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: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARD :: empanelment :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: articles on VAT and GST in India
 
 
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 objects to RBI group's suggestion for autonomy to its arm
April, 04th 2009

Apex accounting body ICAI has raised objections to the recommendations of the Rakesh Mohan Committee on more autonomy to the Accounting Standards Board, an arm of the regulator, saying that the panel hasn't suggested anything that is already not in place.

"The composition of the Accounting Standards Board (ASB) is fairly broad-based and ensures participation of all interest groups in the standard-setting process," Institute of Chartered Accountants of India President Uttam Aggarwal told reporters here.

The Board frames accounting norms and financial reporting procedures. The Rakesh Mohan Committee on Financial Sector Assessment has suggested that functional autonomy be given to the ASB.

The institute, however, objected to the recommendations saying the ASB already has the autonomy, that has been talked about.

To put it in context, the ICAI said a final draft of any proposed accounting standard can be submitted only to the council of the accounting body after the ASB approves. Also, if there are any modifications proposed by the council, they can made only in consultation with the ASB.

"As such the procedure in place not only provides for a pivotal role to the ASB but also ensures functional autonomy of ASB in substance," it said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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