Standardisation of Guidance Notes issued under the authority of the Council - (22-07-2016)

No.1-CA(2)/Misc./2016                                                                                                                                                   22nd July, 2016

To: All Secretaries of Non-Standing Committees/Boards

Madam/Dear Sir,


Standardisation of Guidance Notes issued under the authority of the Council 

The Council at its 349th meeting held on 17th-18th January, 2016 has taken the following decisions in respect of standardisation of Guidance Notes issued under the authority of the Council: 

1.   The basic structure of the Guidance Note may include guidance on the Background/Introduction, Scope, Objective etc. so as to give the reader a brief idea of the topic for which the guidance is being provided. Thereafter, the descriptive narrative for the guidance may be followed. However, as the narrative related to the guidance on the topic is subject-specific, it should be left to the wisdom of the Committee concerned. 

2.   As far as possible, all the paragraphs in a Guidance Note should be numbered consecutively. 

3.   There should be a scheme for numbering of the Guidance Notes and these numbers should be allocated by the Publication Department of the Institute since it also issues an ISBN number for each publication printed by it. Further, Guidance Notes on Accounting may continue to be numbered as per the existing scheme in vogue i.e. GN(A) (year of issue/revision). The Council suggested Guidance Note on Auditing may be GN (A&AS) (year of Issue/Revision) while those related to taxation audit may be GN (TA) (year of Issue/Revision) etc. 

The Council, at its 353rd meeting held on 2nd-4th May, 2016 took the following further decisions on the above subject: 

4.   The draft Guidance Note should be exposed for public comments for a period of at least 30 days so that input from large stakeholders may be taken into account. For this purpose, mass emails should be sent to all the members informing that an exposure draft of a Guidance Note was open for public comments to reach the major stakeholders. 

5.   All Regional Councils and major branches should also be requested to constitute their study groups for considering the exposure draft of Guidance Notes issued for public comments and send their comments to the concerned Committee/Board for consideration such that inputs from large stakeholders may be taken into account. 

6.   In exceptional cases, when it is not possible to issue an exposure draft owing to paucity of time, since a Guidance Note is to be issued urgently, the draft Guidance Note may be placed for the consideration of the Council with the approval of the President-in-office. 

The above decisions of the Council may please be complied with while issuing a Guidance Note.

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CA FINAL and IPCC November 2016 Examination Dates Announced

ICAI has announced the date sheet for CA IPC & CA Final for upcoming November 2016 Exams on 20th July 2016. CA IPC Exam will begin from 2nd  and will end on 15th  November 2016 and CA final Exam will begin on 1st  and ending on 16th November 2016.

The date sheet has been enclosed for your reference.

INTERMEDIATE (IPC) EXAMINATION

Group-I: 2nd, 4th, 6th & 8th November 2016

Group-II: 10th, 12th & 15th November 2016

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)

FINAL EXAMINATION

Group -I: 1st, 3rd, 5th &  7th November 2016

Group -II: 9th, 11th, 13th  & 16th November 2016

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)

Exam Fees:

INTEGRATED PROFESSIONAL COMPETENCE (IPC)

For Both the Groups: Rs. 1900/-

For one Group:         Rs. 1200/-

FINAL EXAMINATION

For Both the Groups Rs. 2700/-

For one of the Groups Rs. 1500/-

Cost of Purchasing form is Rs. 1000. However the fees of Rs. 1000 for purchasing the Exam form need not be paid in case the students opts for submitting the Exam form online. Applications for admission to these examinations are required to be made either online at http://icaiexam.icai.org 

The forms shall also be made available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 5th August, 2016.

Applications together with the prescribed fee by Demand Draft of any Scheduled Bank may be sent so as to reach the Additional Secretary (Examinations) at New Delhi not later than 26th August, 2016. However, applications will also be received at Delhi Office after 26th August, 2013 and upto 2nd September, 2013 with late fee of 600/-. Applications for the students’ examinations only duly filled in will also be received by hand delivery at the office of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Delhi, Ahmedabad, Bangalore, Chandigarh, Ernakulam, Hyderabad, Indore, Jaipur, Nagpur, Pune, Surat, Thane & Vadodara upto 2nd September, 2016. Candidates residing in these cities are advised to take advantage of this facility. Applications received after 2nd September, 2016 shall not be entertained under any circumstances.

To download the Official Announcement Click Here

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Important Announcement For CPT June, 2015 Examination.

