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: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: TDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS
 
 
News Headlines »
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps

ICAI plans newer accounting standards
July, 08th 2006

The Institute of Chartered Accountants of India (ICAI) has proposed to come up with newer accounting standards, covering miscellaneous issues, in order to be in sync with what is being practised internationally.

A number of accounting standards are already in place while efforts are on to include other critical topics within their fold. The ICAI, given this backdrop, is looking forward to add to few more to its suite of standards in the foreseeable future.

The ICAI, according to the President, Mr T.N. Manoharan, is of the view that independent directors will soon have to play a greater role in the working of companies. Chartered accountants are quite capable of taking up mandates as independent board membe rs, he said.

The institute has on another front feels the need to support the cause of small and medium enterprises (SMEs), many of which have gained great significance in recent years. The SME category, it has pointed out, is growing in stature and has started contr ibuting more to the aggregate wealth being generated in the country.

Meanwhile, the International Federation of Accountants (IFAC) has also proposed to encourage these entities, it is mentioned. It is further felt that small and medium practices face definite challenges while applying international standards to the audits of SMEs.

The Board of IFAC has recently cleared a programme aimed at providing guidance material for use in SME audits. The latest guidance (expected to be based on the international standards) is likely to come by end-December.

Among the proposals being weighed by the chartered accountants' organisation is one that relates to provision of greater recognition to those who have passed the inter test.

At the moment the ICAI has roughly 1.3 lakh members and every year 7,000-8,000 students qualify as chartered accountants, Mr Manoharan indicated. A high 83 per cent of them opted for employment last year, while the rest obtained certificate of practice.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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