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Issuance of New Revenue Standard Ind AS 115
Press ReleaseIssuance of New Revenue Standard Ind AS 115An important development in Ind AS Framework i.e. a new Ind AS in the area Revenue recognition has been notified by Ministry of Corporate Affair...
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Revised SA 299 Joint Audit of Financial Statements
Standard on Auditing (SA) 299 (Revised) Joint Audit of Financial StatementsStandard on Auditing (SA) 299 (Revised), “Joint Audit of Financial Statements” should be read in the context of the “Preface...
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Operation of MNC Firms: Post SC Judgment ICAI forms group
No.M-626/08/MAF&PWC/2018 Dated: 27th March, 2018ALL MEMBERS OF THE COUNCILMadam/Dear Sir,Sub.: Constitution of a Group to examine the issues arising out of the Judgement dated 23.02.2018 of the Hon’bl...
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ICAI announces scheme for retrospective restoration of membership
ANNOUNCEMENT SCHEME FOR RETROSPECTIVE RESTORATION OF MEMBERSHIPWith a view to mitigate the hardships being faced by members whose names stand removed as on date due to non-payment of membership fee, t...
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ICAI members to pay Membership/ COP Fees by 30.09.2018
Kind Attention of the MembersPayment of Membership Fee and Certificate of practice Fee for the year 2018-19We take the opportunity to request you to renew your membership with the Institute by remitti...
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Statutory branch audit of branches of PSU banks- In wake of recent developments/ irregularities in PNB
KSCAA along with Lucknow Chartered Accountants Society, Bombay Chartered Accountants Society and Chartered Accountants Ahmedabad have made a joint representation on ‘Statutory audit of branches of PSU...
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ICAI to take Stringent Action Against Adoption of Unfair Means in exams
Stringent Action Against Adoption of Unfair Means – (14-03-2018)Cases of adoption/attempt to adopt unfair means are reported in respect of the examinations held every time. In respect of the Examinati...
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ICAI announces financial assistance for needy & meritorious CA students
The Chartered Accountants’ Students Benevolent Fund (CASBF) – (13-03-2018)The Board of Trustees has decided to provide financial assistance of Rs. 1500/- p.m, for articled assistants who are registere...
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Advisory for CAs on Allocation of Work among Joint Auditors in case of Bank Audits
Advisory for the Members regarding Allocation of Work among the Joint Auditors in case of Bank Audits 1 As you are aware that ICAI has issued Standard on Auditing (SA) 299, “Responsibility of Joint Au...
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Need to rekindle credibility as core to our existence & growth: ICAI
My dear Professional Colleagues,As I have embarked in my role as the 66th President of ICAI, effective 12th February, I carry with me a sense of inherent pride and elation. I am equally conscious of t...
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Cabinet approves Establishment of NFRA to regulate auditing profession
Cabinet approves Establishment of National Financial Reporting AuthorityThe Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for establishment of National Finan...
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PNB Scam: Not prudent to draw any conclusion against CAs and profession before anything gets established: ICAI
Press Release issued by ICAI ICAI, robust regulator of accounting and auditing profession in India, committed to conclude the disciplinary process against those found involved in the PNB scam ICAI is...
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Implementation Guide to Standard on Auditing (SA) 701
,Communicating Key Audit Matters in the Independent Auditor’s ReportThe Institute of Chartered Accountants of India(Set up by an Act of Parliament)New DelhiStandards on Auditing issued by the Institut...
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Steps initiated by ICAI on Punjab National Bank Matter
The attention of Institute of Chartered Accountants of India (ICAI) has been drawn to various media reports highlighting the irregularity happened in Punjab National Bank (PNB) revealing that the Bank...
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ICAI elects President and Vice-President for the year 2018-19
A man of professional wisdom, vision and strong organisational skills with a firm belief in inclusive growth of Indian accountancy profession, CA. Naveen ND Gupta has been elected as the new President...
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Exposure Draft of Ind AS 117, Insurance Contracts
ED/Ind AS/2018/03Exposure DraftIndian Accounting Standard (Ind AS) 117, InsuranceContracts(Last date for Comments: March 31, 2018)Issued byAccounting Standards BoardThe Institute of Chartered Accounta...
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ICAI clarifies regarding incorrect news reported in media – I-T refund racket in Bengaluru
Clarification regarding incorrect news reported in media – I-T refund racket in Bengaluru.Press ReleaseThe Institute of Chartered Accountants of India (ICAI) has come across a news-item titled ‘I-T bu...
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Ind AS Transition Facilitation Group Clarification Bulletin 14
Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 14‘Ind AS Transition Facilitation Group’ (ITFG) of Ind AS Implementation Committee has been constituted for providing clarifications...
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ICAI Notifies Changes in CA May 2018 Examination Timings
IMPORTANT ANNOUNCEMENTJanuary 30th, 2018Examination Timings – CA May – 2018 ExaminationsAn announcement dated 9th January 2018 informing the schedule and timings of the CA Examinations-May 2018 was ho...
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Exposure Draft of upgraded Accounting Standards for Public Comments
Dear Professional Colleagues,As you are kindly aware, that the Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs in February, 2015, have been applicable to the spe...