These include the Professional Education-I, Professional Education-II and Final examination.
The letters were meant to assess if there had been any professional misconduct by any auditors of Reliance Infra and Reliance National Resources Ltd that led to the alleged misrepresentation of investments by these companies.
The fraud was disclosed by Satyam founder Ramalinga Raju himself in January.
The Institute of Chartered Accountants of India has offered technical information for drafting the rules for valuing employee stock options for calculating the fringe benefit tax.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.
Mahesh Londhe, son of a Pune bhel vendor cleared CA in first attempt. Londhe, who was sponsored by Thermax CEO MS Unnikrishnan, now wants to take up a corporate job in a manufacturing firm
Firms denied peer review certificate may be barred from auditing
It is the ICAI which has the wherewithal to understand what the professional issues involved are and it is they who should be in charge of the solution, believes Rahul Roy.
"The government has always believed in stable policies. I am sure that this will continue in the coming budget," ICICI Bank's non-executive chairman, K V Kamath, told reporters on the sidelines of a function organised by the Institute of Chartered Accountants of India in Mumbai.
Institute of Chartered Accountants of India has suggested a four-tier income tax structure for individuals, abolition of surcharge, a 30 per cent corporate tax and a scheme for taxing agriculture income by putting it in the Union List.\n\n\n\n
There are three Price Waterhouse firms and four Price Waterhouse & Co firms in PriceWaterhousCoopers' network of firms in India. Each firm is a separate partnership firm, with a maximum of 20 partners each, with head offices in the cities in which they are registered. Each of these is registered with ICAI. The Pricewater House registered in Bangalore had audited Satyam.
A recent clarification by the Institute of Chartered Accountants of India regarding disclosure norms for derivative contracts had specified that companies would have to disclose mark-to-market losses from such transactions, financial year 2007-08 onwards. Sources now say companies have the leeway to avoid reporting losses on derivative contracts, as there are enough mechanisms in accounting standards that lay out the guiding principles in this regard.
Students seek transparency! Want to know the real reason for the revision in the results of the final ICAI-conducted CA exam.
On the back of the Satyam episode, the ICAI is planning to seek more power for chartered accountants so that they are not mere qualifiers. In case they see any divergence in the numbers provided by the company, there must be a way to compel a restatement of accounts, according to the ICAI. It has asked its members to 'to be much more vigilant and rely on external information than be dependent on what the management provides.'
The government today expanded the three-member Satyam board to six to include S Balakrishnan of Life Insurance Corporation, Tarun Das, chief mentor of the Confederation of Indian Industry and T N Manoharan, former president of the Institute of Chartered Accountants of India.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
Market regulator Sebi has barred 197 foreign funds, including those managed by global financial conglomerates like HSBC, Deutsche Bank and Standard Chartered, and 342 sub-accounts from further trading in stock market.
The Institute of Company Secretaries of India is looking forward to expanding the conventional roles of chartered accountants to non-statutory areas like labour law audit and certification, secretarial audit of hotel and banking industries.
With economic offences seeing an increase, the CBI has written to the Institute of Chartered Accountants of India (ICAI) to probe the growing number of white collar crimes.
The Indian Institute of Chartered Accountants in Mumbai dismissed the batsman's claim for Rs 22 lakh.
26 chartered accountants associated with such shell companies have also been identified
Meanwhile, company secretaries' body ICSI is also writing to the company secretary of Satyam Computer today to submit a report on corporate governance in a week. ICSI president Keyoor Bakshi said the government had earlier asked the institute to look into the revelations made by Satyam Computer's founder President Ramalinga Raju.
In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of company secretaries.
The government said in Friday it was negotiating aggressively at the World Trade Organisation to facilitate easy movement of professionals across borders to deliver services.
The latest passion of the Institute of Chartered Accountants of India (ICAI) is not selling blazers. Nor is it inauguration of residential courses. It is IFRS, IFRS and IFRS. Or International Financial Reporting Standards.