The Examination Application Form for admission to CPT June, 2015 examination is available from 7th April, 2015 and 28th April, 2015 is the last date for submission of filled up examination application form. The application form is available online at http://icaiexam.icai.org besides physical (OMR) applications forms also are available at the Institute’s Head Office, Regional Offices, Branches and Abu Dhabi/Dubai Chapters. 

Candidates who fulfill the following eligibility conditions, can apply for admission to CPT June, 2015 examination: 

(1) Registered* to Common Proficiency Course with Board of Studies of ICAI on or before 1st April, 2015; and 

(2) Either passed or appeared or going to appear in April/May, 2015 in Senior Secondary recognized Examination (10+2 examination). 

*Candidates who have applied on or before 1st April, 2015 for Common Proficiency Course registration with Regional offices of the Institute / Online but have not yet been issued registration number, can also apply for admission to CPT June, 2015 examination on Provisional basis; subject to their submission of a copy of their registration letter to the Examination Department at a later stage but before issue of Admit Cards. 

EXAMINATION DEPARTMENT

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Non-applicability of Wealth-tax for November, 2015 Paper 7 CA Final Examination

Important Announcement 

Sub: Non-applicability of Wealth-tax for November, 2015 CA Final Examination.

The Finance Bill, 2015, introduced in the Parliament on 28th February, 2015, has proposed to abolish the levy of wealth-tax under the Wealth-tax Act, 1957 with effect from assessment year 2016-17. The Finance Bill, 2015 would be enacted in May 2015, after it is passed by both the Houses of the Parliament and receives the assent of the President of India. The amendments made by the Finance Act, 2015 would be applicable from May, 2016 examination. The relevant assessment year for May, 2016 and November, 2016 examinations is A.Y.2016-17. Hence, consequent to the abolition of levy of wealth-tax by the Finance Act, 2015 with effect from A.Y.2016-17, wealth-tax would not be applicable from May, 2016 examination. 

The Council, at its 342nd meeting held from 15th to 17th April, 2015, decided that the Wealth-tax Act, 1957 and Rules thereunder would not be applicable for November, 2015 examination also, even though the relevant assessment year for November 2015 examination is A.Y.2015-16. Accordingly, Wealth-tax Act, 1957 and Rules thereunder would NOT be applicable for November, 2015 examination of Paper 7: Direct Tax Laws.

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Empanelment of “Writers” for Chartered Accountants examination - (18-03-2015)

The concessions extended by the Institute of Chartered Accountants of India, to differently abled candidates, in CA examinations, inter alia include a) compensatory time and/or b) writer (scribe). Detailed guidelines in this regard are hosted in the students>examination section of www.icai.org 

Institute is in the process of building a panel of writers (scribes), in various cities, who can act as “writers” for differently abled candidates in CA examinations and invites applications from eligible persons who are studying in recognized schools, colleges and other educational institutions for empanelment as “Writers” in the following cities: 

Delhi, Mumbai, Chennai, Kolkata, Kanpur, Jaipur, Ahemdabad, Pune, Bangalore, Hyderabad, Chandigarh, Bhubaneswar, Guwahati, Indore and Ludhiana. 

The eligibility for becoming a writer is given below: 

Examination	Educational Qualification of writer
CPT	10th class/Matriculation passed.
Final/Intermediate[IPC]	Under Graduate students. (Registered students of CA/CWA/CS course, passed Final examination and a member of the ICAI, ICWAI and ICSI are not eligible to act as a writer).

A writer will be eligible for a honorarium of Rs. 500/-(Rupees five hundred only) per paper/two sessions of Common Proficiency Test (CPT)

Those who are desirous of empanelling themselves may send their handwritten application in the prescribed format (Click here) at the following address, on or before 30th April, 2015. 

The Deputy Secretary (Exams)
The Institute of Chartered Accountants of India
‘ICAI Bhawan’
Indraprastha Marg,
New Delhi – 110002 

(B. Muralidharan)
Deputy Secretary (Exams.)

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Icai announcement: CA are not allowed to mention there other degree like CS, CWA, CPA on visiting card

ANNOUNCEMENT

FOR ATTENTION OF THE MEMBERS

Re: Use of Designation(s) other than the designation of “Chartered Accountant”

It has been brought to the notice of the Institute that some members are using the certain designation (s) other than Chartered Accountant in addition to the designation “Chartered Accountant’. In this regard, the attention of the members is drawn on Item (7) of Part-I of First Schedule to the Chartered Accountants Act, 1949 which provides that a Chartered Accountant in practice shall be deemed to be guilty of professional misconduct if he uses any designation or expressions other than chartered accountant on professional documents, visiting cards, letter heads or sign boards, unless it be a degree of a University established by law in India or recognised by the Central Government or a title indicating membership of the Institute of Chartered Accountants of India or of any other institution that has been recognised by the Central Government or may be recognised by the Council.

