Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: form 3cd :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT Audit :: cpt
 
 
ICAI »
 Introduction of facility for online submission of requests for issue of duplicate mark sheets/pass certificates.
 ICAI invites suggestions on revised Model GST Law
 Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board
 President's Message - December 2016
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 6
 Announcement regarding registration as an Insolvency Professional with the Indian Institute of Insolvency Professionals of ICAI
 CPE Events 28th November - 3th November 2016
 Admit Cards for CPT December 2016 Examination
 Application Form for the Information Systems Audit (ISA) Assessment Test - December, 2016 [Last Date - 7th December, 2016]
  MCA Announcement - To avoid Last Minutes rush please file the Financial Statements and Annual Returns at the earliest.
 CPE Events 21th November - 26th November 2016

ICAI sets eyes on global standards
November, 28th 2008
The recent planning and initiative of the Institute of Chartered Accountants of India (ICAI) are now directed to make India as a destination for accounting as well as auditing services. Apart from converging with the international financial reporting standards (IFRS) by April 1, 2011, it is now planning to convergence with the international auditing standards. ICAI president Ved Jain told Fe that if a person wants to take audit service from India then he needs to be sure that India makes use of auditing standards that are used world over. Keeping this in mind, ICAI is now focusing towards convergence with global auditing standards which will ensure that accounting and auditing services in India will be of international level and it will create professional opportunities and avenues not only in accounting services but also in auditing services. The implication of this will be that it will increase the outsourcing opportunities since the Indian CAs will be capable of providing the global level accounting as well as auditing services. Moreover, the foreign players will also be comfortable in doing business in India as they would be aware that the Indian accounting and auditing standards are in sync with the international ones. According to ICAI sources, keeping this in mind, the chartered accountant (CA) course content, education and training is being focused more to ensure that the Indian CA is able to meet the global expectations and high international standards. Ved Jain said that keeping in view the global financial crisis where the Indian regulators and systems have performed well as compared to the developed nations in US and Europe, on the same lines, it is imperative that India emerges as a leader in providing both accounting as well as auditing services. He added that the ICAI is now planning to make the chartered accountancy profession truly global and for that purpose it is in talks with various accounting bodies world over. Jain further said, With the adoption of the global standards, the Indian CAs will be much in demand to provide not only the accounting services but also the auditing services world over. With the advancement of technology and communication, accounting and auditing standards have become borderless and I see no reason why India should not be a destination for whole of the worlds accounting and auditing services on the same level as India is a destination for IT services.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions