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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : ICAI

ICAI releases E Version of Compendium of Ind AS effective 1.4.2019
Posted Date : 15-May-2019 , 10:11:23 am | Posted By CASANSAAR

ICAI releases E Version of Compendium of Ind AS effective 1.4.2019   We are pleased to share that the Accounting Standards Board (the Board/ ASB) of Institute of Chartered Accountants of Indian (ICAI) has released e-version of Compendium of Indian Accounting Standards (Ind AS). As you are a...

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Category : ICAI | Comments : 0 | Hits : 571

Bar Council of Delhi bars the Big Four- KPMG, PwC, EY and Deloitte from practicing law
Posted Date : 03-May-2019 , 10:17:30 am | Posted By CASANSAAR

The Bar Council of Delhi has directed the Big Four Accounting Firms – KPMG, Price Water House Coopers, Ernst & Young and Deloitte India to refrain from indulging in any practice which would amount to practising law until further orders. The Bar Council has also directed them to give a l...

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Category : ICAI | Comments : 0 | Hits : 1834

ICAI releases e-version of compendium of revised Indian Accounting Standards
Posted Date : 03-May-2019 , 09:55:07 am | Posted By CASANSAAR

Chartered accountants' body ICAI on May 2 said it has released the e-version of compendium of revised Indian Accounting Standards that incorporates new standard on leases among other amendments. As part of annual improvements, the Ind AS (Indian Accounting Standards), which is based on Intern...

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Category : ICAI | Comments : 0 | Hits : 1003

ICAI announces Virtual MCS Course who wish to apply for Membership
Posted Date : 30-Apr-2019 , 09:19:33 am | Posted By CASANSAAR

The candidates who have qualified CA Final exam w.e.f. November 2002 onwards till 2018 but had not applied for Membership of the Institute due to non completion of GMCS (Course) /Management and Communication Skills Course (MCS Course) can undergo Management and Communication Skills (MCS Course) thro...

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Category : ICAI | Comments : 0 | Hits : 1755

NFRA, ICAI spar over probe into Auditors’ role in IL&FS case
Posted Date : 27-Apr-2019 , 09:12:09 am | Posted By CASANSAAR

The question on who should investigate the role of auditors EY, Deloitte and KPMG in the IL&FS fiasco seems to have triggered a turf war between two regulators — Institute of Chartered Accountants of India, and National Financial Reporting Authority (NFRA).  NFRA, the recently form...

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Category : ICAI | Comments : 0 | Hits : 222

New accounting standard for leases to improve quality of financial info - ICAI
Posted Date : 02-Apr-2019 , 09:33:29 am | Posted By CASANSAAR

The new accounting standard for leases will bring substantial visibility of companies’ lease commitments and improve the quality of financial information about companies, chartered accountants’ body Institute of Chartered Accountants of India (ICAI) said on Monday. Ind AS 116, which s...

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Category : ICAI | Comments : 0 | Hits : 593

UDIN Being Made Mandatory in 2nd Phase for GST & Tax Audit Reports - ICAI
Posted Date : 14-Mar-2019 , 05:43:22 pm | Posted By CASANSAAR

UDIN BEING MADE MANDATORY IN 2nd PHASE FOR GST & TAX AUDIT REPORTS You may be aware that Unique Document Identification Number (UDIN) has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases: All Certifi...

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Category : ICAI | Comments : 0 | Hits : 2872

Govt approves renewl of the MoU between ICAI and ICAEW
Posted Date : 08-Mar-2019 , 08:21:03 am | Posted By CASANSAAR

The government Thursday gave approval to the pact between the Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants in England & Wales (ICAEW). The Union Cabinet, chaired by Prime Minister Narendra Modi, gave ex-post facto approval of the memorandum of ...

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Category : ICAI | Comments : 0 | Hits : 1100

ICAI withdraws announcement on Auditor rotation after govt directive
Posted Date : 16-Feb-2019 , 08:36:36 am | Posted By CASANSAAR

Chartered accountants' apex body ICAI on  Friday withdrew an announcement regarding applicability of rotation of auditors at companies, following a directive from the corporate affairs ministry. In a rare instance, the ministry told the Institute of Chartered Accountants of India (ICAI) ...

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Category : ICAI | Comments : 0 | Hits : 1103

ICAI to train 1 lakh students on GST accounting
Posted Date : 15-Feb-2019 , 10:02:22 am | Posted By CASANSAAR

The Institute of Cost Accountants of India (ICAI) will be launching a course in Goods and Services Tax (GST) accounting in a about a month from now. “We are in discussions with Government and modalities are being worked out,” Amit Anand Apte, President, ICAI told newspersons here on T...