Further, attention of the members is also drawn to the following paras appearing at page no. 154 of the Code of Ethics, 2009 under commentary of Item (7):-

“It is improper for a Chartered Accountant to state on his professional documents that he is an Income-tax Consultant, Cost Accountant, Company Secretary, Cost Consultant or a Management Consultant”.

“While noting that it had already allowed its members to appear before the various authorities including Company Law Board, Income Tax Appellate Tribunal, Sales Tax Tribunal where the law has permitted the same, so far as the designation “Corporate Lawyer” is concerned, the Council was of the view that as per the existing provisions of law, a Chartered Accountant in practice is not entitled to use the designation “Corporate Lawyer”.

“The members are not permitted to use the initials ‘CPA’ (standing for Certified Public Accountant) on their visiting cards”.

“Members of the Institute in practice who are otherwise eligible may also practice as Company Secretaries and/or Cost Accountants. Such members shall, however, not use designation/s of the aforesaid Institute/s simultaneously with the designation “Chartered Accountant”.

Section 7 of the Chartered Accountants Act, 1949 also provides that every member of the Institute in practice shall, and any other member may, use the designation of a chartered accountant and no member using such designation shall use any other description, whether in addition thereto or in substitution therefor unless such descriptions indicate the membership of any other accounting body recognized by the Council in this behalf or the qualification he may possess.

In view of the above, though the members are allowed to use the description as to their qualifications however members are not permitted to use any other designation along with the designation ‘Chartered Accountant’. Members are therefore advised to abstain from using any other designation with the designation ‘Chartered Accountant’ failing which they may be liable for disciplinary action, as per the provisions of the Chartered Accountants Act, 1949 and Rules/Regulations framed thereunder.

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ICAI Doubled Stipend for Articled Assistants with Immediate Effect

In a latest move to serve the cause of our students, the Institute has decided with immediate effect (i.e. 23 January 2015) to double the stipend rates for each of the year payable to the articled assistants pursuing Chartered Accountancy Course. A notification issued in this regard to revise the Regulation 48 of the Chartered Accountants Regulations, 1988, is available on the website of the ICAI at the link http://220.227.161.86/36524council25906-sas.pdf. The stipend rates so revised are as follows:-

This is brought to the knowledge of articled assistants and the principal for compliance thereof

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CA Final/ CA CPT JUNE 2014 Result Date

As we are aware that this time CA Final exams got delayed due to elections. Generally the Result of May Exams comes in Mid July. But this time we are expecting the delay in the Results. The results of the Chartered Accountants Final Examination held in June, 2014 and Common Proficiency Test (CPT) held in June, 2014 are likely to be declared in last week of the july.  Final Result would be posted along with the merit list.

CA Final June 2014 result can be accessible with the use of admit card at the official site http://www.caresults.nic.in 

Result will be available on the following website: 

http://www.caresults.nic.in  

To check the CA Final Result of June 2014 you should visit http://www.caresults.nic.in and enter you CA Final 6  digit Admit Card Roll. No. in the space provided on the website .

This Information is not yet updated on the ICAI Website. We are updating this information on the basis of past Trend and our sources.

Tags: CA Final June 2014 Exam Result.

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Non-applicability of Companies Act, 2013 for May 2014, Examinations. - (18-11-2013)

18th November, 2013

Important Announcement

Attention: Intermediate (IPC) and Final Course students

Non-applicability of Companies Act, 2013 for May 2014, Examinations

This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (with partial enforcement of only 98 sections of the Companies Act, 2013 from 12th September, 2013) shall not be applicable for May 2014 examinations both at the Intermediate (IPC) and Final levels. 

The examinations will be based only on the existing syllabus.

Director, Board of Studies

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ICAI President's Message - November 2013 - (31-10-2013)

Now that we have a new Companies Act in place to guide our nation by consolidating and amending the laws relating to companies, the Ministry of Corporate Affairs is bringing out draft rules under the new Act. We are also framing our views through the process of consultative mechanism and the same are being submitted to the Ministry of Corporate Affairs in phases.

