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Posted Date : 07-Jan-2012 , 08:31:36 pm | Posted By CASANSAAR
There's more trouble brewing for V Vijay Sai Reddy, who was recently arrested by the CBI, with the Institute of Chartered Accountants of India (ICAI) preparing ground to initiate proceedings against him. A chartered accountant and founder of audit firm V S Reddy Associates, Vijay Sai is be...
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Posted Date : 06-Jan-2012 , 09:58:26 pm | Posted By CASANSAAR
"The global financial crisis and the current international economic environment has brought into focus significant challenges for governments across the world. India has also been impacted and continues to face challenges on several fronts. Yet, I would say that we have done well in maintaining the ...
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Posted Date : 06-Jan-2012 , 08:31:24 am | Posted By CASANSAAR
After two years of investigation, the verdict is in. The Institute of Chartered Accounts of India (ICAI) has found Satyam’s former chief financial officer Srinivas Vadlamani and PWC auditor Srinivas Talluri, who signed the company’s finan...
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Posted Date : 05-Jan-2012 , 06:27:07 pm | Posted By CASANSAAR
GENERAL AMNESTY FOR RETROSPECTIVE RESTORATION OF NAMES FROM REGISTER OF MEMBERS AND CERTIFICATE OF PRACTICE - ICAI. With a view to mitigating the hardships being faced by such members whose names stand removed as on date due to non-payment of membership fee, the Council has de...
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Posted Date : 01-Jan-2012 , 10:40:18 pm | Posted By CASANSAAR
For the sake of information and academic guidance of students, specified material like question papers, suggested answers, revisionary test papers, supplementary study material, result etc pertaining to CA examinations are being published and hosted in the website www.icai.org from time to tim...
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Posted Date : 01-Jan-2012 , 02:29:51 pm | Posted By CASANSAAR
FOR INFORMATION OF THE MEMBERS Subject: Extension of last date for complying with the CPE hours requirement for the calendar year 2011 for the members holding COP from 31st December, 2011 to 31st March, 2012This is for kind information of the members that the Council of the Institute has decide...
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Posted Date : 25-Dec-2011 , 08:54:09 am | Posted By CASANSAAR
Banking and accounting regulators don’t see eye to eye, as RBI wants the practice relaxed even for public sector banks. Private sector banks may have their branches statutorily audited by an RBI-approved panel, on the pattern of public sector bank audits, if the central bank accepts a...
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Posted Date : 24-Dec-2011 , 10:03:30 am | Posted By CASANSAAR
In what could be a major relief to India Inc, the accounting regulator ICAI has recommended that companies be allowed to account for losses arising from foreign exchange derivative trade over several years. The measure, according to sources, would prevent the companies ...
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Posted Date : 24-Dec-2011 , 09:59:58 am | Posted By CASANSAAR
Accounting regulator ICAI today said it will decided the case concerning former CFO of Satyam Computer in the Rs 14,000-crore accounting scam within a week. "The disciplinary committee of ICAI will take a decision based on the available documents against ex-Satyam CFO. The report will be finalis...
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Posted Date : 20-Dec-2011 , 08:16:36 am | Posted By CASANSAAR
The three bills will allow chartered accountants, cost and works accountants and company secretaries to have a choice to form a business model of limited liability partnership (LLP).An amendment bill seeking to bring professionals for the management of national highways was also introduced in ...
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Posted Date : 15-Dec-2011 , 08:36:47 am | Posted By CASANSAAR
OK Balraj, Chief Financial Officer of Escorts Limited, was conferred the 'Best CFO in Engineering & Capital Goods Sector' by the Institute of Chartered Accountants of India (ICAI), India's premier accounting and auditing body, at ICAI's 5th Annual Awards function at Palace Grounds, Bangalore....
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Posted Date : 14-Dec-2011 , 07:59:47 am | Posted By CASANSAAR
Various statutes prevailing in India like DVAT,2004 requires the assessee to furnish an audit report in a form duly signed and verified by such particulars as may be prescribed under section 44AB of the Income-tax Act, 1961 i.e. Form 3CB/3CD. This had lead to the doubts as to whe...
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Posted Date : 14-Dec-2011 , 07:54:20 am | Posted By CASANSAAR
With rupee hovering near record lows against the US dollar, India Inc is down with huge ‘notional foreign exchange losses'. However the companies, which had earlier approached the Institute of Chartered Accountants of India (ICAI) asking for an expansion ...
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Posted Date : 07-Dec-2011 , 08:40:06 am | Posted By CASANSAAR
Accounting regulator ICAI has barred two Lovelock & Lewes auditors from practice for life and slapped a penalty of Rs 5 lakh each on them for their role in the Rs 14,000-crore Satyam accounting scam. A probe by an ICAI "disciplinary committee has found Chartered Accountants Pulavarthi Siva P...
