Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: VAT Audit :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: articles on VAT and GST in India :: cpt :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
ICAI »
 Notification CPT - June, 2017
 Notification Final - May, 2017
 Result of the Chartered Accountants Final Examination held in May 2017 and Common Proficiency Test (CPT) held in June 2017 declared.
 Invitation for expression of interest from software development companies for providing software relevant to the Practitioners & CA Firms of ICAI by 31 August, 2017.
 Alternate website for CA Final and CPT May/June 2017 Results
 CPE Events 17th July - 22th July 2017
 Result of the Chartered Accountants Final Examination held in May 2017 and Common Proficiency Test (CPT) held in June 2017 are likely to be declared on Tuesday, the 18th July 2017.
 Result of the Information Systems Audit [ISA] Assessment Test held on 24th June 2017 is likely to be declared on 18th July, 2017.
  Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 10
 Announcement for revision in fee of Expert Advisory Committee (applicable with effect from July 1, 2017)
 IFRS Taxonomy Update - IFRS 17 Insurance Contracts

Ready with updated Indian accounting standards: ICAI
July, 14th 2014

With the country gearing up for new accounting regime, apex body of chartered accountants ICAI has said it is ready with updated accounting standards that are converged with global norms.

The Institute of Chartered Accountants of India (ICAI) has been working on the new Indian Accounting Standards (Ind AS) for quite sometime.

"We will work closely with Ministry of Corporate Affairs to assure effective and smooth implementation of Ind AS in India," ICAI President K Raghu told PTI.

The new norms are converged with International Financial Reporting Standards (IFRS), which is being followed in more than 100 countries.

To enable companies to voluntarily use the new standards, Raghu said the institute is "ready with updated Ind AS corresponding to IFRS as of this date".

Finance Minister Arun Jaitley, in his Budget speech on July 10, had said there was an urgent need to converge the current Indian accounting standards with IFRS.

"I propose for adoption of the new Indian Accounting Standards (Ind AS) by the Indian companies from the financial year 2015-16 voluntarily and from the financial year 2016-17 on a mandatory basis," he had said.

The timelines for implementation of Ind AS for the financial services sector, including banks and insurance companies would be separately notified by the respective regulators.

According to Raghu, the institute has always propagated the need to converge with IFRS at the earliest to bring the financial reporting practices of the Indian corporates at par with the global standards.

The institute has also flagged off Indian stakeholders' concerns on IFRS to the International Accounting Standards Board (IASB). The latter has developed IFRS.

"ICAI has also effectively communicated to IASB the Indian concerns relating to the industry and other stakeholders and IASB has already revised certain IFRS (norms) such as on 'agriculture' to address our concerns," Raghu said.

The institute has been working on convergence process after Ind AS were put on the Corporate Affairs Ministry's website in February 2011.

Besides, ICAI has been conducting certificate courses for its members and other stakeholders in the area of IFRS and Ind AS.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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