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Company Law - The Institute of Cost Accountants of India has issued a guidance note on the RESPONSIBILITY OF DIRECTORS: AS REGARDS MAINTENANCE OF COST RECORDS in January 2019. The guidance note aims to provide the guidance to the company to obtain a Assurance Certificate for Maintenance of Cost Records before incorporating the disclosure with regard t...
Read MoreCompany Law - Presentation on Standard on Cost Auditing Knowledge of Business, its processes and the Business Envirnment (SCA 104)- An auditor needs to understand the clients business before audit of cost statements. [Current Business scenario, Nature of Business, Product Portfolio, Raw Material Prices Global impact etc., whether it is part of any regu...
Read MoreCompany Law - Presentation on Standard on Cost Auditing- Overall Objectives of the Independent Cost Auditor and the Conduct of an Audit in Accordance with Cost Auditing Standards (SCA 103)...
Read MoreCompany Law - Presentation on Standard on Cost Auditing Cost Audit Documentation (SCA 102)- Documentation is necessary to have proper evidence that the audit was planned and performed in accordance with SCAs and applicable legal & regulatory requirements. Cost auditor should document all matters, important in providing evidence to support the opinio...
Read MoreCompany Law - Presentation on Standard on Cost Auditing Planning an Audit of Cost Statements (SCA 101)- Planning an audit of cost statements and records is considered necessary to ensure achievement of audit objectives with available resources and securing coordination with the auditee....
Read MoreCompany Law - CAS-4 (REVISED 2018) COST ACCOUNTING STANDARD ON COST OF PRODUCTION / ACQUISITION / SUPPLY OF GOODS / PROVISION OF SERVICES The following is the Cost Accounting Standard (CAS-4) (Revised 2018) on “COST OF PRODUCTION / ACQUISITION / SUPPLY OF GOODS / PROVISION OF SERVICES” issued by the Council of the Institute of Cost Accountants of [...
Read MoreCompany Law - Introduction The purpose of this Guidance Note on Compilation Engagements by a Cost Accountant is to provide guidance on the cost accountant’s professional responsibilities to compile cost statements and the form and content of the report, the cost accountant issues in connection with such compilation engagement. Objective of Compilatio...
Read MoreCompany Law - PRESS RELEASE Result declared for DECEMBER – 2018 term of examination Kolkata: The Institute conducts Foundation / Intermediate / Final Examination twice in a year i.e. in June and December. The results of December 2018 term of Examination of The Institute of Cost Accountants of India have been declared on 21/02/2019. Result Analysi...
Read MoreCompany Law - Guidance Note On Annual Return Of GST by Institute of Cost Accountants of India Containing Overview of Annual GST Returns, Prerequisites / Check List for filing of Annual GST Returns, Detailed Analysis of Annual GST Return Format GSTR-9, Suggested Reconciliation Formats, Due Dates of GST Return Filing, Notified Formats of Annual Return- (...
Read MoreCompany Law - Compilation Of GST Notifications And Circulars For 1st Year Of GST (1st July, 2017 To 30th June, 2018) by The Institute of Cost Accountants of India containing CGST Notifications, CGST Rate Notifications, IGST Notifications, IGST Rate Notifications and GST Circulars. The introduction of GST in India has been a journey in which the Governm...
Read MoreAshok B. Nawal Vs ICWAI (Appellate Authority) - It was clear that despite knowing the fact that Managing Director (MD) was not allowed under the CWA Act, the Respondent had accepted the position of MD and also protecting the same. ...
Read MoreKarnataka State Chartered Accountants Association, Bangalore & Ors. Vs The State of Karnataka, Department of Co-operation & Ors. (Karnataka High Court) - It is the case of the petitioners that succumbing to the pressure of lobbying and political pressure, brought by the members of the Cost Accountants fraternity, the State Legislature sought to bring a further amendment to Section 63 of the KCS Act, by Act no. 35 of 2014....
Read MoreTax Lawyers Association Lko.Throu General Secy.& Anr. Vs State Of U.P. Thru. Prin. Secy.Tax & Registration U.P.Lko.& Ors (Allahabad High Court) - the writ petition, which has been admitted by an order passed the Division Bench on 6 August 2014, there is a challenge to the validity of Rule 73 of the U.P. Value Added Tax Rules, 2008 on the ground that they are ultra vires the provisions of the U.P. Value Added Tax Act, 2008 and the Advocates A...
Read MoreF. No. 01/33/2013-CL.V (Pt.) - (12/04/2019) - Further deferral of SA 701 cannot be permitted and it remains applicable for audits of financial statements for periods beginning on or after 1st April, 2018:‑(i) SA 701 was issued in May, 2016 with applicability for all audits of the year 2017-18 onwards. On the grounds of lack of adequate time f...
Read MoreNo. EL-2019/1, No. EL-2019/2, No. EL-2019/3, No. EL-2019/4, No. EL-2019/5, No. EL-2019/6, No. EL-2019/7, No. EL-2019/8, No. EL-2019/9 - (26/03/2019) - THE INSTITUTE OF COST ACCOUNTANTS OF INDIA NOTIFICATION Kolkata, the 26th March, 2019 ELECTIONS TO THE COUNCIL AND THE REGIONAL COUNCILS, 2019 The present (four-year) term of the Nineteenth Council will come to an end on July 21, 2019. For the purpose of constituting Twentieth Council on July 22, 20...
Read MoreNotification No. CWA/21/2019 - (08/03/2019) - The Institute of Cost Accountants of India has amended its recent notification and rectified its mistake due to which it was mandated Training for Renewal of CoP to Cost Accountants while its was intended for Issue of certificate of practice (CoP) THE INSTITUTE OF COST ACCOUNTANTS OF INDIA CORRIGEND...
Read MoreNotification No. F. No. CWA/21/2019 - (01/02/2019) - A Cost Accountant is required to undergo a mandatory training before applying for Certificate of Practice or within six months of getting the Certificate of Practice. The duration of the training will be for six days or 36 hours with course fees as may be fixed by the Council from time to time....
Read MoreNo3A-45011/15/2018-Admn.1 - (11/07/2018) - Ministry proposes to engage a total number of 80 Young Professionals (41 Chartered Accountants/Cost Accountants and 39 Company Secretaries) at different places as indicated at enclosed Annexure....
Read MoreF. No. 01/33/2013-CL.V (Pt.) - (12/04/2019) -
No. EL-2019/1, No. EL-2019/2, No. EL-2019/3, No. EL-2019/4, No. EL-2019/5, No. EL-2019/6, No. EL-2019/7, No. EL-2019/8, No. EL-2019/9 - (26/03/2019) -
Notification No. CWA/21/2019 - (08/03/2019) -
Notification No. F. No. CWA/21/2019 - (01/02/2019) -
