The Institute of Cost and Works Accountants of India (ICWAI) has signed a memorandum of understanding with the Chartered Institute for Securities and Investment (CISI), UK on awarding the membership of CISI to ICWAI members and concessional fee for ICWAI students. The MOU was signed by M. Gopalakrishnan, President, and by Simon Culhane, Chief Executive, CISI in presence of Rakesh Singh, Vice President, ICWAI and other senior council members and officials of ICWAI yesterday in Mumbai.
The Institute has decided to introduce New Type of Main Answer Books with Optical Mark Reader (OMR) base cover page for use of examinees in CS examination effective from December, 2011 examination onwards. Detailed Instructions with regard to use of Optical Mark Reader (OMR) based Answer Books are given in the “Instructions to Examinees” appended with the Admission Certificates. However, attention of the candidates are especially invited to the following ‘Important Instructions’ for advance information and necessary compliance :
Two farmers fed up with alleged bribery demands emptied three bags filled with slithering snakes in a busy tax office in northern India, an official said Wednesday. The 40 or so snakes of different sizes and species — including at least four deadly cobras — sent clerks and villagers climbing atop tables and scurrying out the door to escape the office in Basti, about 186 miles (300 kilometers) southeast of Lucknow, said Uttar Pradesh state official Ramsukh Sharma.
The President has appointed JM Shanti Sundharam as the new Member of CBEC in the vacancy arising on the retirement of Rajesh Dhingra yesterday. Now the CBEC will have four lady Members out of the total of six Members. It is possible that soon we may have an all women Board.
Tourist Visa on Arrival for Citizens of Eleven Countries The Government of India has provided Tourist Visa on Arrival (TVOA) facility for the citizens of 11 countries viz. Japan, Singapore, Finland, Luxembourg, New Zealand, Cambodia, Laos, Vietnam, Philippines, Myanmar and Indonesia for promotion of tourism in the country. 16289 nationals of above mentioned countries availed the TVOA facility upto October, 2011.
Planning Commission Deputy Chairman Montek Singh Ahluwalia has said the government has consulted all stakeholders, including UPA allies, before opening the multi-brand retail to foreign investment. Participating in a TV programme he said the decision provides States the power to decide on opening up of such stores.
While presenting the Annual Budget for 1956-1957, the then Union Finance Minister Shri C. D. Deshmukh had said: It is enough to state broadly my view that by means of the First Five Year Plan we have laid sound foundations for a more massive superstructure in building up the country’s economy. He went on to present the vision of his mission which is relevant even today:
EXPORTS (including re-exports) India’s exports during October, 2011 were valued at US$ 19869.97 million (Rs.97875.32 crore) which was 10.82 per cent higher in Dollar terms (22.92 per cent higher in Rupee terms) than the level of US$ 17929.64 million (Rs. 79626.77) during October, 2010. Cumulative value of exports for the period April-October 2011 -12 was US$ 179777.23 million (Rs 820679.43 crore) as against US$ 123170.46 million (Rs.564313.87 crore) registering a growth of 45.96 per cent in Dollar terms and 45.43 per cent in Rupee terms over the same period last year.
The Rs. 45 crore tax exemption given to the ICC on the revenue generated from this year’s cricket World Cup here was unjustified and devoid of merit, the Standing Committee on Finance has concluded in an inquiry.
As you would be aware, the Council of the Institute introduced the concept of Peer Review by issuing the Statement on Peer Review in the year 2002. The primary objective behind this was to conduct Peer Review of CA firms (Practice Units) for ensuring as well as improving the quality of Attestation services being rendered by the members in Practice thereby enhancing the confidence of the various stakeholders.