The new Act has increased focus on ethics and good corporate governance. The Act expects the auditors to deliver more in terms of information and assurance on governance practices in companies. As expected, the ICAI is determined to extend required training and guidance, capacity-building programmes to our members.

While laying more emphasis on better compliance, the new Companies Act has made CSR a mandatory responsibility for a class of certain degree of profit-making companies, while the message goes to all businesses that social responsibility has to be their integral aspect, if they want a sustained development for themselves.

Effective International Taxation System Required: Post-2008 crisis, issues in international cross-border taxation have raised many questions before the accountancy communities globally. There has been a seachange in cross-border trade and business practices in the wake of globalised economy. Today, companies do business across the globe using online infrastructure without worrying about their geographical locations or territorial jurisdiction, which makes business a complex phenomenon today. In the wake of tax status and activities of multinational organisations including transfer pricing, responsibility of accountancy professionals has increased in this globalised and technologicallyadvanced era. Organisation for Economic Cooperation and Development (OECD) is in the process of reviewing the international taxation in order to present a proposal to improve tax transparency and prevent tax avoidance. A multilateral global approach is required to improve the cross-border taxation scenario, considering the complex nature of international tax laws, treaties and information exchanges. G20 has also discussed tax avoidance on priority. All companies operating globally need to comply with the law of their applicable jurisdictions and pay taxes accordingly. They need to operate with responsibility and transparency. Being legally bound to disclose financial information on all (national and international) subsidiaries, our companies have been placed on top in corporate transparency among those of the BRICS nations.

President of India to Inaugurate ICAI International Conference in Kolkata: We are organizing two and a half-day International Conference on Accountancy Profession - Emerging Frontiers of Future Growth from 21st to 23rd November, 2013 in Kolkata. I am very happy to inform all stakeholders of our profession that the Hon’ble President of India Shri Pranab Mukherjee has kindly consented to inaugurate the Conference on 21st November, 2013, in Kolkata. Technical sessions during the Conference will focus on financial reporting, corporate finance, new IT aspects of business and new global competitive trade. I would request all our members to actively participate in the International Conference and make use of the productive sessions. Coinciding with the International Conference, we are also hosting CAPA (Confederation of Asia Pacific Accountants) and SAFA (South Asian Federation of Accountants) events. Details are available on our website.

Next IFASS Meet in March 2014 in New Delhi: I am glad that we will also be hosting the International Forum of Accounting Standard Setters (IFASS) meet in New Delhi in March 2014. IFASS, earlier known as NSS (National Standard Setters), is a group of accounting standard-setters of various countries across the world.

Kenyan Delegation to ICAI: The delegation from the Kenyan Accountants & Secretaries National Examination Board (KASNEB) visited ICAI headquarters in New Delhi. The delegation was led by its Board Members Ms. Catherine Musakali and Mr. Daniel M. Ndonye. The purpose of the visit was to seek assistance from ICAI in their on-going process of undertaking a major review of their syllabuses. During the meeting areas of education and training including the assessment procedures were also deliberated.

Compliance with CPE-Hour Requirements: The ICAI Council has decided that members should comply with their CPEhour requirements for the current block of three years, i.e. from 1st January, 2011 to 31st December, 2013, and complete the same by 31st December, 2013. Any shortfall in CPE credit for the period should be met by the same date. Names of members who fail to comply would be hosted on the Institute’s website for information, and regulatory authorities may take action on the basis of this information with regard to allotment of professional work to those members as sole proprietor or to their partnership firm. In order to remove the names from that published list, member(s) shall have to make up for the shortfall by obtaining twice of the amount of the shortfall, which will be in addition to the regular CPE-hour requirements for the block period.

