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Only a member of ICAI can be appointed as statutory auditor of a company under the Companies Act, 2013. 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 and become a financial (i.e. statutory) auditor of Indian Companies.
The aspirant is eligible to become a member of ICAI on successful completion of all the necessary courses, required exams and mandatory training specified above. The aspirant becomes an eligible person to be called a chartered accountant only after he registers with ICAI and obtains membership.
The Chartered Accountants Act, 1949 is a statute enacted by the Constituent Assembly of India, which was acting as the provisional Parliament of India in 1949, to regulate the profession of Chartered Accountants in India.
The CA Final is the final level exam in the chartered accountancy course offered by the Institute of Chartered Accountants of India (ICAI). [1] CA Final exam is divided into two groups and consists of 6 set of papers with 100 mark each. Before the CA Final exam, students must clear Foundation and Intermediate exams. The exam paper will be ...
From 1984-1989 he was a member of the Managing Committee of the Coimbatore Branch of the Southern India Regional Council (SIRC) of the ICAI and was Chairman of that branch from 1988-1989. [3] He became a council member of the Southern India Regional Council (SIRC) of ICAI in 1994 while serving as Director of the Tamil Nadu Industrial Investment ...
ACCA traces its origin to 1904, when eight people formed the London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of Scotland (ICAS).
The ICAI notification issued on August 3, 1989 says that "if any member of ICAI, i.e. any Chartered Accountant, who obtained the qualification of Chartered Financial Analyst [awarded by ICFAI] on or after January 1, 1990, or has obtained the said qualification earlier did not surrender the same before the said date, [he/she] would be held ...
Based on the report of forensic auditor appointed by banks the latter declares an account as fraud or wilful defaulter [5] and such procedure was missing earlier. [2] The guidelines are being drafted after consulting RBI, Ministry of corporate affairs , the comptroller and auditor general of India , and the Securities and Exchange Board of India .