1 & to be introduced w.e.f. 01.10.2017

F. No. ICSI/6/2017 - (16/08/2017) - F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the Board of Directors and (ii) SS-2: Secretarial Standard on General Meetings, stands withdrawn*...

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ICSI revises membership fee w.e.f. 1st April, 2017-Notification + FAQs

ICSI/05/May/2017 - (05/05/2017) - 1. The Council of the ICSI in its 236th meeting held on 29- 30th March, 2016 had revised various membership fee w.e.f. 1st April, 2017 as under-...

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Recent Posts in "ICSI"

ICSI Guidance Note on Report of Board of Directors

The Board’s Report is an important means of communication by the Board of Directors of a company with its stakeholders. The Board’s Report provides the stakeholders with both financial and non-financial information, including the performance and prospects of the company, relevant changes in the management and capital structure...

Read More
Posted Under: Company Law |

ICSI Auditing Standards

CSAS-1 Auditing Standard on Audit Engagement Applicability: 1. Applicable to Auditor undertaking Audit Engagement under any Statute. 2. CSAS-1 deals with the Auditor’s role and responsibilities w.r.t Audit Engagement and the process of entering into an understanding/ agreement with the Appointing Authority. – Effective Date: Objec...

Read More
Posted Under: Company Law |

13 recent important decisions taken by ICSI Council

Ceiling on number of Annual Secretarial Compliance Reports to be issued by PCS - (i) The ceiling on number of Annual Secretarial Compliance Reports to be issued by PCS is 5 (five) reports individually/ per partner in each financial year w.e.f. April 1, 2020 and an additional limit of 5 (five) Secretarial Compliance Reports individually/ p...

Read More
Posted Under: Company Law |

Consider extension of last date of filing Form BEN-I: ICSI

The due date for the filing of Form BEN-1 is 9th May, 2019 and that of Form BEN-2 is within 30 days of receipt of declaration in Form BEN-1 However, the said e-forms Form BEN-1 and BEN-2, have not yet been made available on the MCA website is leading to practical difficulties for companies in […]...

Read More
Posted Under: Company Law |

ICSI issues four Auditing Standards on Audit Engagement

The four Standards namely CSAS-1: Auditing Standard on Audit Engagement; CSAS-2: Auditing Standard on Audit Process and Documentation; CSAS-3: Auditing Standard on Forming of Opinion and CSAS-4:  Auditing Standard on Secretarial Audit are applicable on recommendatory basis on Audit engagements accepted by the Auditor on or after 1...

Read More
Posted Under: Company Law |

CSAS-4 Auditing Standard on Secretarial Audit

CSAS-4 Auditing Standard on Secretarial Audit deals with responsibilities of the auditor while carrying out Secretarial Audit of a Company. The Standard is in addition to other Auditing Standards, as may be applicable with regard to Secretarial Audit. Contents Scope Effective Date Objective Definitions i. Auditor ii. Audit Procedure iii. ...

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Posted Under: Company Law |

CSAS-3- Auditing Standard on Forming of Opinion

CSAS-3- Auditing Standard on Forming of Opinion deals with basis and manner for forming Auditor’s opinion on subject matter of the audit. Contents Scope  Effective Date  Objective  Definitions  i. Auditor ii. Audit Evidence iii. Records iv. Materiality v. Misstatement vi. Third Party vii. Third Party Information Requirements  1. Pr...

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Posted Under: Company Law |

CSAS-2 Auditing Standard on Audit Process and Documentation

CSAS-2 Auditing Standard on Audit Process and Documentation deals with responsibilities, duties and powers of the Auditor with respect to Audit Process to be followed by him in performing the audit function and maintaining proper documentation with respect to the audit. Contents Scope Effective Date Objective Definitions i. Auditor ii. Au...

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Posted Under: Company Law |

CSAS-1 Auditing Standard on Audit Engagement

CSAS-1 Auditing Standard on Audit Engagement prescribe for an Auditor, principles to accept or continue with an Audit Engagement by agreeing to the terms of engagement with the Management or any changes therein and matters related thereto....

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Posted Under: Company Law |

Declare PAN /Aadhaar while paying membership fees/applying Fellowship: ICSI

Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online payment of annual membership fees and while applying for Fellow membership of the Institute in Form-B....

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Posted Under: Company Law |

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