Category Archives: Background Material

Free Background Material on Import and Exports (Jan 2019) : Download

By | February 14, 2019

e-Background Material on Customs and FTP (January 2019) Each country has its own laws and regulations for the import and export of goods into and out of a Country, which its Customs Authority enforces. The import or export of s ome goods may be restricted or forbidden. A customs duty is a tariff or tax… Read More »

LIC Term Insurance for Chartered Accountants

By | February 13, 2019

LIC Term Insurance for Chartered Accountants ICAI-LIC Group Term Insurance SchemeArranged by:Committee for Capacity Building of Members in Practice (CCBMP) The Committee for Capacity Building of Members in ICAI is facilitating ICAI-LIC Group Insurance Scheme for Chartered Accountant Members and their spouse. The salient features of the scheme: Competitive rate of premium for Insurance. Payment… Read More »

Guidance Note Bank Audit 2019 Section B – Foreign Exchange Transactions and Integrated Treasury

By | January 19, 2019

Guidance Note on Audit of Banks 2019 edition: Section B – Foreign Exchange Transactions and Integrated Treasury issued by the Auditing and Assurance Standards Board – (18-01-2019) Download Guidance Note on Audit of Banks 2019 edition Section B – Click here Related Post Guidance Note on Audit of Banks 2019

Extension of CPE hours requirement for Calendar Year 2018

By | January 16, 2019

Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2018” – from 31st December, 2018 to 31st January, 2019 – (11-01-2019) FOR INFORMATION OF THE MEMBERS Subject: Extension of last date “for complying with the CPE hours requirements for the Calendar Year 2018” – till 31st January, 2019 This… Read More »

ICAI initiatives for reforms in the CA Course and Examination System.

By | December 25, 2018

Latest initiatives being undertaken by ICAI towards reforms in the CA Course and Examination System. – (21-12-2018) The Institute of Chartered Accountants of India (ICAI) has always stood by the students and strived to address their concerns from time to time. Considering the dynamic global scenario, ICAI has taken proactive and exemplary initiatives to facilitate… Read More »

CAG Empanelment of Chartered Accountant Firms/LLPs for 2019-2020

By | December 21, 2018

Empanelment of Chartered Accountant Firms/LLPs for the year 2019-2020 OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 9, DEEN DAYAL UPADHYAYA MARG, NEW DELHI – 110124 Empanelment of Chartered Accountant Firms/LLPs for the year 2019-2020 Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller… Read More »

Exposure Draft of Amendments in Ind AS XBRL Taxonomy

By | December 16, 2018

Announcement Exposure Draft of Amendments in Ind AS XBRL Taxonomy (Comments to be provided by 30th December, 2018) Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies. XBRL taxonomy covers the requirements of Accounting Standards, Companies Act and MCA specific requirements. XBRL taxonomy,… Read More »

ICAI Revised Implementation Guide to SA 230, “Audit Documentation”

By | December 4, 2018

Revised Implementation Guide to SA 230, “Audit Documentation” issued by the Auditing and Assurance Standards Board – (04-12-2018) Foreword Preface Chapter 1: Summary of the Standard …………………………….. Chapter 2: Introduction ……………………………………………….. Chapter 3: FAQs on SA 230 …………………………………………. Chapter 4: Checklist…………………………………………………… Appendix: Illustrative Working Paper Format………………… Download Click here”

ICAI Guide on auditors Resignation/ Withdrawal from an Audit Engagement

By | December 1, 2018

Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements Foreword In 2018, there have been number of mid-term resignations by auditors particularly auditors of listed companies. The matter being a concern for various stakeholders it has been decided to examine the reasons and circumstances leading to resignation of auditors and… Read More »

CA need not to be a Graduate to become Registered Valuer : ICAI

By | November 28, 2018

Chartered Accountants need not to be a Graduate to become Registered Valuer ICAI Press Release 26.11.2018 Valuation is a highly specialised field which can be performed by the professionals having a blend of finance, accounting and finance. Chartered Accountants are best suited for valuation as at various levels of Chartered Accountancy course, the syllabus includes… Read More »

