CMA

Presentations on Standards on Cost Auditing: SCA 104

CA, CS, CMA - 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...

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Presentations on Standards on Cost Auditing: SCA 103

CA, CS, CMA - 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)...

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Presentations on Standards on Cost Auditing: SCA 102

CA, CS, CMA - 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...

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Presentations on Standards on Cost Auditing: SCA 101

CA, CS, CMA - 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....

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CMA institute suggests inclusion of Cost Accountant in definition of Accountant U/s. 288(2) of Income Tax Act, 1961

CA, CS, CMA - Institute of Cost Accountants of India has submitted suggestions on New Direct Tax Law on 23rd May 2018 to Finance Minister Shri Piyush Goyal and suggested Inclusion Of Cost Accountants Under The Definition Of Accountant U/S 288(2) Of Income Tax Act, 1961. ...

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Allow cost accountants to issue certificates related to GST Refund: ICAI CMA

CA, CS, CMA - Inclusion of Cost Accountants for undertakings/submission of Certificates to the exporters to overcome the problem of refund blockage and post audit scrutiny...

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Railway includes Cost Accountants to certify work sheet of tax liability

CA, CS, CMA - Ministry of Railways has included Cost Accountants to certify work sheet of tax liability before GST and after GST to be submitted by contractors. Earlier only chartered accountants were allowed....

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NFRA to be set-up soon; Will take disciplinary action against errant CAs, CSs & Cost Accountants

CA, CS, CMA - Around 2.24 lakh companies have been struck-off till date for remaining inactive for a period of two (2) years or more;. Around 3.09 lakh Directors disqualified who were on the Board of Companies that have failed to file Financial Statements and/or Annual Returns for a continuous period of three (3) financial years during 2013-14 to [&hel...

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Appointment of Cost Auditor for F.Y. 2017-18 with NTPC Limited

CA, CS, CMA - NTPC Ltd. invites Expression of Interest (EOI) for Empanelment/ Appointment of cost Auditors for the financial Year 2017-18. Interested firms having requisite experience in Cost Audit may send their application in prescribed format in sealed envelope...

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Notices for non-compliance with Section 148 / 233B of Companies Act, 2013- Reg.

CA, CS, CMA - Few Hon'ble Members of the Institute informed that they and their client companies have received letters/notices from the Courts and/or from the Cost Audit Branch or Registrar of Companies, Ministry of Corporate Affairs. These relate to purported non‐compliance with the provisions of Section 148 of the Companies Act, 2013...

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CAs lost battle against CMAs on Co-Operative Society Audit issue

Karnataka 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....

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HC Order allowing CA, CMA and CS to appear before VAT Authorities

Tax 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...

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MCA amends notification No. S.O. 1693 (E) dated 3rd October, 2007

Notification No. S.O. 3297(E) - (12/10/2017) - In exercise of the powers conferred by section 29A of the Cost and Works Accountants Act, 1959 (23 of 1959), the Central Government hereby makes the following further amendment in the notification of the Government of India in the Ministry of Corporate Affairs, vide number S.O. 1693 (E) dated the 3r...

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Reg. Committee to dispose disciplinary cases in Profession Institutes

No.1-CA(10)/199/2017 - (19/04/2017) - The Government, in supersession of its earlier Order dated 27th March, 2017 has issued a revised Order dated 10th April, 2017 amplifying the Terms of Reference of the High Level Committee to look into issues related to disposal of the disciplinary cases in the professional Institutes....

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Change in Constitution of Appellate Authority under CA, CS, CMA Laws

Notification No. G.S.R. 1130(E) - (13/12/2016) - Central Govt makes further amendments in notification of Govt of India by which it notified Constitution of Appellate Authority under CA, CS & CMA Laws...

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Constitution of Appellate Authority under CA, CS & CMA Laws

G.S.R. 835(E) - (03/11/2015) - In exercise of the powers conferred by sub-section (1) of Section 22A of the Chartered Accountants Act, 1949 (38 of 1949), Section 22A of the Cost and Works Accountants Act, 1959 (23 of 1959) and Section 22A of the Company Secretaries Act, 1980 (56 of 1980)...

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MCA issues amended Companies (Cost Records and Audit) Rules 2014

Notification No. G.S.R. 01(E) - (31/12/2014) - Telecommunication services made available to users by means of any transmission or reception of signs, signals, writing, images and sounds or intelligence of any nature (other than broadcasting services) and regulated by the Telecom Regulatory Authority of India under the Telecom Regulatory Authorit...

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Recent Posts in "CMA"

Presentations on Standards on Cost Auditing: SCA 104

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 More
Posted Under: CA, CS, CMA |

Presentations on Standards on Cost Auditing: SCA 103

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 More
Posted Under: CA, CS, CMA |

Presentations on Standards on Cost Auditing: SCA 102

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 More
Posted Under: CA, CS, CMA |

Presentations on Standards on Cost Auditing: SCA 101

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 More
Posted Under: CA, CS, CMA |

Allow cost accountants to issue certificates related to GST Refund: ICAI CMA

G:142:05:2018-19 (30/05/2018)

Inclusion of Cost Accountants for undertakings/submission of Certificates to the exporters to overcome the problem of refund blockage and post audit scrutiny...

Read More
Posted Under: CA, CS, CMA |

CMA institute suggests inclusion of Cost Accountant in definition of Accountant U/s. 288(2) of Income Tax Act, 1961

Institute of Cost Accountants of India has submitted suggestions on New Direct Tax Law on 23rd May 2018 to Finance Minister Shri Piyush Goyal and suggested Inclusion Of Cost Accountants Under The Definition Of Accountant U/S 288(2) Of Income Tax Act, 1961. ...

Read More
Posted Under: CA, CS, CMA |

Railway includes Cost Accountants to certify work sheet of tax liability

Ministry of Railways has included Cost Accountants to certify work sheet of tax liability before GST and after GST to be submitted by contractors. Earlier only chartered accountants were allowed....

Read More
Posted Under: CA, CS, CMA |

6 Feedback on Models suggested for simplification of GST Returns

The Institute of Cost Accountants of India has submitted its Feedback on the Models suggested by GST Council for simplification of GST Returns which includes suggestion on Continuous facility to add invoice by Seller and Continuous viewing of invoices by Recipient, GST Return design, Input tax credit, A semi-automatic process of ITC rever...

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Posted Under: CA, CS, CMA |

Company law case studies for CA/CS/CMA examinations

Q 1 Masons (Pvt.) Ltd. is a private limited company as per the articles of association of the company. However, a  public company acquired shares in Masons (Pvt.) Ltd. Thereby making the  company, Masons (Pvt.) Ltd., a subsidiary of that public company. State the impact of such acquisition of shares by a public company on […]...

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Posted Under: CA, CS, CMA |

From Satyam to PNB -Audit Mechanism Collapse Is Evident

We have seen many financial scams during the last few years from Satyam, Saradha, Kingfisher (Mr. Vijay Mallya), NSEL to PNB where public money running into thousands of crores of rupees has been involved. There may be many such scams which still hidden in dark room. These scams have shattered the faith of investors, citizens & other stak...

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