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Category : ICAI | Comments : 0 | Hits : 688

New President & Vice-President of ICAI for the year 2019-20
Posted Date : 12-Feb-2019 , 08:21:43 pm | Posted By CASANSAAR

CA. Prafulla P. Chhajed President, ICAI CA. Atul Kumar Gupta Vice-President, ICAI Many Many Congratulations to the Elected President & Vice President of ICAI for the year 2019-20....

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Category : ICAI | Comments : 0 | Hits : 196

ICAI Accounting Research Foundation to oversee reopening of IL&FS books
Posted Date : 12-Feb-2019 , 09:17:51 am | Posted By CASANSAAR

The ICAI Accounting Research Foundation (ICAI ARF) will oversee the process of reopening the books of crisis-hit IL&FS.  The board of debt-laden Infrastructure Leasing and Financial Services (IL&FS) was taken over by the corporate affairs ministry last year after many group entities ...

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Category : ICAI | Comments : 0 | Hits : 124

UDIN mandatory wef 1st Feb., 2019 for all Certificates - ICAI
Posted Date : 25-Jan-2019 , 11:06:59 am | Posted By CASANSAAR

ANNOUNCEMENT UDIN mandatory wef 1st Feb., 2019 for all Certificates  It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and Stakeholders. ICAI is also receiving number of complaints ...

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Category : ICAI | Comments : 0 | Hits : 1070

Revised Procedure for providing inspection/certified copies of evaluated answer-books to the concerned examinees - ICAI
Posted Date : 25-Jan-2019 , 11:05:45 am | Posted By CASANSAAR

An examinee may apply seeking inspection/certified copies of answer books, within 30 days from the date of declaration of respective result(s), with the applicable fee, online at http://icaiexam.icai.org and pay the applicable fee online. There is no provision for submission of such requests with la...

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Category : ICAI | Comments : 0 | Hits : 388

ICAI signs MoU with ICPA of Kenya
Posted Date : 23-Jan-2019 , 08:58:03 am | Posted By CASANSAAR

The Institute of Chartered Accountants of India (ICAI) has signed the Memorandum of Understanding (MoU) with the Institute of Certified Public Accountants of Kenya (ICPAK) in Nairobi, Kenya on January 21, 2019. Signing of the MoU between ICAI & ICPAK would facilitate collaborative approach to id...

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Category : ICAI | Comments : 0 | Hits : 410

ICAI clarifies rumours on postponement of May 2019 CA Examinations
Posted Date : 17-Jan-2019 , 09:07:01 am | Posted By CASANSAAR

16th January, 2019 IMPORTANT ANNOUNCEMENT REG: May 2019 CA Examinations It has been brought to our notice that the probable date of commencement of May 2019 CA examinations and the time table there on are doing the rounds in the social media. It is hereby clarified that the timetable i...

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Category : ICAI | Comments : 0 | Hits : 942

ICAI reports slams statutory auditors of IL&FS
Posted Date : 05-Jan-2019 , 09:38:35 am | Posted By CASANSAAR

A preliminary report of the Institute of Chartered Accountants of India (ICAI) has said that the statutory auditors of IL&FS did not carry out their functions in a proper manner, highlighting a number of negligences on their part. Being a regulatory body of auditors, the ICAI’s prelimin...

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Category : ICAI | Comments : 0 | Hits : 845

ICAI Election effects - Disciplinary Proceedings against IL&FS Auditors postponed
Posted Date : 28-Dec-2018 , 10:00:52 am | Posted By CASANSAAR

The much-anticipated hearing in the CA Institute’s inquiry against certain statutory auditors of beleaguered IL&FS Group stands postponed. The first hearing, which was scheduled to take place in Kolkata on Friday, has been postponed, sources close to the developments said. There is no i...

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Category : ICAI | Comments : 0 | Hits : 1015

ICAI defers Mandatory use of UDIN to Feb 2019
Posted Date : 27-Dec-2018 , 03:38:26 pm | Posted By CASANSAAR

ANNOUNCEMENT UDIN - A way to authenticate document As you are aware that to secure the certificates/documents attested/certified by practicing Chartered Accountants and for tracing forged/wrong documents prepared by any third person misrepresenting himself as a Chartered Accountant, ICAI had...

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Category : ICAI | Comments : 0 | Hits : 876

ICAI and IIM Ahmedabad sign MoU for training of Chartered Accountants
Posted Date : 12-Dec-2018 , 08:51:39 am | Posted By CASANSAAR

The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding (MoU) with the Indian Institute of Management, Ahmedabad for open-enrolment and customized training programs exclusively for Chartered Accountants. The MoU is likely to benefit the Chartered Accountant...