Issues in Manual-/e-Filing of Tax Audit Report: The ICAI, being a partner in nation building, has always been proactive in bridging the gap between the Department and the taxpayer/member. With regard to the e-filing of Income-tax Returns and audit reports, ICAI is aware that difficulties were being experienced by our members. We had repeatedly submitted our request to the CBDT to extend the due date of furnishing the report under Section 44AB/ Section 92E of the Income-tax Act, 1961 and the e-filing of ITR. In fact, a detailed representation was submitted for extension in due date quoting difficulties in manual furnishing of audit reports and issues in e-filing of audit reports. Delays on account of natural calamities in some parts of our nation were also communicated. We also requested the CBDT to consider difficulties faced in uploading audit reports and returns due to technical snags and difficulties faced by assessees. We also requested them not to initiate penalty under Section 271B, where tax audit reports have not been filed manually before 30th September, 2013, but have been e-filed before 31st October, 2013. Then, with regard to the writ petitions filed by some chartered accountants societies/associations or individual chartered accountants seeking extension in due date for filing returns of income tax and tax audit reports, we were intimated that the Delhi High Court while hearing the said writs had formed a Committee of four members including two representatives from our Institute to submit a detailed representation for extension of due date and also to appear before CBDT to explain the hardships being faced. In order to support the cause, a detailed representation was once again submitted to the CBDT recently with a request to suitably extend the due date. I am pleased to share with you that, today, the CBDT has directed that where the 'due date' of furnishing audit reports and corresponding income tax returns was 30th September, 2013, and where the same has been furnished electronically on or before 31st October, 2013, such reports of audit and returns of income shall be deemed to have been furnished within 'due date' prescribed under Section 139 of the Income-tax Act, 1961.

Web-Hosting of ISCA and IDTL Revised Study Material: Syllabi of Paper 6 (Information Systems Control and Audit) and Paper 8 (Indirect Tax Laws) of Final Course have been revised and that it has been decided to hold examinations of the aforesaid papers in accordance with the revised syllabi from November 2014 onwards. Detailed announcement is hosted on our Institute’s website. Study Materials of the two revised papers have been prepared and hosted on our website. Although students have been communicated through e-mail about this change in syllabi and hosting of the revised study materials, you are also requested to bring this to the notice of articled assistants engaged with you.

MoUs in Interest of Membership: An MoU has been signed with Corporation Bank with regard to an arrangement of a loan scheme ‘Corp CA’ Scheme for our members. We also signed an MoU with New India Assurance Co. Ltd. with regard to an arrangement of the Office Protection Shield Insurance for our members.

Committed to Knowledge Sharing: We have organised many Investors Awareness Programmes under the aegis of the Ministry of Corporate Affairs. We have also organised training programme for the officials of CBI (Central Bureau of Investigation) on financial and banking fraud detection. For the officials of Serious Fraud Investigation Office (SFIO), we have received a proposal to impart t raining on the same. We have also received proposals from some State Governments to impart training to their police officials in that regard.

Language Lab in ICAI: I am glad to acknowledge that a language lab has been set up as part of a communication-skill development initiative for our students. This will serve as a tool to teach a language by interactive methods using available software, and thereby help our students to learn phonetics including acceptable (standard) pronunciation and accent using self-assessment modules. In the lab, students who are not comfortable in using English language will get an opportunity to acquire, practice and enhance their communication skills. A pilot batch of students recently attended the lab, and the response received was quite encouraging for all of us to see. Overall, participants found the software informative and helpful. It is good that the language labs will help our students in resolving their issues in English language and communication skills.

e-Sahaayataa: e-Sahaayataa, an online grievance management system of the ICAI, provides prompt services to all stakeholders of accountancy profession including our members and students. It’s satisfying to observe that the number of members and students who avail this service to resolve their queries pertaining to day-to-day functioning of the Institute, has greatly increased over the time, which says a lot on the quality of the Institute’s delivery. I would request all our members and students to make optimum use of this service, which is meant mainly to get answers on queries relating to administrative aspects of the Institute, and not on queries relating to the technical matters of the Institute.

CABF Initiative: With regard to the Chartered Accountants Benevolent Fund (CABF), I would like to inform that CABF has received a total contribution of 1,23,15,305 since February 2013, of which 15,96,805 has been received as voluntary contribution. A total of 1,02,47,500 has already been granted as financial assistance to the family members of deceased members of the Institute during this period, i.e. since February 2013. I will call upon all our members to please contribute generously to the responsible initiative-CABF.

Finally, there is good news on Indian Economic front, which was a long-awaited one amidst the general gloom. A third successive month of double-digit export growth along with a sharp compression in imports saw a trade deficit narrow to a 30-month record in September, raising hopes that the worst of the current account deficit and rupee weakness are behind India.

Exports rose 11.2% in September while imports fell 19.1%, which compressed the trade deficit to $6.8 billion, the lowest since March 2011. It is good that after a better-thanexpected trade deficit numbers, experts say that the current account deficit will stay below the $70 billion estimated by the government for the current fiscal. Data suggests that the concerns on external-sector vulnerability are fast abating. It augurs well for our economy. It is an indicator that negative market expectations of bottomless slide are reversing. Let’s help and support our economy progress faster.

