CHARTERED ACCOUNTANTS ARE IN GREAT DEMAND

December, 01st 2008

In the wake of the global meltdown and slowdown affecting the country, the profession of accounting would take lead in ensuring financial discipline at all levels of management, Institute of Chartered Accountants of India (ICAI) President Ved Jain said today. "It is our profession, which can guide and take the lead in ensuring financial discipline to the profession of accounting," he said in a release issued by the Institute as part of the first convocation ceremony held here. Jain said a Chartered Accountant is not only best suited for finance but could excel at all levels, including human resources, policy making and a complete business solution provider. On the occasion, over 800 students received their certificates, the release said. ICAI is the second-largest accounting body in the world. It operates through five regional offices and 117 branches across the country and has 21 overseas chapters, the release added.

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)

GOOD LUCK TO CA FINAL/PCC STUDENTS WHO ARE APPEARING FOR NOV 2008 EXAMINATIONS

JAB WE MET LAW WISHES ALL CA FINAL/PCC

STUDENTS APPEARING IN NOV 2008

VERY VERY VERY BEST OF LUCK

JAB WE MET LAW WISHES ALL VIEWERS HAPPY DIWALI.....

CERTFICATE COUSE ON IFRS

Certificate Course on International Financial Reporting Standards
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The International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB) are gaining recognition as Global Reporting Standards. The Council of the Institute of Chartered Accountants of India, while appreciating the emerging diversities and complexities in the world of accounting and the need for knowledge of IFRS in relation to the convergence of the Indian Accounting Standards with IFRS, has decided to launch a Certificate Course on International Financial Reporting Standards for its members. The objective of this Course is to enhance the knowledge as well as to provide benefit to the members in the global service market.

The Course aims at providing:
Introduction of the concepts of IFRS


Dissemination of knowledge on IFRS;


Comparison of IFRS with existing Indian Accounting Standards;


Issues in relation to IFRS;


Conversion of Financial Statements prepared on the basis of Indian GAAP to IFRS based financial statements.



Apart from the comprehensive theoretical aspects, this course, the first of its kind in India, will sharpen the expertise and excellence of our members through multiple case studies across the industry and service sector.

The course will be conducted initially at Mumbai, Delhi, Bangalore, Hyderabad, Kolkata and later on in Chennai, Ahmedabad, Jaipur, Kanpur, Chandigarh and other cities. The registration for the course will commence from 1st November 2008. The registration will be on first come first serve basis. The schedule of classes for Mumbai centre will be announced shortly.

For any query, please contact: National Course Director:
CA. Amarjit Chopra
Central Council Member
Mob: 98101 00299,
E-mail: amarjitchopra@vsnl.net; CA. S. Gopalakrishnan
Central Council Member
Mob: 98497 71066
E-mail: gopalakrishnan.s@in.pwc.com;

Nodal Officer:
CA. Karuna Bhansali
Mob. No. 9310998451
E-mail: karuna.bhansali@icai.org