Govt approves renewal of MoU between ICAI and CBFS, Oman

  Press Information Bureau Government of India Ministry of Corporate Affairs 10-March-2017 15:50 IST Government approves renewal of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the College of Banking and Financial Studies (CBFS), Oman The Government has approved the renewal of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the College of Banking and Financial Studies (CBFS), Oman with the aim of developing a mutually beneficial relationship in the best interest of members, students and the Institutes. It is expected that through this mechanism, an opportunity will be provided to ICAI members to expand their Professional horizons and substantial goodwill be generated for India, Indian Citizens and Indian Chartered Accountants in the Sultanate of Oman

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Canada Chapter of ICAI launched helpline for Members

  The Institution of Chartered Accountants of India (Setup by an Act of Parliament) TORONTO CHAPTER Toronto Chapter Launches Helpline for CPA Candidates Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership – (09-03-2017) Greetings! , In continuation of our efforts to help our members acquire CPA designation, we are pleased to inform you that we have launched a helpline platform in this regard. We are very fortunate to have our members Dweep Mehta, Priyanka Baidya, Saoli Chakraborty (recent successful CPA Candidates) who have offered their guidance to members who are interested in pursuing CPA. The CPA Canada helpline will be structured as follows: An email cpahelpline@icaitoronto.com has been created for members to send their inquiries to CPA helpline team at their convenience.The CPA helpline team will monitor and review the

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MOCK TEST – ICAI

  With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared Mock Test Papers for Intermediate (IPC) and Final Course students to assess their preparation for the main examination to be held in May, 2017. All our Regional Councils and Branches have been advised to conduct Mock Tests under examination conditions and ‘Special Counselling Sessions’ for the benefit of Intermediate (IPC) and Final Course students in the months of March – April, 2017. Students are advised to contact the respective Regional Councils/Branch(es) to ascertain the exact date(s) and venue for the Mock Tests and ‘Special Counselling Sessions’ so as take advantage of the same which will help them to assess their preparation for the main examinations. Director, Board of

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Empanelment for Statutory Audit of State/District Health Society, Bihar

  Form – A (Format of Advertisement) Government of Bihar Health & Family Welfare Department State Health Society, Bihar SELECTION OF AUDITORS – REQUEST FOR PROPOSAL HIRING SERVICES OF CHARTERED ACCOUNTANT FIRM FOR STATUTORY AUDIT OF STATE HEALTH SOCIETY (SHS) & DISTRICT HEALTH SOCIETY (DHS) – (FOR THE FINANCIAL YEAR 2016-17) under National Health Mission (NHM) Govt of India (GoI) in partnership with the State is implementing the National Health Mission which comprises of various programs, with the objective of improving medical facilities in the areas and seeks to provide accessible, affordable and quality health care to the population, especially the vulnerable sections. To facilitate implementation of NHM, State and District level entities (Health Societies) have been registered which work under the administrative control of the Department of Health &

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ICAI invites suggestions on Mid Term Review of FTP 2015-20 / SEIS

  Dear Professional Colleague, Sub: Inviting your valuable suggestions/inputs on the Mid Term Review of the Foreign Trade Policy 2015-20 on Services Exports from India Scheme (SEIS). At the outset, with best compliments from us, it is stated that the office is in receipt of a letter from the Ministry of Corporate Affairs seeking ICAI’s suggestions for the Mid-Term Review of the Foreign Trade Policy 2015-20 in order to account for the changes in the circumstances over period and as a measure of mid-term course correction. The Ministry has sought general suggestions and specific recommendations from the Institute on Services Exports from India Scheme (SEIS).Foreign Trade Policy 2015-20 (relevant pages from 60 to 70) and Relevant Annexures are available at http://www.icai.org/post.html?post_id=13365 The Foreign Trade Policy of India directly affects our members and their firms. In view thereof,

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ICAI Invites EOI from CA Firms for Indian Railway Accounting Project

  Inviting expression of interest from eligible Firms of Chartered Accountants ICAI Accounting Research Foundation (ICAI ARF) established by the Institute of Chartered Accountants of India in January, 1999, as a Section 25 Company under the Companies Act, 1956 (now a Section 8 Company under the Companies Act, 2013), for promoting research in the areas of accounting, auditing, capital markets, fiscal policies, monetary policies and other related disciplines. ICAI ARF hereby invites proposals from eligible Chartered Accountant Firms having preferably their Head Office at following places to be associated for handling its upcoming project of Indian Railways for conversion of its books of accounts from hybrid to accrual accounting: RFP No. Zonal Railway Place State Minimum Team Requirement Team Leader Team Member ARF/RFP/Mar 17/01 Central Railway Mumbai Maharashtra 1 5 ARF/RFP/Mar 17/02

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Applicability of GST in Nov., 2017 CA Intermediate (IPC) Examinations

  Sub: Applicability of GST in Nov., 2017 Examinations Students appearing in November, 2017 Intermediate (IPC) Examination may note that Goods and Services Tax (GST) will not be examined in Part II: Indirect Taxes of Paper 4: Taxation. Therefore, students are advised to start studying the existing indirect tax laws as covered in the syllabus of Part II of this paper and not postpone their studies. Students of Final Course will be informed in due course about the applicability of GST for November, 2017 Examination. Director, Board of Studies

ICAI submits Post-Budget Memoranda-2017

  We have noted with great satisfaction that the suggestions given by the Committee in the past have been considered very positively. In formulating our suggestions in regard to the Finance Bill 2017, the Direct Taxes Committee and Committee on International Taxation of the ICAI have considered in a balanced way, the objectives and rationale of the Government and the practical difficulties/hardships faced by taxpayers and professionals in application of the provisions of the Income-tax Act, 1961. We are confident that the suggestions of the Direct Taxes Committee and Committee on International Taxation of ICAI given in this Memorandum shall receive positive consideration. In this memorandum, suggestions on the specific clauses of the Finance Bill, 2017 relating to Income-tax Act have been given in detail. DOWNLOAD/READ FULL MEMORANDA

Guidance Note on Audit of Banks 2017 edition

  The Auditing and Assurance Standards Board of the ICAI has today issued the Guidance Note on Audit of Banks 2017 edition. For the benefit of the members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at the following links: Guidance Note on Audit of Banks (2017 Edition) Contents of accompanying CD Please note that the soft copy of accompanying CD as uploaded on website contains only the list of Master Directions, Master Circulars and other relevant Circulars of RBI. However, the CD that will come with the printed book will contain the complete text of these Directions/Circulars. Auditing and Assurance Standards Board Last updated on 28th February, 2017

CPE hour increased to 120 Hours : ICAI

  CPE Hours Requirements for the Block Period of 3 years (1-1-2017 to 31.12.2019) to be complied with by different categories of Members A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: a. Complete at least 120 CPE credit hours in a rolling period of three-years. b. Complete minimum 20 CPE credit hours of structured learning in each calendar year. c. Balance 60 CPE credit hours (minimum 20 CPE credit hours in each calendar year) can be completed either through Structured or Unstructured learning (as per Member’s choice). B. All the members (aged less than 60 years) who are not holding Certificate of Practice; and all the members who are residing abroad (whether

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