Let’s have hopes on the growth projections of RBI Governor Shri Raghuram Rajan than believe the recently-released conservative forecast of IMF (International Monetary Fund) about our national growth down from 5.6 to a mere 3.8%. To me, this forecast is specifically based on recent developments and performances without considering the improved performance in core sectors like cement, steel, coal and power, improved exports due to rupee depreciation and this year’s more-than-sufficient monsoon that may possibly effect an improved agricultural performance. Besides, rupee depreciation will also help domestic industries to grow and compete strikingly against imports.

Winter has arrived. We can feel the chill in the evening air. I would like to extend my sincere heartfelt wishes to all of you on the festival of light, Deepawali. May this festival bring hope and happiness in our lives! Muharram, the most sacred month of Islamic calendar, will touch our life, soon after Deepawali. Founder of Sikhism and a staunch propagator of spiritual and social equality Guru Nanak’s birthday, Gurpurab, is celebrated on Kartik Poornima every year. Let us learn to live honestly and earn without manipulating and deceiving others, while remembering the great Guru.


CA. Subodh Kumar Agrawal

President, ICAI

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Application Form for the Information Systems Audit (ISA) Assessment Test – November, 2013 [Last Date-12th November, 2013]. - (30-10-2013)

Application Form for the Information Systems Audit (ISA) Assessment Test – November, 2013 [Last Date-12th November, 2013]. - (30-10-2013)

• Online Application Form 
• Hard Copy Application Form

Tags: icai, CA Announcement, CA, Chartered Accountants,

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Download Model Test Papers - Final Course

Model Test Papers - Final Course - November 2013

Group - I

• PAPER - 1 : FINANCIAL REPORTING
• PAPER - 2 : STRATEGIC FINANCIAL MANAGEMENT 
• PAPER - 3 : ADVANCED AUDITING AND PROFESSIONAL ETHICS 
• PAPER - 4 : CORPORATE AND ALLIED LAWS 

Group - II

• PAPER - 5 : ADVANCED MANAGEMENT ACCOUNTING 
• PAPER - 6 : INFORMATION SYSTEMS CONTROL AND AUDIT 
• PAPER - 7 : DIRECT TAX LAWS 
• PAPER - 8 : INDIRECT TAX LAWS 

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Download Model Test Papers - Intermediate (Integrated Professional Competence) Course

Model Test Papers - Intermediate (Integrated Professional Competence) Course - November 2013

GROUP - I

• PAPER - 1 : ACCOUNTING
  
• PAPER - 2 : BUSINESS LAWS, ETHICS AND COMMUNICATION 
  
• PAPER - 3 : COST ACCOUNTING AND FINANCIAL MANAGEMENT
  
• PAPER - 4 : TAXATION 

GROUP - II

• PAPER - 5 : ADVANCED ACCOUNTING
  
• PAPER - 6 : AUDITING AND ASSURANCE
  
• PAPER - 7 : INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

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Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013). - (09-10-2013)

For kind information of the members

Sub : Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years
(1-1-2011 to 31-12-2013)

In order to function the system of mandatory CPE effective, the Council of the Institute of Chartered Accountants of India has decided that the members who fail to comply with their CPE Hours requirement for the current block of 3 years (1-1-2011 to 31-12-2013) are appropriately sanctioned. Therefore, the Council of the Institute has decided as under :

• All the members are required to complete their CPE hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013) by 31st December, 2013.
  
• Any shortfall in the CPE credit for the calendar years 2011, 2012 and 2013 should be met by the members by 31st December, 2013.
  
• The names of the members who fail to comply with their CPE hours Requirements for the block period of 3 years by 31st December, 2013 would be hosted on the website of the ICAI for information of public at large.
  
• Further, the ICAI will not be responsible in any way for any action taken by any of the regulatory authorities on the basis of the names hosted on the website for allotting the professional work to them as sole proprietor or to their partnership firm.
  
• To strike out the name/s from the list so hosted on the website, the member/s shall have to make up any shortfall in their CPE credit hours for the above block period of 3 years by obtaining twice of the amount of the shortfall. Such addition shall be in addition to the regular CPE hours requirement for the particular Calendar year in which they are making up the shortfall.

The members are requested to note the above. The members are also requested to comply with the CPE Hours requirements for the current year by 31st December, 2013.

(Secretary, CPE Committee of ICAI)

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