Important Announcement
1st August, 2013
Sub: Revision of syllabus of Group I Paper- 4 - Taxation Part II and
Group II Paper 7 - Section A: Information Technology of
Intermediate (IPC) Course; and
Group II Paper 6 Information Systems Control and Audit and
Group II Paper 8 Indirect Tax Laws of Final Course.
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As per the decision of the Council taken at its 324th held in March, 2013, it is
notified for information of students and the public at large that the examination in
the following papers effective from November 2014 examination and onwards shall
be held as per the revised syllabus, as specified by the Council in terms of its
authority as vested in Regulation 28E (3) and 31(iii) in respect of Intermediate
(IPC)/Accounting Technician Examination and Final Examination respectively.
Paper 4:
Part I : No change
Intermediate (IPC) Examination/
Accounting Technician Examination
Part II: Taxation i.e. Service Tax (25
(ATE) under Regulation 28E (3) of the
Marks) and VAT (25 Marks)
Chartered Accountants Regulations,
1988.
Paper 7: Section A: Information
Technology (50 Marks)
Paper 6: Information Systems Control
Final Examination under Regulation 31
and Audit (100 Marks)
(iii) of the Chartered Accountants
Regulations, 1988
Paper: 8: Indirect Tax Laws (100 Marks)
The detailed Revised Syllabi in respect of aforesaid papers of Intermediate
(IPC) and Final Examinations are hereby attached for the information of students
and general public.
It is clarified that there is no change in the syllabus of remaining papers of
Intermediate (IPC) Course and Final Course, except as specified above.
Director, Board of Studies
INTERMEDIATE (IPC), GROUP I, PAPER 4: TAXATION
Syllabus
PART II INDIRECT TAXES (50 MARKS)
Objective:
To develop an understanding of the basic concepts of the different types of indirect taxes and to
acquire the ability to analyse the significant provisions of service tax.
1. Introduction to excise duty, customs duty, central sales tax and VAT Constitutional
aspects, Basic concepts relating to levy, taxable event and related provisions
2. Significant provisions of service tax
(i). Constitutional Aspects
(ii) Basic Concepts and General Principles
(iii) Charge of service tax including negative list of services
(iv) Point of taxation of services
(v) Exemptions and Abatements
(vi) Valuation of taxable services
(vii) Invoicing for taxable services
(viii) Payment of service tax
(ix) Registration
(x) Furnishing of returns
(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]
Note If new legislations are enacted in place of the existing legislations the syllabus will
accordingly include the corresponding provisions of such new legislations in place of the existing
legislations with effect from the date to be notified by the Institute. Students shall not be examined
with reference to any particular State VAT Law.
Intermediate (IPC), Group-II, Paper-7A: Information Technology
Paper - 7A: Information Technology (50 Marks)
Syllabus
Level of Knowledge: Working Knowledge
Objective: "To develop understanding of Information Technology as a key enabler and facilitator of
implementing Information Systems in enterprises and their impact on business processes and controls".
Contents
1. Business Process Management & IT
Introduction to various Business processes Accounting, Finances, Sale, Purchase etc.
Business Process Automation Benefits & Risks
Approach to mapping systems : Entity Diagrams, Data Flow Diagrams, Systems Flow
diagrams, Decision trees/tables,
Accounting systems vs. Value chain automation, Information as a business asset
Impact of IT on business processes, Business Risks of failure of IT
Business Process Re-engineering
2. Information Systems and IT Fundamentals
Understand importance of IT in business and relevance to Audit with case studies.
Understand working of computers and networks in business process automation from
business information perspective
Concepts of Computing (Definition provided by ACM/IEEE and overview of related
terminologies)
Overview of IS Layers Applications, DBMS, systems software, hardware, networks &
links and people
Overview of Information Systems life cycle and key phases
Computing Technologies & Hardware Servers, end points, popular computing
architectures, emerging computing architectures & delivery models example: SaaS, Cloud
Computing, Mobile computing, etc.
Example: Overview of latest devices/technologies i5, Bluetooth, Tablet, Wi-Fi, Android,
Touchpad, iPad, iPod, Laptop, Notebook, Smartphone, Ultra- Mobile PC etc.)
3. Telecommunication and Networks
Fundamentals of telecommunication
Components and functions of Telecommunication Systems
Data networks types of architecture, LAN, WAN, Wireless, private and public
networks etc.
Overview of computing architectures centralised, de-centralised, mainframe, client-
server, thin-thick client etc.
Network Fundamentals Components, Standards and protocols, Network risks &
controls VPN, Encryption, Secure protocols,
Network administration and management concepts and issues
How information systems are facilitated through telecommunications.