Standards on Internal Audit (SIAs) as issued by ICAI

By | November 27, 2018

Standards on Internal Audit (SIAs) as issued by the Institute of Chartered Accountants of India – (27-11-2018) Preface to the Framework and Standards on Internal Audit  Framework Governing Internal Audits  Basic Principles of Internal Audit  Standard on Internal Audit (SIA) 210, Managing the Internal Audit Function  Standard on Internal Audit (SIA) 220, Conducting Overall Internal… Read More »

Amendment to Chartered Accountants (procedure of investigations of Professional and other misconduct of Cases) Rules, 2006

By | November 20, 2018

Amendment to the Chartered Accountants (procedure of investigations of Professional and other misconduct of Cases) Rules, 2006 – (19-11-2018) MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 29th October, 2018 (v.4.R. 1072(E).-In exercise of the powers conferred by clauses (c) and (d) of sub-section (2) of section 20A read with sub-section (4) of section 21… Read More »

Hosting of Draft Bank Branch Auditors’ Panel for the year 2018-19

By | November 20, 2018

Hosting of Draft Bank Branch Auditors’ Panel for the year 2018-19 The Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2018-19 has been hosted at www.meficai.org for indicating the category of the applicants of Multipurpose Empanelment Form for the year 2018-19. The applicants would be able to view the reasons, (wherever applicable) in the… Read More »

ISA Assessment Test (ISA – AT) December 2018

By | November 9, 2018

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IMPORTANT ANNOUNCEMENT Subject: Information System Audit – Assessment Test (ISA – AT), December 2018 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 22 nd December, 2018 (Saturday) from 9.00… Read More »

ICAI Technical Guide on Functioning of Audit Committee & Its Review Checklist :Download

By | October 30, 2018

Technical Guide on the Functioning of Audit Committee & Its Review Checklist The Audit Committee is inter alia responsible for liaison with the management; internal and statutory auditors, reviewing the adequacy of internal controls and compliance with the significant policies, procedures and reporting to the Board on key issues. The idea of having independent directors… Read More »

ICAI Invitation to Empanel as a Resource Person for Specific Booklets on GST on Various Sectors

By | October 26, 2018

Institute of Chartered Accountants of India Invitation to Empanel as a Resource Person to bring out Industry Specific Booklets on GST on Various Sectors – (24-10-2018) Madam/Sir, The Committee for Members in Industry & Business (CMI&B) of ICAI has taken an initiative to bring out industry specific booklets on GST on various sectors i.e. Retail,… Read More »

Person reported for cheating 50 clients of Rs. 7.40 cr is not CA : ICAI

By | October 18, 2018

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) Misc/PRG/LE-6/2018 October 17, 2018 The Editor Hindustan Times, Mumbai 6th /9th Floor, Tower 2, Indiabulls Finance Centre LBS Marg, Senapati Bapat Marg, Prabhadevi Mumbai – 400013 Dear Sir Sub: News Item titled “EOW books Ghatkopar CA for cheating 50 clients of Rs. 7.40cr”… Read More »

Mandatory Usage of UDIN by Chartered Accountants w.e.f. 1st January, 2019 to prevent forgery

By | October 17, 2018

PRESS RELEASE by ICAI on 10.10.2018 Mandatory Usage of UDIN by Chartered Accountants w.e.f. 1st January, 2019 to prevent forgery The Division Bench of Hon’ble Calcutta High Court had passed an order on 21st June, 2018 in the matter of ITAT 22/2015 in respect of Binod Kumar Agarwala vs Commissioner of Income Tax wherein ICAI… Read More »

Mandatory UDIN for Chartered Accountants Certificate w.e.f 01.01.2019

By | September 27, 2018

Mandatory UDIN for Chartered Accountants Certificate w.e.f 01.01.2019 ANNOUNCEMENT by ICAI on 26.09.2018 Unique Document Identification Number (UDIN) 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,… Read More »

Get CA Firm Registration Number in 24 Hours online : ICAI

By | September 12, 2018

ANNOUNCEMENT GET FIRM REGISTRATION NUMBER (FRN) WITHIN 24 HOURS Professional Development Committee of ICAI is pleased to inform that in order to promote the ‘Ease of Business’ among our members, an online facility has been developed for registration of proprietorship firm by Chartered Accountants within 24 hours. Any member desiring to establish the proprietorship firm… Read More »