Archive for the ‘ICAI’ Category

An Insight into IFRS 1 – First Time Adoption of IFRS

March 14, 2010 2 comments

We are happy to notice that article sent by one of our active cactus members has been published in The Chartered Accountant Student, March 2010 issue.

I’m attaching the PDF copy of the article for those who haven’t received their copies of CA Student yet.

click to read –> An Insight into IFRS 1 – First Time Adoption of IFRS



January 28, 2010 2 comments

Here is the Programme Schedule of classes for CA-CPT & PCC students at gyandarshan channel conducted by ICAI



Categories: ICAI Tags: , , , , , , , ,

Booth-capturing at ICAI polls

December 8, 2009 Leave a comment

The elections to the 21st Central Council and the 20th Regional Councils of the Institute of Chartered Accountants of India (ICAI) ran into rough weather after a booth capturing incident.

At least four unidentified men, including one toting a pistol, stormed an ICAI election booth at Vaishali (near Ghaziabad) on Saturday, tampering the ballot box and stuffing ballot papers, sources said.

The returning officer to the elections and ICAI Secretary, Mr T. Karthikeyan, confirmed the incident and added that a First Information Report (FIR) had been lodged with a police station.

The ICAI President, Mr Uttam Prakash Agarwal, however, denied the booth-capturing incident. “No such instance of booth capturing has so far been brought to my notice,” he said.

Mr Karthikeyan declined to comment on whether any decision has been taken on re-poll at the same region. The polling booth, which was manned by a senior Deputy Director of the ICAI, came under the central region of the ICAI.

This polling booth had two ballot boxes — one each for the Central Council and the Regional Council. The officer in-charge informed the ICAI secretary about the booth capture.

The official is understood to have rushed to the Vaishali booth with officers of the Institute, sources said. The police were also called in.

It is learnt that only the Central Council box was tampered with. In all, 14 candidates from the central region are in the fray for positions in the Central Council.

The incident came as a shock to the chartered accountants fraternity. This was the first time in the history of the ICAI that a booth capturing incident had occurred at Council elections, a top ICAI official said.

Categories: ICAI Tags: ,

ICAI recommends Sector-specific Accounting Norms

October 7, 2009 Leave a comment

ICAI proposes ban on foreign auditors’ tie-ups

Indian audit firms that informally work as the audit arms of big foreign accounting firms may soon have to sever their foreign affiliations, if accounting and auditing rule maker ICAI has its way. ICAI has started pitching for restraining all foreign firms from associating with domestic firms that do statutory audits in India. Since foreign accounting firms cannot do audit work in India because the country has not yet opened up this sector to foreign firms under WTO discussions, they tie up with a local audit firm to offer this service to their clients. Another reason for the tie up is that an audit firm that advises a client cannot do statutory audit for the same client due to conflict of interest issues. The ICAI’s proposal, if vetted by the government, may create a major turnaround in the operations of the Big Four audit consultancy firms in India––comprising Ernst & Young, KPMG, Deloitte and Price WaterhouseCoopers (PwC). Even as the Big Four does not do audit in their names, ICAI wants to put an end to such business associations. “What cannot be done directly should not be done indirectly,” said ICAI president Ved Jain. If ICAI’s view is accepted by the government, foreign consultancy firms like Ernst & Young, KPMG and Deloitte may lose their audit associations here. In India, Ernst & Young has tied-up with SR Batliboi & Co, KPMG with BSR & Co, and Deloitte with CC Choksi & Co as their audit affiliate. Price Waterhouse is the Indian audit arm of its global parent PwC, and all its employees are Indians. An audit partner with one of the Big Four audit firms said on condition of anonymity that under the present set up, foreign consultancies can share, with its Indian affiliate, 20% of its partners.


Categories: ICAI

Marksheet of CA Final Topper!

August 15, 2009 2 comments

MarksheetGiriraj is from Bhilwara (Rajasthan) he probably did his classes from Mumbai.

A full fledged Journal For Students!!

Mr. Agrawal, President ICAI has announced in his address in the Student Newsletter for the Month of August, that a complete Journal for CA Students in line with the Journal for the members will be launched.

This newsletter will be upgraded to keep the students abreast with changing times.

This Journal will be much wider in scope and will cover the articles by experts, case studies, latest amendments in relevant areas.

A Pic of the announcement..

A Pic of the announcement..

Categories: Categories, ICAI
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