FIRST CONVOCATION OF ICAI

The Institute of Chartered Accountants of India (ICAI) conducted its first convocation ceremony here on November 16.Union Minister of Corporate Affairs, Mr. Prem Chand Gupta conferred certificates to 28 All India Rank (AIR) holders. Around 2,800 scripts were awarded under different categories.Mr. Ved Jain, President of ICAI conferred credentials to more than 1,000 members and students present at the function.Two books tittled 'Certificate Course on Valuation - Volume I and II' and 'Members Manual' was also released by Mr. Gupta.Addressing the gathering, Mr. Gupta said, "I take this opportunity to wish all students a very bright future. I would also like to tell them that they are entering a profession whose importance is going to increase day by day not only in the Indian context but also globally"."Chartered Accountancy is a globally acclaimed profession, capable of offering new vistas to young talent by providing challenging opportunities. The multi-faceted knowledge a chartered accountant posseses through a unique blend of academics coupled with practical training, is what the business and industry need in the advent of liberalization, privatization and globalization of Indian economy. The Chartered Accountants have emerged as a complete business solution providers", Mr. Gupta further said.The Institute has witnessed a record registration of 92,000 candidates for the Common Proficiency Test (CPT) scheduled for December 14, 2008.For the examinations which concluded on November 16 - Professional Competence Examination (PCE) and Final, more than 90,000 students appeared, reflecting the upward trend being witnessed in the chartered accountancy course."In the years to come, approximately 30,000 chartered accountants will pass out every year to adequately meet the growing demand of accountancy professionals in the dynamic economy", an official from the ICAI said.Speaking on the economic recession, Mr. Gupta said, "The global economy is passing through turbulent times. The more surprising part of the current scenario is that the most developed economies of the world, including India used to look forward to models of good corporate governance and effective regulations of these countries. While the government is taking every step, which is required under the circumstances, it is professional bodies like the ICAI which have an important role to play".

CA'S CAN WORK IN UK NOW

The Institute of Chartered Accountants of India (ICAI) signed a Memorandum of Understanding (MoU) with The Institute of Chartered Accountants in England & Wales (ICAEW) as on 20th November, 2008. This MoU will foster working relations between the two bodies. This has been signed by Mr. Martin Hagen, Deputy President, ICAEW and CA. Ved Jain, President, ICAI in the presence of Union Minister of Corporate Affairs, Hon'ble Shri Prem Chand Gupta. The MoU will provide for mutual Recognition and Examination arrangements for the members of the two largest Institutes of the world.
The two largest Chartered Accountancy bodies joined hands in recognition arrangements for their members. The two Institutes have been following highest standards of professional education, training, technical & ethical standards. The MoU entails coming together of two largest Accounting bodies working in tandem with each other to provide a synergy. This agreement would facilitate mobility of members across the borders and further strengthen the ties between India and United Kingdom (U.K.). This MoU will establish closer working linkages as well as provide recognition for members of the two bodies in the respective countries. With this arrangement, the two nations would be playing leadership role in their respective region. The arrangement provides that existing members of ICAI with two years of post qualification experience will be eligible for ICAEW membership on passing the ICAEW's one paper on Case Study. The ICAI members with less than two years of experience will be required to pass 3 papers- Case Study, Technical Integration Business change, Technical Integration Business Reporting. On the other hand, members of ICAEW who are trained in public practice will become eligible for ICAI membership subject to passing ICAI's 4 no.s of examination papers for the special modules – Taxation; Law, Ethics & Communication; Information Technology & Strategic Management; and Auditing & Assurance.

CPT TEST TIMINGS CHANGED

IMPORTANT ANNOUNCEMENT


FOR KIND ATTENTION OF CANDIDATES APPEARING IN THE COMMON PROFICIENCY TEST (CPT) TO BE HELD ON
SUNDAY,THE 14TH DECEMBER, 2008


All Candidates appearing in Common Proficiency Test (CPT) on 14th December 2008 may kindly note the revised timings of the Common Proficiency Test to be held on 14th December 2008 as under :-

Morning Session: 10.30 A.M. – 12.30 P.M. (IST)

Afternoon Session: 02.00 P.M. -- 04.00 P.M. (IST)