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| « Professional Updates » |
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 CPE Events 27th January -1st February 2020 | | Register for Fourth Exclusive Batch of German Language (120 hours) for ICAI Members and Students at Delhi. Last Date - 29th January, 2020 | | CMI&B of ICAI is conducting 51st Campus Placement Programme in the month of Feb-March, 2020. | | Office hours arising out of Security Arrangements for Republic Day - 2020 | | Certificate Course on Forex and Treasury Management –Forthcoming Batches at Noida & Mumbai | | Result of the Information Systems Audit [ISA] Assessment Test held on 28th December 2019 is likely to be declared on Thursday, 16th January 2020 (evening)/ Friday, 17th January, 2020. | | DAAB of ICAI releases Digital Competency Maturity Model for Professional Accounting Firms - Version 2.0 and Implementation Guide | | Educational Material on Indian Accounting Standards 116, Leases | | Results of the Post Qualification Course Examinations i.e. International Taxation Assessment Test, Insurance & Risk Management, and International Trade Laws & WTO are likely to be declared on the Monday, February 3rd, 2020 (evening)/Tuesday, February 4th, 2020. | | Register for Exclusive Fourth Batch of French Language (108 hours) for ICAI Members and Students at New Delhi - 20th January, 2020. | | Four Weeks Residential Programme to be held from 27th January, 2020 to 23rd February, 2020 at Centre of Excellence, Jaipur for Male Participants only. |
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| « Last Date Extended to Apply for 13th ICAI Awards being... | Announcement on Applicability of “Implementation Guide on... » |
Advisory on Exhibit B3 of SEBI’s Circular dated 29th March 2019 regarding Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity. |
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| December, 11th 2019 |
Advisory on Exhibit B3 of SEBI’s Circular dated 29th March 2019 regarding Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity
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1 As the members are aware that SEBI has issued a Circular dated 29th March 2019 regarding Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity. Exhibit B3 of the abovementioned Circular pertains to “Independent Auditor’s Review Report on Review of Consolidated Unaudited Quarterly and Year to date Financial Results for banks”. Point Nos. 7 and 8 of Exhibit B3 require quantification of (a) total assets (b) total revenue (c) Total net profit/(loss) after tax (d) cash flows(net) with respect to branches of banks.
2 It has come to our notice that the members are facing implementation challenges while reporting as per Exhibit B3 since reporting of net profit/(loss) after tax and cash flows of branches is not practically possible. The matter was taken up with SEBI and it has been advised that ICAI may issue necessary guidance to the members on the matter.
3 Accordingly, the members are advised that while reporting as per Exhibit B3 they need not report on net profit/(loss) after tax and cash flows of branches if such details are not contained in the financial statements.
4 This Advisory will come into force from immediate effect.
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Chairman
Auditing and Assurance Standards Board |
Vice-Chairman
Auditing and Assurance Standards Board |
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