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MCA releases Revised Form 23C, Form 23D, Form I-XBRL & Form A-XBRL
The Ministry of Corporate Affairs has released the new forms relevant to Costing Rules prior to Companies (Cost Records and Audit) Rules 2014: FORM 23C [Pursuant to section 233B(2) of Companies Act, 1...
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Bank of Baroda invites RFP for Concurrent Auditors Appointment
Bank of Baroda, Central Internal Audit Division, HO, Baroda invites Proposal (RFPs) for Appointment of -02- Concurrent Auditors for Branches/RBOs/CBOs/Other Units for South Gujarat Zone (Baroda) & -01...
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ICAI Request members to improve annual ROC filing compliance
Sub: Request for improving of annual filing compliance by pursuing companies so as to help the Ministry of Corporate Affairs in achieving the targeted compliance. As the members are already aware that...
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ICAI Clarification in respect of MEF Empanelment 2016
PD/A-40/20166th October, 2016 ANNOUNCEMENT – CLARIFICATIONS IN RESPECT OF MEF 2016-17 Applicants of MEF who are (i) Applying as “Proprietary Concern” and also having Sole/Individual practice registere...
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Accounting Standard (AS) 14- Accounting for Amalgamations
Revised ‘Accounting Standard (AS) 14- Accounting for Amalgamations’ is applicable for the accounting periods commencing on or after April 1, 2017 after considering Companies (Accounting Standards) Ame...
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Accounting Standard (AS) 13- Accounting for Investments
This Revised ‘Accounting Standard (AS) 13- Accounting for Investments’ is applicable for the accounting periods commencing on or after April 1, 2017 after considering Companies (Accounting Standards)...
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Revised AS 10 – Property, Plant and Equipment
This Revised ‘Accounting Standards (AS 10 – Property, Plant and Equipment’ is applicable for the accounting periods commencing on or after April 1, 2017 after considering Companies (Accounting Standar...
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Revised AS 4 Contingencies & Events Occurring After Balance Sheet Date
This Revised ‘Accounting Standards (AS) 4-Contingencies and Events Occurring After the Balance Sheet Date’ is applicable for the accounting periods commencing on or after April 1, 2017 after consideri...
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Revised Accounting Standard- 2 Valuation of Inventories
This Revised ‘Accounting Standard (AS) 2- Valuation of Inventories’ as applicable for the accounting periods commencing on or after April 1, 2017 after considering Companies (Accounting Standards) Ame...
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MEF Empanelment 2016-17- Part B & C made live till 31.10.2016
Dear Professional Colleagues, Season’s Greetings, Sub: PART B and PART C of MEF 2016-17 has been made live till 31st October, 2016 to enable the applicants to fill/edit the same. As you are aware, MEF...
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ICAI withdraws application Guide on Schedule II to Companies Act, 2013
Sub: Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective as the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II...
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ICAI withdraw GNs on FBT & Revaluation Reserve for Issue of Bonus Shares
Withdrawal of two Guidance Notes on Accounting – (07-10-2016) The Council, at its 359th meeting, held on September 16-17, 2016, has decided to withdraw the following two Guidance Notes on Accounting a...
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Guidance Note on Combined and Carve-Out Financial Statements
Guidance Note on Combined and Carve–Out Financial Statements (September 2016) – (28-09-2016) Guidance Note on Combined and Carve-Out Financial Statements Introduction 1. Generally, consolidated financ...
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Amendment to AS 2, 4, 6, 10, 13, 14, 21 and 29
issued by the Institute of Chartered Accountants of India, pursuant to issuance of amendments to Accounting Standards by the MCA (September 2016) – (28-09-2016) 1. The Council of the Institute of Char...
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ICAI President’s Message October 2016
Dear professional colleagues, In India, October begins with celebrations of the birthday of the Father of the Nation. Long before the smart CRM tools found their way into our daily lives, Mahatma Gand...
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Guidance Note on Reports in Company Prospectuses
Exposure Draft Guidance Note on Reports in Company Prospectuses (Revised 2016) (Last date for comments: October 10, 2016) Issued by- Auditing and Assurance Standards Board Your comments on this Exposu...
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Committee on TDS- Solicits views for submission of suggestions
Dear Professional Colleague, Subject: Standing Committee on TDS – Soliciting views for submission of suggestions The Ministry of Finance, Department of Revenue has formed a “Standing Committee on TDS”...
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ICAI form group to Examine desirability / Feasibility of having a New Financial Year
Study Group for Examining the Desirability and Feasibility of having a New Financial Year Council Affairs/M-626/20165th September, 2016 ALL MEMBERS OF THE COUNCIL Madam/Dear Sir, The Direct Taxes Comm...
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ICAI President Message- September 2016
Dear Professional Colleagues, The whole nation celebrates 5th September as Teachers’ Day, which is the birthday of our second President Dr. Sarvepalli Radhakrishnan. He had said that teachers should b...
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Guide on Auditor’s Reports under IAS for Transition Phase
Implementation Guide on Auditor’s Reports under Indian Accounting Standards for Transition Phase During the last year, the Ministry of Corporate Affairs had issued the roadmap for the implementation o...