How Internet works, Internet architecture, key concepts, risks and controls
e-Commerce and M-commerce technologies
4. Business Information Systems
Information Systems and their role in businesses
IT as a business enabler & driver ERP, Core Banking System, CRM, SCM, HRMS,
Payment Mechanisms
The relationship between organisations, information systems and business processes
Accounting Information Systems and linkages to Operational systems
Business Reporting, MIS & IT
Organisation Roles & responsibilities and table or authorities, importance of access
controls, privilege controls
Specialised systems - MIS, DSS, Business Intelligence, Expert Systems, Artificial
Intelligence, Knowledge Management systems etc.
5. Business process automation through Application software
Business Applications overview and types
Business Process Automation, relevant controls and information systems
Information Processing & Delivery channels and their role in Information Systems
Key types of Application Controls and their need
Emerging concepts Virtualisation, Grid Computing, Cloud delivery model
Final Course, Group-II, Paper-6:
Information Systems Control and Audit
(One Paper Three Hours - 100 Marks)
Syllabus
Level of Knowledge: Advanced Knowledge
Objective: "To develop competencies and skill-sets in evaluation of controls and relevant evidence
gathering in an IT environment using IT tools and techniques for effective and efficient performance of
accounting, assurance and compliance services provided by a Chartered Accountant".
Contents
1. Concepts of Governance and Management of Information Systems
Governance, Risk and compliance and relationship between governance and management.
Role of information technology and IS Strategy in business strategy, operations and control , business
value from use of IT, business impact of IS risks different types of Information Systems Risks, IS Risk
management overview, IT Compliance overview Role and responsibilities of top management as regards
IT-GRC. Role of Information Systems Assurance. Overview of Governance of Enterprise IT and COBIT
2. Information Systems Concepts
Overview of information systems in IT environment and practical aspects of application of information
systems in enterprise processes. Information as a key business asset and its relation to business
objectives, business processes and relative importance of information systems from strategic and
operational perspectives. Various types of business applications, overview of underlying IT technologies.
3. Protection of Information Systems
Need for protection of Information systems, types of controls, IT general controls, logical access controls &
application controls. Technologies and security management features, IS Security Policies, procedures,
practices, standards and guidelines, IT controls and control objectives, Role of technology systems in
control monitoring, segregation of duties. Impact of IT controls on Internal controls over financial reporting,
cyber frauds and control failures.
4. Business Continuity Planning and Disaster recovery planning
Assessing Business Continuity Management, Business Impact Analysis and Business Continuity Plans,
Disaster recovery from perspective of going concern, Recovery Strategies
5. Acquisition, Development and Implementation of Information Systems (SDLC)
Business process design (integrated systems, automated, and manual interfaces), Software procurement,
RFP process, evaluation of IT proposals, computing ROI, Computing Cost of IT implementation and cost
benefit analysis, systematic approach to SDLC and review of SDLC controls at different stages.
6. Auditing & Information Systems
Different types of IS audit and assurance engagements. Evaluating IT dependencies for audit planning.
Overview of continuous auditing. Auditing Information Systems- Approach methodology, and standards for
auditing information systems. IS Audit planning, performing an IS audit, rules of digital evidence, best
practices and standards for IS audit.
Reviewing General Controls, Application Controls, Application control reviews: Review of controls at
various levels/layers such as: Parameters, user creation, granting of access rights, input, processing and
output controls.
7. Information Technology Regulatory issues
Overview of Specific section of IT Act 2008 & Rules as relevant for assurance: Electronic Contracting,
digital signatures, cyber offences, etc. Need for systems audit as per various regulations such as: SEBI
Clause 49 listing requirements and internal controls, systems control & audit requirements as per RBI,
SEBI, IRDA. Concepts of Cyber forensics/Cyber Fraud investigation, Overview of Information Security
Standards ISO 27001, ISAE 3402/SA 402, ITIL
8. Emerging Technology: Overview of Cloud Computing, Software as a Service, Mobile Computing &
BYOD, Web 2.0 & social media, Green IT and related security and audit issues
FINAL GROUP II
PAPER 8 : INDIRECT TAX LAWS
(One paper Three hours 100 marks)
Syllabus
Level of Knowledge : Advanced knowledge
Objectives:
(a) To gain advanced knowledge of the principles of the laws relating to central excise,
service tax and customs
(b) To acquire the ability to apply the knowledge of the provisions of the above-mentioned
laws to various situations in actual practice
Contents:
Section A: Central Excise (25 marks)
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax (50 marks)
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time
Section C: Customs and Foreign Trade Policy (25 marks)
Customs Act, 1962, Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to the
Customs Law
Note If new legislations are enacted in place of the existing legislations relating to central excise,
customs and service tax, the syllabus will accordingly include such new legislations in place of the
existing legislations with effect from the date to be notified by the Institute.
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