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: articles on VAT and GST in India :: VAT RATES :: VAT Audit :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: cpt :: TDS :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd
 
 
« ICAI »
 Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements
 Application Form for the Information Systems Audit (ISA) Assessment Test - June, 2017
 Formation of a Group for Reviewing the Decision Regarding Noting of Change in Constitution on Account of Leaving of Partner of Firm and Allied Issues.
  Three Days Intensive Class Room Training for IBBI - Limited Insolvency Examinations in two batches at Chennai. Batch-1: 2nd to 4th June, 2017; Batch 2-23rd to 25th June, 2017
 Announcement on Advertising by members in practice engaged in Coaching/Teaching Activities
 Constitution of Group related to all issues of Bank Audit including reduction in SCAs Cooling Period, distribution of Bank Branch Audit
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 9
 Announcement - For the attention of candidates appearing in CA exams at exam centres in Tamil Nadu.
 CPE Events 15th May - 20th May 2017
 Information System Audit - Assessment Test (ISA - AT) New Syllabus, June 2017
 Next batch of the Certificate Course on Cooperatives at Mumbai from 27th May, 2017

ICAI committed to implement converged standards from Apr
January, 08th 2010

Institute of Chartered Accountants of India (ICAI) president Uttam Prakash Agarwal in an interview with Fes Neha Pal shares the initiatives taken by the institute on the global level. Excerpts:

What action has the ICAI taken against the two Satyam auditorsS Gopalakrishnan and Srinivas Talluri?

The disciplinary committee of ICAI has prima-facie found the two auditors responsible for professional misconduct and have issued notices to both of them to appear before the committee. But the matter has been adjourned since the two auditors are in jail.

What is the status regarding the convergence of the Indian accounting standards with the International Financial Reporting Standards (IFRS)?

The ICAI council has reaffirmed its commitment to the government to implement converged standards from April 1, 2011. The council reviewed the level of preparedness of the profession towards implementation and was satisfied with the progress made.

What is ICAI doing in terms of the Indian auditing standards?

The ICAI is moving ahead on the road of convergence of Indian standards of auditing (SA) with International Standards of Auditing (ISA). These new standards will cater to the expectations of society, regulators and government in terms of continuously improving the quality of audit process of providing assurance to the financial statements.

The ICAI has approved one more standard on internal audit (SIA) 17, Consideration of Laws and Regulations in an internal audit. This standard distinguishes the internal auditors responsibilities in relation to compliance with two different categories of laws and regulations, one that has direct affect on financial statements and other that has significant impact on the functioning of the entity.

Is there any new change that has been introduced in the chartered accountancy course?

The council of the institute has allowed training for the chartered accountancy course even outside India with the institutes members in practice. This would mean that such a member in practice would be entitled to train chartered accountancy students, even if they are partner in the local firm outside India.

The institute has been given the charge to develop the financial reporting XBRL taxonomy for various sectors. How far has ICAI succeeded in this?

The draft of the taxonomy to prepare financial statements of banks has recently been considered by the expert group under the convenorship of the member from RBI on the steering committee. The same has been finalised for public consultation and placed on our website for comments. The steering committee will thereafter finalise the taxonomy for sending for accreditation by XBRL international.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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