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CA, CS, CMA : CAS-25 standardizes principles for inventory valuation, including cost components and NRV rules. It applies from 12 February 2026 ...
CA, CS, CMA : ICMAI has proposed structured rules governing merger and demerger of CMA firms, including mandatory agreements, name freezing, and...
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Corporate Law : Sanjay Ghiya Vs Union Of India (Rajasthan High Court) Rajasthan High Court held that CHARTERED ACCOUNTANTS Or COMPANY SECRETARIES ...
CA, CS, CMA : CA V. Venkata Sivakumar Vs. The Secretary, Institute Of Cost Accountants Of India Use of acronym ICAI by Institute of Cost Account...
CA, CS, CMA : Institute of Chartered Accountants of India Vs The Institute of Cost Accountants of India (Delhi High Court) Institute of Chartere...
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Corporate Law : ICAI amends 1959 regulations, replacing “Calcutta” with “Delhi” as the official head office location, effective April 25, ...
Corporate Law : Ministry of Corporate Affairs updates tribunal members for ICAI and ICMAI election dispute cases, effective from April 17, 2025....
In terms of Council decision dated 22nd January, 2012, the following guidelines for conversion of Cost Accountants firms into LLPs and constitution of separate LLPs by the practising Cost Accountants have been finalized. They are applicable for conversion of Cost Accountants’ firms into LLPs or formation of new LLPs, by the members in practice of the Institute of Cost Accountants of India (ICAI) upon coming into force the provisions of the Cost and Works Accountants (Amendment) Act, 2011 (i.e. 1st February, 2012), subject to the provisions of the Limited Liability Partnership (LLP) Act, 2008 and Rules & Regulations framed thereunder:
Pursuant to the decision taken by 271st council meeting held on 24th September 2011, the Practical Training scheme for the students registered under Revised Syllabus 2008 (Registered for Intermediate course on or after 01.01.2008), stands modified to the extent as mentioned below:
FAQs – 1 on Companies (Cost Accounting Records) Rules, 2011 – CARR (Amended on 07 Dec, 2011). FAQs – 2 on Companies (Cost Audit Report) Rules, 2011 CAR (Amended on 07 Dec, 2011). FAQs – 3 on CARR & CAR – 2011. Revised FAQs – 4 on CARR & CAR – 2011 (3 Feb, 2012). Revised FAQs – 5 on CARR & CAR – 2011 (3 Feb, 2012).
Finance Act 2011 involving Assessment year 2012-13 will be applicable for the subject Applied Direct Taxation (Intermediate), Applied indirect Taxation (Intermediate), & indirect & Direct Tax management (Final) for the purpose of June 2012 term of Examination Under revised syllabus 2008.
All of us are familiar with these words, especially the second line is embedded in our minds through our Institute emblem, right from the moment we entered into the CMA profession. The entire stanza from the ancient Upanishad, correctly reflect the DNA of our profession for what it stands for. If we faced our tryst with destiny in the previous month, from this month onwards we have to put the past behind us and march towards the new dawn which is emerging before us. The name of the Institute and the designated letters provided to us in the amended Act, encompass a vast arena to add value to any enterprise involved in consumption of finite resources, much beyond the realms of focus of the past which was on manufacturing. As a CMA brand, we have to go beyond the numbers to provide enlightenment through segmented analysis, sift the grain of reality in value addition, work for an immortal and sustainable future, letting the enterprise live in harmony with the environment and society.
In exercise of the powers conferred by sub-section (2) of Section 1 of the Chartered Accountants (Amendment) Act, 2011 (No. 3 of 2012) the Central Government hereby appoints the 1st day of February, 2012 as the date on which the provision of the said Act shall come into force.
The fees payable by the members of the Institute have been revised by the Council with effect from 1st April, 2012 from the financial year 2012-2013 onwards as follows:
The Institute of Cost and Works Accountants of India (ICWAI) will be henceforth be known as The Institute of Cost Accountants of India (ICAI). The change is a sequel to the passing of of ICWAI Amendment Act 2011, to enable their members to use the designation ACMA and FCMA denoting Associate and Fellow membership of the Institute respectively.
THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011 (No. 10 of 2012) [12th January, 2012.] An Act further to amend the Cost and Works Accountants Act, 1959. BE it enacted by Parliament in the Sixty-second Year of the Republic of India as follows:— Short tide and commencement 1. (1) This Act may be called the Cost and Works Accountants (Amendment) Act, 2011. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
ICWAI has received a communication from Bharat Sanchar Nigam Limited (BSNL), a fully Central Govt. owned company which is providing telecom services throughout the Nation, seeking a panel of Cost Accountant Firms for the purpose of selection and appointment of Cost Auditor from amongst such panel, for their 24 circle office and 2 District offices namely Chennai phones and Kolkata phones.