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Posted Date : 04-Dec-2011 , 09:08:42 am | Posted By CASANSAAR
hairman of the Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI), Shriniwas Joshi, categorically denounced threats of physical violence made against one of the members of the chartered accountant community. Joshi was speaking at the inaugural function o...
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Posted Date : 03-Dec-2011 , 08:44:27 am | Posted By CASANSAAR
Institute of Chartered Accountants of India president G. Ramaswami said that the department enquiry was continuing against the auditors facing trial in the Satyam fraud case and the ICAI Disciplinary Committee would meet on December 18 to take the final decision. Addressing a press conference here ...
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Posted Date : 29-Nov-2011 , 08:18:10 am | Posted By CASANSAAR
Accounting regulator ICAI is examining violation of certain clauses of the Chartered Accountants Act by multinational audit firms, Parliament was informed today. "Some instances of violations have come to the notice of the Institute of Chartered Accountants of India (ICAI) which is examining the...
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Posted Date : 26-Nov-2011 , 07:57:36 am | Posted By CASANSAAR
There is a huge demand for Chartered Accountants (CA) and it is estimated that India will require another 5 lakh CAs by 2020.This was stated by C A Shanmukh Sundaram, chairman of Southern India RegionalCouncil of The Institute of Chartered Accountants of India (SIRC of ICAI) . ...
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Posted Date : 24-Nov-2011 , 02:48:05 pm | Posted By CASANSAAR
The government has asked the accounting regulator to remind companies that they have only a week left for switchover to the new financial reporting format, after data showed less than 7% of companies had complied till a week ago. All listed companies and some unlisted ones are required to file th...
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Posted Date : 18-Nov-2011 , 08:40:37 am | Posted By CASANSAAR
G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011. IFAC is a global organization for the ac...
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Posted Date : 16-Nov-2011 , 08:09:23 am | Posted By CASANSAAR
Dear Professional Colleague, As you must be aware, recently the ICAI had represented before Central Board of Direct Taxes (CBDT) seeking tax audit data based on returns e-filed during the year 2010-11. I would like to inform you that in response to the repres...
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Posted Date : 15-Nov-2011 , 07:44:01 pm | Posted By CASANSAAR
In terms of the Council decision dated 14 July, 2011, following guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Accountants have been finalized which are applicable for conversion of CA firms into LLPs or formation of new L...
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Posted Date : 15-Nov-2011 , 08:27:11 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has initiated an inquiry against Deloitte Touche Tohmatsu Ltd over the alleged increase of valuation of Jagati Publications owned by YSR Congress leader Y. S. Jagan Mohan Reddy. Mr G. Ramaswamy, president of ICAI — the regulatory body of chartere...
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Posted Date : 12-Nov-2011 , 08:48:46 am | Posted By CASANSAAR
In a move that will depress the top line of several leading real estate companies, an upcoming accounting change aims to reduce the discretion available to them on how to compute revenues. The accounting regulator is working on a 'guidance note' that will, for the first time, define when and how ...
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ICAI’s reply to RTI application filed regarding ‘Empanelment for Centralised Allotment of Tax Audit’Posted Date : 05-Nov-2011 , 08:59:37 am | Posted By CASANSAAR
In reply to the RTI application dated 21.09.2011 filed by Mr. Suresh Wadhwa, ICAI has held as follows:- It is held that a matter regarding Empanelment for Tax Audit was discussed in the council at its 221st Meeting held on 6th , 07th and 08th December 2001 an...
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Posted Date : 04-Nov-2011 , 08:48:43 am | Posted By CASANSAAR
The apex body of accounting professionals, Institute of Chartered Accountants of India (ICAI), has renewed its call to abolish the tax accounting standards, saying only its standards should be accepted. The need to keep two sets of accounting records, one as per the requirements of the C...
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Posted Date : 31-Oct-2011 , 09:00:58 am | Posted By CASANSAAR
Taking a tough stand against the practice among banks to make high provisioning that often leads to a steep fall in profits — especially the move by the State Bank of India after the change of guard this year — the Institute of Chartered Accountants of India (...
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Posted Date : 29-Oct-2011 , 09:53:39 am | Posted By CASANSAAR
The apex accounting standards-setting body, Institute of Chartered Accountants of India (ICAI), will ask the finance ministry to drop plans for separate accounting standards for tax computation purposes. The move comes in the backdrop of a recommendation made by an expert committee constitu...
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Posted Date : 19-Oct-2011 , 08:27:07 am | Posted By CASANSAAR
Like charity, scrutiny too, it seems, begins at home. After pitching for more disclosure norms for corporates, the Institute of Chartered Accountants of India (ICAI) now wants to usher in more transparency in its own functioning. The accounting regulator i...
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Posted Date : 17-Oct-2011 , 08:12:05 am | Posted By CASANSAAR
The ministry of corporate affairs, or MCA, has given Indian firms another year to spread their liabilities on account of foreign exchange borrowings accruing from fluctuations in foreign exchange, or forex, rates. While getting more time to amortize such liabilities will come as a breather for a ...
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