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ICAI postpones remaining CA exams amid Indo-Pak tensions, new dates awaited

ICAI postpones remaining May 2025 CA exams citing tense India-Pakistan situation; decision affects final, intermediate, post-qualification papers; new dates to be announced soon

ICAI to assess financial aspects of 'One Nation One Election' proposal

Chartered accountants' apex body ICAI will assess the financial aspects of the proposed 'One Nation One Election' reform that will help the Parliamentary panel, which is currently examining the relevant bills, to have a better understanding about the financial implications. A high level committee chaired by former President Ram Nath Kovind came out with its report, in March 2024, recommending holding the Lok Sabha, Assembly and local bodies' polls together. Subsequently, the government, in December last year, introduced two bills in the Lok Sabha to provide a legal framework to simultaneously hold Parliamentary and Assembly polls. A 39-member Joint Parliamentary Committee, headed by BJP member P P Chaudhary, is now examining the draft bills, which are based on the Kovind panel recommendations. The Institute of Chartered Accountants of India (ICAI) President Charanjot Singh Nanda told PTI that the institute will be assessing the various financial aspects of ONOE reform. A report of

ICAI to assist Sebi in safeguarding retail investors, tackling market fraud

Chartered accountants' apex body ICAI will be preparing a research paper to help markets watchdog Sebi in dealing with financial frauds. ICAI President Charanjot Singh Nanda on Saturday said the institute will set up a working group and hold discussions with Sebi to finalise the various aspects that will be looked into with respect to tackling financial fraud. The working group will submit a research paper to the Securities and Exchange Board of India (Sebi) in this regard, Nanda told PTI. Nanda had a meeting with Sebi Chairman Tuhin Kanta Pandey on Friday. "India is a very favourable investment destination. People want to invest in India and normal people have diverted their savings to the markets such as Systematic Investment Plans," Nanda said at a briefing in the national capital. It is important for Sebi to ensure the protection of investors' interests. Along with ICAI, a system can be developed to prevent fraud, he added. In recent years, there have been increased investmen

ICAI likely to complete review of Gensol, BluSmart financials in 6 months

Chartered accountants' apex body ICAI is likely to complete the review of the financial statements of crisis-hit Gensol Engineering Ltd and BluSmart Mobility in six months, according to officials. ICAI's Financial Reporting Review Board (FRRB) is reviewing the financial statements of the two companies for the financial year 2023-24. Institute of Chartered Accountants of India (ICAI) officials on Saturday said the review of the financial statements is expected to be completed in six months. Gensol Engineering has come under the regulatory scanner for alleged fund diversions and governance lapses, with regulator Sebi, last week, barring the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations. BluSmart Mobility, which offers ride-hailing services, is promoted by Anmol Singh Jaggi. FRRB conducts the review of financial statements of companies to assess compliance with Accounting Standards, Standards on Auditing, Schedule II and

ICAI's Financial Reporting Review Board to review Gensol's books

The review is being undertaken by the ICAI on a suo motu basis, Charanjot Singh Nanda, president, ICAI, said

New accounting norms to bolster financial reporting quality: ICAI

The proposed standards also present two additional subtotals in the profit or loss section: 'operating profit or loss' and 'profit or loss before financing and income taxes'

ICAI CA Admit Card 2025: How to download May Inter, Final hall tickets

The ICAI is set to release the admit cards for the upcoming CA Intermediate and Final May 2025 exams. As per reports, the hall ticket is available for download today on the official ICAI website

CA final exams to be held thrice a year from this year, announces ICAI

CA Final exams will be conducted thrice a year from 2025 instead of two, the Institute of Chartered Accountants of India (ICAI) announced on Thursday. Last year, the ICAI took a decision to hold the Intermediate and Foundation course exams three times a year and now the CA Final exams will follow suit, it said. "In order to align with global best practices and provide students with greater opportunities, the 26th Council of the ICAI has taken a historic decision to hold the CA Final exam three times a year. This examination was being held twice a year," the ICAI said in a statement. "Now, all three levels CA Final, Intermediate and Foundation, will have an equal number of attempts each year, providing students more opportunities to sit in the exam. These exams will be held in the month of January, May and September," it added. The ICAI said that the Post Qualification Course in Information Systems Audit will also undergo a transformation. "Earlier conducted twice a year in June a

ICAI may review IndusInd Bank's financials amid recent discrepancies

Chartered accountants' apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting to the tune of Rs 2,100 crore. On March 10, the private sector lender disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35 per cent of the bank's net worth as of December 2024, as per its internal review. Analysts peg the discrepancy at Rs 2,100 crore in absolute terms. Against this backdrop, the Financial Reporting Review Board (FRRB) of the Institute of Chartered Accountants of India (ICAI) is likely to review the bank's financial statements. "As a proactive measure, ICAI-FRRB may undertake a review of the financial statements of IndusInd Bank," ICAI President Charanjot Singh Nanda told PTI on Thursday. FRRB conducts the review of financial statements of companies to assess compliance with Accounting Standards, Standards on Auditing, Schedule II and III of the Companies Act, 2013, am

