The executive summary of report of comptroller and auditor General of India on performance audit on appreciation of chartered accountant reporting in assessment proceeding is given blow. The Income Tax Act, 1961 (Act) contains several provisions which mandate the assessees to furnish audit reports and certificates issued by the ‘Accountant’ in the prescribed Form for meeting … Read more
Tuesday 11 Maharashtra Din 01-May-2015 Friday 12 Buddha Pournima 04-May-2015 Monday 13 Ramzan Id (Id-UI-Fitar) (Shawal-1) 18-Jul-2015 Saturday 14 Independence Day 15-Aug-2015 Saturday 15 Parsi New Year (Shahenshahi) 18-Aug-2015 Tuesday 16 Ganesh Chaturthi 17-Sep-2015 Thursday 17 Bakri Id (Id-UI-ua) 25-Sep-2015 Friday 18 Mahatma Gandhi Jayanti 02-Oct-2015 Friday 19 Dasara 22-Oct-2015 Thursday 20 Moharum 24-Oct-2015 Saturday … Read more
Employee’s Provident Fund Organisation (EPFO) moves to Accrual Accounting The Institute of Chartered Accountants of India (ICAI) through its research arm, ICAI Accounting Research Foundation (ICAI ARF) signed an MoU with Employee’s Provident Fund Organisation (EPFO) on December 11, 2014. As per the MoU, ICAI ARF will undertake a Pilot Study Project with EPFO to … Read more
Example of an Audit Engagement Letter Audit of Financial Statements under the Companies Act 2013 and the Rules Thereunder (When Reporting u/s 143(3)(i) of the Companies Act, 2013 is Not Applicable) (to be added to Appendix 1 to SA 2101) To, The Board of Directors of ……………… (name of the Entity) (Address) Dear Sirs, I … Read more
Example of an Audit Engagement Letter (to be added to Appendix 1 to SA 2101)
Press Information Bureau Government of IndiaMinistry of Personnel, Public Grievances & Pensions 17-December-2014 17:04 IST Uploading RTI Applications A facility to upload the reply of RTI applications and first appeals on the respective website of the Ministry/Department has been started from 31st October, 2014 vide Office Memorandum No. 1/1/2013-IR dated 21/10/2014 of this Department. All the … Read more
Press Information Bureau Government of IndiaMinistry of Finance 17-December-2014 11:38 IST Ministry of Finance Issues Clarifications with Regard to Different Aspects of the Pradhan Mantri Jan Dhan Yojana (PMJDY) Including about Availing of Benefits Under the Yojana Various queries or questions have been raised from time to time with regard to different aspects of the … Read more
Press Information Bureau Government of India Ministry of Finance 12-December-2014 16:33 IST Relevant Portions of the Second Report of the Special Investigation Team (SIT) on Black Money Released; On the Directions of SIT, CBDT Directs Various Assessing Officers to Finalize the Assessments for all Actionable Cases (427), whose names are appearing in the HSBC List … Read more
Regulation 5 (3) of the Chartered Accountants Regulations, 1988 provides for eligibility to become a fellow member of the Institute on the basis of service in specified industries and organizations An associate member is eligible for admission as a Fellow Member if he/she satisfies the eligibility conditions laid down under Regulation 5(3) of the Chartered … Read more
A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: a) Complete at least 90 CPE credit hours in a rolling period of three-years. b) Complete minimum 20 CPE credit hours of structured learning in each calendar year. C) … Read more