Institute of Chartered Accountants of India

July 1, 1949 (62 years ago) Body corporate established under the Chartered Accountants Act, 1949 enacted by the Parliament of India

The Institute of Chartered Accountants of India (ICAI) is a national professional accounting body of India. It was established on 1 July 1949 as a body corporate under the Chartered Accountants Act, 1949 enacted by the Constituent Assembly of India (acting as the provisional Parliament of India) to regulate the profession of Chartered Accountancy in India. ICAI is the second largest professional a

ccounting body in the world in terms of membership second only to American Institute of Certified Public Accountants. ICAI is the only licensing cm regulating body of the financial audit and accountancy profession in India. It recommends the accounting standards to be followed by companies in India to the National Advisory Committee on Accounting Standards (NACAS) and sets the accounting standards to be followed by other types of organisations. ICAI is solely responsible for setting the auditing and assurance standards to be followed in the audit of financial statements in India. It also issues other technical standards like Standards on Internal Audit (SIA), Corporate Affairs Standards (CAS) etc. to be followed by practising Chartered Accountants. It works closely with the Government of India, Reserve Bank of India and the Securities and Exchange Board of India in formulating and enforcing such standards. Members of the Institute are known as Chartered Accountants. However the word chartered does not refer to or flow from any Royal Charter. Chartered Accountants are subject to a published Code of Ethics and professional standards, violation of which is subject to disciplinary action. Only a member of ICAI can be appointed as auditor of an Indian company under the Companies Act, 1956. The management of the Institute is vested with its Council with the president acting as its Chief Executive Authority. A person can become a member of ICAI by taking prescribed examinations and undergoing three years of practical training. The membership course is well known for its rigorous standards. ICAI has entered into mutual recognition agreements with other professional accounting bodies world-wide for reciprocal membership recognition. ICAI is one of the founder members of the International Federation of Accountants (IFAC), South Asian Federation of Accountants (SAFA), and Confederation of Asian and Pacific Accountants (CAPA). ICAI was formerly the provisional jurisdiction for XBRL International in India.

26/05/2014

Applicability of notified sections of the Companies
Act,2013 for May 2015, Examinations

220.227.161.86

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24/05/2014

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04/09/2013

Hellow everyone one of our friend who is in CWA final need training under a practising CWA.
plz help...

04/09/2013

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17/08/2013

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15/07/2013

Shri Narendra Modi addresses youth at Fergusson College, Pune

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12/07/2013

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08/07/2013

Clarification Regarding Applicability of SA 700 on Tax Audit Report under Section 44AB of The Income-Tax Act, 1961

As the members are aware that all audit reports in respect of audits of financial statements for period beginning on or after 1st April 2012 are to be issued in accordance with the requirements of SA 700(Revised) - Forming an Opinion and Reporting on Financial Statements. In this regard, ICAI has been receiving mails seeking clarification regarding applicability of SA 700 on tax audit reports, i.e. Form No. 3CA/3CB.

Considering the fact that all tax audit reports are now mandatorily required to be filed online and that the format of tax audit report is prescribed by the Central Government, the Council in its 325th meeting held from 1st June to 3rd June, 2013 decided to defer the applicability of SA-700 (Revised) on the tax audit report under section 44AB of the Income-tax Act,1961 by one year i.e. the requirements of SA-700(Revised) are not applicable for tax audit reports filed up to 31st March, 2014.

ICAI is further taking up the matter with the appropriate authorities so that suitable changes can be brought in the forms relating to tax audit.

24/05/2013

In the middle of difficulty lies opportunity. ~ Albert Einstein

14/05/2013

IMPORTANT ANNOUNCEMENT

POSTPONEMENT OF EXAMINATION OF GROUP-II, PAPER-7, INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT OF INTERMEDIATE (INTEGRATED PROFESSIONAL COMPETENCE) EXAMINATION SCHEDULED ON 15TH MAY – 2013.
It is hereby informed that due to unavoidable circumstances the examination of Group – II, Paper - 7 – Information Technology and Strategic Management of Intermediate (Integrated Professional Competence) Examination scheduled on 15th May-2013 stands postponed. The said examination for the candidates will now be held on 24th May - 2013 (Friday) from 2.00 PM to 5.00 PM. The venue and timing of the said examination will remain unchanged. Admit Card already issued would remain valid for the examination on 24th May 2013.
(G. Somasekhar)
Additional Secretary (Examinations)

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Location

Delhi

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Telephone

+91-011-39893990

Website

http://icai.org/

Address

ICAI Bhawan, Indraprastha Marg
Delhi
110104