Page 5 - Icai

Now ICAI issues orders against seven domestic affiliate firms of PwC

In response to the order, Price Waterhouse and affiliates said that they were "disappointed"

ICAI says action against EY India affiliates under its statutory powers

The body added that the procedure for enquiring and levying penalties is governed by statutory rules framed by the Centre

ICAI order on EY India affiliates may speed up notification of norms

While there is disappointment with the order, there is also hope that it would eventually lead to "much needed" clarity on guidelines on international networking for domestic firms

ICAI passes orders against three EY affiliates for professional misconduct

The Institute of Chartered Accountants of India (ICAI) has passed an order against auditing major EY's three affiliates and a retired partner for "professional misconduct". Besides, the ICAI has issued an order against S V Ghatalia & Associates, LLP, and its partner for professional misconduct. The entity is not operational now. The disciplinary committee of the ICAI has directed the firms and the individual partner concerned to immediately stop existing arrangements with the multinational entities, as the same is circumventing the provisions of the Chartered Accountants Act, 1949. The order, dated April 25, is against S R Batliboi & Associates, LLP; SRBC & Co, LLP; S R Batliboi & Co LLP and retired partner Raj Kumar Agrawal. "We are disappointed to receive the order against our former retired partners in the matter of operations of Indian audit firms having network with global firms. "We as Indian audit firms have always respected rules and applicable laws. We are ...

New rules for aggregation of domestic CA firms in three months: ICAI

"The overall aim is to provide ease of growing practice and facilitate the Indian CA firms grow bigger," he said

ICAI CA 2024: Admit cards for inter and final exam to be available soon

ICAI CA Admit Card 2024 for the upcoming intermediate and final exams will be accessible soon on the official site of the ICAI. Applicants are encouraged to remain connected with us

ICAI 2024: CA exams to be rescheduled, new dates to be issued at icai.org

With the Lok Sabha election schedules clashing with the official CA exam dates, the Institute of Chartered Accountants of India (ICAI) chose to reschedule these tests and issue new dates

ICAI to conduct foundation, intermediate examinations three times a year

The Institute of Chartered Accountants of India (ICAI) will conduct examinations for foundation and intermediate courses three times in a year. Till now, the institute has been conducting these examinations twice a year. "The intermediate and foundation course examinations will be conducted thrice in a year in the month of January, May/June and September," ICAI said in a release on Friday. The decision was taken at ICAI's council meeting on March 7. ICAI has more than 4 lakh members and 8.5 lakh students.

MCA starts comprehensive review of auditing standards regulations

MCA secretary Manoj Govil urged the corporate sector, including the CEOs and CFOs to improve upon the level of public trust within the business ecosystem as preparers of financial statements

Paytm issue may be reviewed, scrutiny on Byju's progressing well: ICAI

Amid the unfolding Paytm Payments Bank Ltd crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal on Sunday said its financial reporting review board (FRRB) may deliberate on issues of the fintech firm in the near future. The FRRB of the statutory body is currently conducting a review of the accounts of tech-based education unicorn Byju's over alleged governance concerns, and the exercise is progressing well, the ICAI president said. "So far, we have not considered it (Paytm issue), but the board meeting of the FRRB will take place in the near future and it will consider appropriate action if required. So far, we have not decided anything as far as this matter is concerned," ICAI President Ranjeet Kumar Agarwal told PTI in an interview. Newly elected committees, including FRRB, of the ICAI are expected to hold meetings from March onwards, he said. Notably, the banking sector regulator Reserve Bank of India has already imposed restrictions on Paytm Payme

Artificial intelligence to save more time for chartered accountants: ICAI

Artificial intelligence will provide a helping hand and free up a lot of time for chartered accountants to focus on analytical work, ICAI President Ranjeet Kumar Agarwal said on Wednesday and highlighted that there is a huge demand for chartered accountants. The Institute of Chartered Accountants of India (ICAI) expects there will be a need for around 30 lakh chartered accountants in the next 20 to 25 years and last year, around 22,000 students cleared the chartered accountants examination. At a briefing in the national capital, Agarwal, who took charge as the president on February 12, said a committee will be coming out with a roadmap in the next two months on the use of Artificial Intelligence (AI) at the Institute of Chartered Accountants of India (ICAI). He emphasised that Artificial Intelligence (AI) is a tool and is saving a lot of time. "This will give you (chartered accountants) more time for application of mind, analytics... I believe AI is going to be a helping hand for t

