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10 Income Computation and Disclosure Standards (ICDS) Notified by Central Government
Notification No. 33/2015 dated March 31, 2015 Notified ICDS: Accounting Policies, Valuation of Inventories, Construction Contracts, Revenue Recognition, Tangible Fixed Assets, Effects of Changes in Fo...
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Draft of Management Representation Letter to be obtained from the Branch Management
Date: ____________ M/s. XYZ & Co. Chartered Accountants Mumbai Dear Sirs, Sub.: Audit for the period ended 31-3-2015 This representation letter is provided in connection with your audit of the financi...
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Bank Audit Check List for Deposits
Banks are mainly having four types of deposit accounts, namely Saving Bank Accounts, Current Accounts, Recurring Deposits and Term/ Fixed Deposits. However for the purpose of marketing, some banks hav...
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CATEGORIZATION OF A BORROWER ACCOUNT AS NPA FOR BANK AUDIT
Ready Referencer for Advances Categorization, Classification & Provisioning The Third Schedule to the Act requires classification of advances made by a bank from three different angles, viz., nature o...
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Online Empanelment of CA firms for concurrent audit of Andhra Bank
ANDHRA BANK (A Govt of India Undertaking) Inspection & Audit Department Head Office, Koti, Sultanbazar 4th Floor, Hyderabad – 500 095 Phone:040-24683422/406/402 Fax: 24758526 e-mail: co-insp@andhraban...
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ICAI Extends Membership Restoration Amnesty to 30-04-2015
ANNOUNCEMENT EXTENSION OF GENERAL AMNESTY SCHEME FOR RETROSPECTIVE RESTORATION OF MEMBERSHIP (ONE TIME DISPENSATION) DATE: 19.03.2015 With a view to mitigate the hardships being faced by members whose...
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ICAI considers including PAN details of members in ICAI database
Dear Professional Colleague, Sub: Request to give your inputs on inclusion of PAN details of members in ICAI database As we all are aware, every practicing Chartered Accountant is required to get hims...
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All About CIBIL
CIBIL stands for Credit Information Bureau (India) Limited, which, in association with Dun & Bradstreet and TransUnion provides information w.r.t. a person’s credit discipline to financial institution...
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ICAI forms Expert Panel for Addressing Bank Branch Audit Queries for FY 2014-15
AUDITING & ASSURANCE STANDARDS BOARD CONSTITUTES EXPERT PANEL FOR ADDRESSINGBANK BRANCH AUDIT RELATED QUERIES FOR THE FINANCIAL YEAR 2014-15 Dear Members, The bank audit season is around the corner. G...
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Draft Guidelines for Issuing Secretarial Audit Report, Signing and Certification of Annual Return
Dear Members, The Practising Company Secretaries Committee of the Council of the Institute in its 68th meeting held on March 10, 2015 at New Delhi decided to seek views and suggestions on the draft Gu...
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A Brief on benefits of Peer Review of Practicing CA Firms
We, the Chartered Accountants Fraternity, are all aware of the peer review process undertaken by the Peer Review Board of ICAI for the practicing member. With recent development in the reporting requi...
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Engagement of CA firms with IDBI Asset Management Ltd.
Request for Proposal For Appointment of Audit firms for various audit assignments at IDBI Asset Management Ltd. 1.1. IDBI ASSET MANAGEMENT LTD(CIN U65100MH2010PLC199319) a company incorporated under t...
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All About Real Estate Investment and Infrastructure Investment Trusts Sector
Introduction Securities and Exchange Board of India (SEBI) notified the SEBI (Real Estate Investment Trusts) Regulations, 2014 and SEBI (Infrastructure Investment Trusts) Regulations 2014 on 26 Septem...
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Pragmatic and policy directional Budget: ICAI
Pragmatic and policy directional Budget to bring Achhe Din and ease of doing business: ICAI The Institute of Chartered Accountants of India (ICAI) welcomes the ‘Pragmatic and policy directional’propos...
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ICAI President’s Message – March 2015
Dear Friends, Nothing can bring you peace but yourself. Nothing can bring you peace but the triumph of principles, writes Ralph W. Emerson. I too believe in the power of self and principles, which we...
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Necessity for a separate law for all Tax Practitioners in India
Ref: DYP/MVK/51/Gen Dt.01-02-2015 To Hon’ble Shri Arun Jaitely, Union Minister for Finance, Ministry of Finance, North Block, Government of India, NEW DELHI. Honoured Sir, Sub:- Tax Practitioners in o...
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RBI Policy on eligibility, empanelment & selection of Statutory Auditors for 2014-15
RESERVE BANK OF INDIA www.rbi.org.in Ref. DBS.ARS No. /08.91.008/2014-15 – Date- February 06. 2015 The President The Institute of Chartered Accountants of India. ICAI BHAWAN’, Post Box Number 7100, In...
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Implementation of Ind(AS)
With the G.S.R dated 16/Feb/2015 notified on 22/Feb/2015, Central Government in consultation with NACAS (National Advisory Committee on Accounting Standards have introduced the Companies (Indian Accou...
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Exposure Draft: Classification of Liabilities (Proposed amendments to IAS 1)
Exposure Draft published by the International Accounting Standards Board (IASB) for comment only. Comments on the Exposure Draft need to be received by May 10, 2015. The International Accounting Stand...
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ICAI Guidance Note on Accounting for Rate Regulated Activities
Guidance Note on Accounting for Rate Regulated Activities (Second Edition : February, 2015) – (18-02-2015) The ICAI has issued the Second Edition of the Guidance Note on Accounting for Rate Regulated...