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Category : ICAI | Comments : 0 | Hits : 1521

ICAI accuses 3 top audit firms of professional misconduct for IL&FS crisis
Posted Date : 10-Dec-2018 , 08:59:17 am | Posted By CASANSAAR

The statutory auditors of Infrastructure Leasing and Financial Services (IL&FS) Ltd – the parent company of debt-laden IL&FS Group - and two of its subsidiaries, IL&FS Transportation Networks Ltd (ITNL) and IL&FS Financial Services Ltd (IFIN), have been held “prima facie ...

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Category : ICAI | Comments : 1 | Hits : 3211

ICAI and CPA Canada sign MoU for greater mobility of Professionals
Posted Date : 22-Nov-2018 , 08:05:59 am | Posted By CASANSAAR

Chartered accountants body ICAI said Tuesday it has signed an agreement with the Chartered Professional Accountants (CPA), Canada. The pact would facilitate mutual recognition of each other's qualification and admit the members in good standing by prescribing a bridging mechanism between the ...

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Category : ICAI | Comments : 0 | Hits : 668

ISA-AT Test will be held on 22nd December 2018
Posted Date : 09-Nov-2018 , 09:15:33 am | Posted By CASANSAAR

Members are hereby informed that the next Information Systems Audit (ISA) Course Assessment Test which is open to the members of the Institute, will be held on 22nd December, 2018 (Saturday) from 9.00 AM to 1.00 PM (IST). An application for admission to the Assessment Test is required to be submi...

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Category : ICAI | Comments : 0 | Hits : 484

Govt looks to Discipline Professional Institutes
Posted Date : 26-Oct-2018 , 09:48:36 am | Posted By CASANSAAR

The government is looking to step up its oversight over three professional institutes, including the Institute of Chartered Accountants of India (ICAI), for their failure to discipline errant auditors, despite being ticked off by Prime Minister Narendra Modi 15 months ago. The government has pull...

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Category : ICAI | Comments : 0 | Hits : 876

Cabinet approves MoU between the ICAI and CPA Afghanistan
Posted Date : 25-Oct-2018 , 08:37:08 am | Posted By CASANSAAR

  The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Certified Professional Accountants Afghanistan (CPA Afghanistan).  The MoU will establi...

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Category : ICAI | Comments : 0 | Hits : 376

Cabinet approves MoU between ICAI and ICPAK
Posted Date : 27-Sep-2018 , 07:53:28 am | Posted By CASANSAAR

  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has  given its approval for signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Institute of Certified Public Accountants of Kenya (ICPAK).  It will he...

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Category : ICAI | Comments : 0 | Hits : 485

Unique Document Identification Number (UDIN) will be mandatory wef 1st January, 2019
Posted Date : 26-Sep-2018 , 09:26:15 pm | Posted By CASANSAAR

It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and stakeholder. ICAI is also receiving number of complaints of forged signatures. To curb the malpractices, the Professional Development Commit...

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Category : ICAI | Comments : 0 | Hits : 525

Suggestions/feedback on evaluation of examination answer books system - ICAI
Posted Date : 16-Sep-2018 , 09:49:31 am | Posted By CASANSAAR

Announcement 15th September, 2018 Sub: Suggestions/feedback on evaluation of examination answer books system. The Group formed to review the evaluation of examination answer book system invites Suggestion/ Feedback of the CA students on the evaluation of examination answer books system th...

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Category : ICAI | Comments : 0 | Hits : 411

ICAI may review rules to stop Auditor exits
Posted Date : 01-Sep-2018 , 08:20:32 am | Posted By CASANSAAR

The central government is considering a review of auditing standards to plug loopholes in the wake of the recent spate of resignation by auditors, many of them exiting listed firms abruptly or ahead of quarterly results. Auditors in as many as 204 listed companies have resigned between January 1 ...

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Category : ICAI | Comments : 0 | Hits : 3404

Open book exam in the elective subjects of Paper 6 of Final (New) course
Posted Date : 03-Aug-2018 , 05:11:07 pm | Posted By CASANSAAR

ICAI had introduced elective subjects in Paper 6 in the CA Final (New) course exam from May 2018 exam and onwards, which is being held on open book methodology. In this regard, it is hereby clarified that it has been decided as follows in respect of Paper 6 Electives- of Final (New) course exam: ...

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Category : ICAI | Comments : 0 | Hits : 385

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