CA, CS, CMA : Following anti-corruption protests, Ms. Karki becomes Nepal's first female interim prime minister. Her new cabinet includes Financ...
Income Tax : Explore reasons to include Cost Accountants in the Income Tax Bill 2025. Understand their role, expertise, and the legislative int...
Income Tax : Explore why Cost Accountants (CMAs) should be included in the definition of "Accountant" under the Income Tax Bill 2025 for a comp...
CA, CS, CMA : Direct taxation in India is plagued by mishandling, ignorance, and reliance on settlement schemes, risking the financial stability...
CA, CS, CMA : Its quite normal to see people clearing Professional Exams like CA/CMA/CS with comparatively little efforts and other student ...
Corporate Law : ICMAI introduced strict advertisement guidelines prohibiting exaggerated claims and misleading content. The framework ensures ethi...
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...
CA, CS, CMA : ICMAI requires prior approval of network names and submission of formal agreements through prescribed forms. Detailed provisions g...
CA, CS, CMA : Proposed guidelines permit PCMA firms to change names with Council approval while retaining registration number and tenure, provid...
CA, CS, CMA : Kolkata High Court judgment on re-evaluation of answer scripts in Cost Accountancy exams. Analysis of regulations and court decisi...
CA, CS, CMA : Delhi High Court restrained Institute Of Cost Accountants Of India from using ICAI acronym, a trademark which stands registered in...
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...
Corporate Law : The amended guidelines mandate minimum CPE hours for all practicing members. Non-compliance will lead to discontinuation of the Ce...
CA, CS, CMA : The Institute of Cost Accountants of India grants a final extension until March 31, 2026, for CoP holders to clear the mandatory C...
CA, CS, CMA : The Ministry of Corporate Affairs (MCA) has updated member appointments for the Chartered Accountants, Cost Accountants, and Compa...
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....
The Institute has already released the revised Guidance Note on CAS-4 and requested for comments / suggestions on the same upto 10th October 2011. Based on the request of the members it has been decided to extend the last date for submission of the comments up to 31st October 2011. The Draft is available on the website of the Institute i.e. www.icwai.org.
LIST OF INDUSTRIES AND THE PRODUCTS COVERED UNDER SECTION 209(1)(D) OF THE COMPANIES ACT, 1956 No Industry Products GSR NO. and Date Effective from Remarks 1. Cement Cement, Clinker 536 (E) dt. 11.9.1997* 11.9.1997* The Rules,1997 notified in suppression of GSR 1402 dt. 12.9.66 2. Cycles Cycles, component of cycles 311 dt. 2.3.1967 1.04.67 […]
The series of seminars on CARR and CAR continued during the month also, starting from Mysore Chapter on 4th September 2011 and followed by WIRC programme in Mumbai on 16th and 17th September. The XBRL meeting was kick started during the month with Hyderabad hosting the first meeting on 6th September 2011, which was also webcast (witnessed in India and abroad).
The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on Cost Accounting Standard -4 (CAS-4). This note has been exposed for the public comments. The proposed Exposure Draft shall be modified in light of comments received before being issued in the final form. I request all of you to please submit your views / comments / suggestions on the same latest by October 10, 2011 to the CASB Secretariat. I also request the members to send their views on the Generally Accepted Cost Accounting Principles, which has been already exposed for public comments.
The Cost Accounting Standards Board Secretariat has prepared a revised Guidance Note on CAS-4. It has been decided to expose the same for the public comments. The proposed Exposure Draft may be modified in light of comments received before being issued in the final form.
National Task Force on CARR and CAR constituted by the Council, in its 1st Meeting held on 25th August 2011, has established a “Technical Cell” at ICWAI, to go into all the queries and seek clarifications from the Cost Audit Branch (CAB), Ministry of Corporate Affairs and provide the same on receipt of official clarification from CAB by way of updated FAQs through the Institute website.
The Cost Accountants are authorised to conduct audit and other as follows: Statutory Auditors under Value Added Tax Act of States: Many States have authorised Cost Accountants for auditing, certification of returns and to appear as authorised representative on behalf of their clients under the Acts. Central Board of Excise and Customs (CBEC) authorizes Cost Accountants in practice for the following work: 1. Special Audit under Section 14A & 14AA of the Central Excise Act 1944; 2. Certification of refund of additional duty of Customs on the goods imported for subsequent sale under Indian Customs Act;
Ministry of Corporate Affairs vide notification number 430 dated 3rd June 2011 has issued The Companies (Cost Audit Report) Rules 2011. Every cost auditor has to submit the Cost Audit Report as per these rules from 1st April 2012 irrespective of the financial year of the company to which it relates. The report is to be submitted in 3 forms: Form I relates to General Information of the company Form II relates to form of Cost Audit Report Form III relates to Performance Appraisal Report
Application in prescribed format is invited from Students presently pursuing ICWAI Final Course, for being considered as an eligible student, to receive ‘Compendiums’, free of cost, on the following subjects: Group III: Paper 11: Capital Market Analysis & Corporate Laws Paper 12: Financial Management & International Finance Paper 13: Management Accounting: Strategic Management Total No. of compendiums for Gr.III = 3 (Three)
The ICWAI has been appealing the Government to change its name from the ‘institute of Cost and Works Accountants of India’ to the ‘Institute of Cost and Management Accountants of India’ in line with the global practice and to make its members known by its true functions they are performing in line with the changing role of the professionals known earlier as cost and works accountants of similar institutes in developed and developing countries such as UK, USA, Canada, Pakistan, Bangladesh.. Sri Lanka, etc. The appeal was also considered by the Standing Committee on Finance in 2004-05 which strongly recommended the name change, in spite of objections only from ICAI.