ICAI to suggest ways to improve country's tax to GDP ratio, says Agarwal

Chartered accountants' apex body ICAI will provide suggestions to the government on increasing the tax to GDP ratio as well as on green finance. At a briefing in the national capital on Wednesday, ICAI President Ranjeet Kumar Agarwal said the tax to GDP ratio should improve for the country to become a developed economy by 2047. The Institute of Chartered Accountants of India (ICAI) has more than 4 lakh members and 8.5 lakh students. Spelling out the vision for the institute, Agarwal, who took over as the President on February 12, also said a committee will identify irrelevant laws and make suggestions in this regard to the government. Among other initiatives, the institute will come out with a roadmap on how Artificial Intelligence (AI) can be used for its various stakeholders.

Irdai reconstitutes expert committee for Ind AS/IFRS implementation

The committee will also address the requirements of guidance notes, APS, and Education Material from respective professional institutes

ICAI CA Foundation exam 2023: Over 40k students qualify foundation exam

ICAI released the results of CA Foundation exam December 2023 on Wednesday. 41,132 candidates managed to clear the exam. Here's how you can check the result

ICAI elects Ranjeet Kumar Agarwal as Prez, Charanjot Singh Nanda as VP

The chartered accountants' apex body ICAI on Monday said Ranjeet Kumar Agarwal and Charanjot Singh Nanda have been elected as President and Vice President of the institute, respectively. Both have been elected by the institute's central council for the 2024-25 term, according to a release. The Institute of Chartered Accountants of India (ICAI) has around 4 lakh members and more than 8.5 lakh students. Agarwal is the 72nd President of ICAI and served as Vice President in 2023-24. Among other responsibilities, Nanda has served as the chairman of various ICAI committees, including those on internal audit standards board, and on financial markets & investors protection.

ICAI CA Result November 2023: CA Inter, Final result announced today

ICAI has released the CA Inter and Final results today. Candidates can check their results on the official website, i.e., icai.org or icai.nic.in

ICAI signs MoU with J-K govt to promote skill development: Officials

The MoU was signed in the presence of Jammu and Kashmir Lieutenant Governor Manoj Sinha

AI to help chartered accountants deliver high quality audits: ICAI prez

Artificial Intelligence will help chartered accountants deliver high quality audits as well as increase the number of transactions being looked at, ICAI President Aniket Sunil Talati has said and highlighted that efforts are on to provide the best skill sets to its members. The Institute of Chartered Accountants of India (ICAI) has more than 3.80 lakh members and over 8 lakh students. Artificial Intelligence (AI) and Machine Learning (ML) are being used in various sectors. In a recent interaction with PTI, Talati said he sees AI as a big change that is coming into the audit profession. "If there is a good AI system, then there is so much one can look at in terms of transactions. AI will report back to you in terms of any deviations, red flags... and will play a huge role in assisting chartered accountants to deliver high quality audit. "We are working with our members to train and upskill them to have the best skill sets to understand AI," he said. Over the years, the accounting

AI to help chartered accountants deliver high quality audits: ICAI Prez

Artificial Intelligence will help chartered accountants deliver high quality audits as well as increase the number of transactions being looked at, ICAI President Aniket Sunil Talati has said and highlighted that efforts are on to provide the best skill sets to its members. The Institute of Chartered Accountants of India (ICAI) has more than 3.80 lakh members and over 8 lakh students. Artificial Intelligence (AI) and Machine Learning (ML) are being used in various sectors. In a recent interaction with PTI, Talati said he sees AI as a big change that is coming into the audit profession. "If there is a good AI system, then there is so much one can look at in terms of transactions. AI will report back to you in terms of any deviations, red flags... and will play a huge role in assisting chartered accountants to deliver high quality audit. "We are working with our members to train and upskill them to have the best skill sets to understand AI," he said. Over the years, the accounting

AI can aid CAs, can't replace human mind: ICAI's Aniket Sunil Talati

AI is going to impact everything that we do, not just auditing and accounting