ICAI submits suggestions to Lok Sabha selection committee on I-T Bill

Chartered accountants' apex body ICAI on Thursday submitted its suggestions to the Lok Sabha Select Committee examining the new Income Tax Bill, including seeking lesser number of sections and simplifying the language in the proposed legislation. The 31-member committee, headed by BJP MP Baijayant Panda, has been mandated to submit its report by the first day of the next Parliament session. The Institute of Chartered Accountants of India (ICAI) has suggested reducing the number of sections in the proposed bill by 90 to 100, its President Charanjot Singh Nanda said. Currently, the bill has 536 sections. Besides, the institute has made suggestions on ways to reduce litigations and simplify the language of the bill further, he added. "We want to support the government," Nanda said at a briefing in the national capital. The bill was introduced by Finance Minister Nirmala Sitharaman in Lok Sabha last month.

ICAI seeks to join PM's Internship Scheme for finance, accounting roles

The Institute of Chartered Accountants of India (ICAI) has expressed its interest to the government to be part of the Prime Minister's Internship Scheme whereby youth can be offered opportunities in various areas of accounting and finance. The scheme, being implemented by the corporate affairs ministry, was launched on October 3, 2024 and aims to provide internship opportunities to 1.25 lakh youth in the current financial year. An ICAI official on Thursday said the institute has written to the ministry seeking to be part of the scheme. After getting the ministry's in-principle approval, the ICAI Central Council will discuss on the modalities related to participating in the scheme, the official said and added that the aim is to provide internship opportunities for the youth at chartered accountant firms in the areas of accounting and finance. The scheme, announced in the 2024-25 Budget, aims to provide internship opportunities to 1 crore youth in top 500 companies in 5 ...

ICAI CA Foundation, Inter results 2025: Deepanshi tops CA Inter 2025

ICAI CA Foundation, Intermediate results 2025 has been released. Candidates can check and download their results through the official website, icai.nic.in

ICAI CA Foundation, Inter Results 2025 Out: where to check scorecard?

The Institute of Chartered Accountants of India (ICAI) is set to declare the results for the CA Foundation and Intermediate exams for the January 2025 session today on March 4 at official website

ICAI CA Foundation and Inter results 2025 released at icai.nic.in

ICAI announced CA Foundation and Inter results for the January 2025 session at icai.nic.in. Here's how to check and download

Tax audit is the forte of chartered accountants: ICAI President Nanda

The finance ministry has asked the chartered accountants' body to review the new Income Tax Bill 2025 and suggest improvements

FinMin asks ICAI to review new Income Tax Bill 2025, suggest improvements

Central Board of Direct Taxes expects the Institute of Chartered Accountants of India to go through the bill section-by-section, keeping in mind the needs of both businesses and individual taxpayers

Budget 2025 focuses on ease of doing biz, promotes manufacturing: ICAI

The Institute of Chartered Accountants of India (ICAI) on Saturday said the Budget focuses on ease of doing business, promote domestic manufacturing and position India as a more competitive player in global trade, supporting economic resilience and growth. "Suggestions by ICAI in Pre-Budget memorandum regarding the finance bill 2025, phasing out of alternative tax regime, rationalisation of TDS and TCS regime, exemption of withdrawal from NSS and taxation of business trusts have also been accepted," ICAI President Ranjeet Kumar Agarwal said in a statement. Finance Minister Nirmala Sitharaman on Saturday presented her eighth consecutive Budget. Sitharaman announced significant income tax cuts for the middle class and unveiled a blueprint for next-generation reforms for Viksit Bharat as she treaded a fine line between fiscal prudence and providing a thrust to growth. ICAI also said deeming the annual value of two self-occupied house property as nil instead of erstwhile one, is a great

ICAI seeks tax benefits to promote climate change mitigation strategies

Chartered accountants' apex body ICAI has sought tax benefits for promoting climate change mitigation strategies and a separate section for income from shares and securities in the income tax returns form. Besides, the Institute of Chartered Accountants of India (ICAI) has sought a special tax regime for partnership firms and limited liability partnerships (LLPs) as well as simplification of income tax return forms. The institute on Friday said it has advocated for prudent tax reforms aimed at fostering economic growth and encouraging environmental sustainability in the pre-Budget Memorandum 2025. "Provision of tax benefits for promoting climate change mitigation strategies, which will not only contribute to India's climate change goals but also drive economic growth by promoting sustainable business practices is a suggestion in this direction," it said in a release. Among other suggestions, ICAI has proposed a new head to show income from shares and securities that will have ...

ICAI cannot issue standards on quality management: SG Tushar Mehta to NFRA

In October, the ICAI moved to introduce SQM1 and SQM2, along with 16 related changes to auditing norms

ICAI CA Final Result 2024 released today; here's how to check and download

ICAI CA Final Result November 2024 result has been released today, December 26. Candidates should achieve a minimum of 40% in each subject and a total of 50% overall to clear the subject