OPPORTUNITY TO SEND YOUR VOICE TO ICAI

C A GROUP COACHING (COACHING ) (2487 Points)

02 June 2010  

MEMBERS & STUDENTS FRIENDS

THIS IS AN OPPORTUNITY TO ALL YOU STUDENTS TO SEND YOUR VOICE TO ICAI REGARDING ALL YOUR GREVIENCES WHICH VERY OFENT YOU POST ON THIS SITE. NOW IF YOU ALL REALLY CAN COME TOGATHER,  COME UNITE & SEND YOUR VOICE TO ICAI.

 

 

The Institute of Chartered Accountants of India

ANNOUNCEMENT

FOR ATTENTION OF MEMBERS, STUDENTS

AND OTHER STAKE HOLDERS

1st June, 2010

Re: Invitation of views/suggestions for simplification and

rationalization of the provisions of the Chartered

Accountants Regulations, 1988.

As you are aware, the Institute of Chartered Accountants of India

(ICAI) was established on 1st July, 1949 for regulating the profession of

Chartered Accountants in India. The Chartered Accountants Act, 1949

provides for the framework/scheme of regulation of the profession. The

manner (including the procedure) in which such a regulation should be

operational had been dealt with in the Chartered Accountants Regulations

framed under the said Act. The Regulations currently in place, namely, The

Chartered Accountants Regulations, 1988 came in force on 1st June, 1988 and

since then number of amendments pertaining to the affairs of members,

students including examinees and examinations have been made therein,

from time to time, with the prior approval of the Central Government, as

required under the Chartered Accountants Act, 1949.

The said Act had been amended comprehensively in the year 2006 and

required consequential changes/amendments in the Regulations have also

been made since then.

Recently, the Council of the ICAI felt it imperative to undertake a

thorough and comprehensive review/rationalization of Regulations coupled

with the Directions issued by it from time to time for managing the affairs of

the Branches of Regional Councils set up all over the country (having regard

to the efflux of time, changes taken place in socio economic conditions of the

country in the last more than two decades) and for the purpose constituted a

Special Group under the Convenorship of CA. G. Ramaswamy, Vice-President

of the Institute, with the following Terms of Reference:-

2

1. To study and examine the provisions of existing Regulations,

Directions of Council regarding Functions of Branches of Regional

Councils and various decisions of Council/Executive Committee in

place, in light of experience gained and expectations of members,

students, Government/Regulators/Stake-holders and the like and

suggest suitable amendments/changes therein so as to make such

provisions not only more robust and effective, but also to make

them members/students friendly.

2. Any other suggestions, incidental, ancillary and related to the

above.

The Group, while considering the methodology to be adopted for

undertaking the onerous task and its accomplishment, felt that the exercise

being undertaken will not be effective and complete, unless it has with it the

views/suggestions/input of members, students including examinees and the

public at large.

Therefore, members, students and others are requested to kindly send

their views/suggestions in the light of either any difficulty experienced by

them or otherwise for consideration of the Group. The views/suggestions

may kindly be sent at the following address:-

Shri N.P. Singh,

Sr. Joint Secretary,

The Institute of Chartered Accountants of India

Indraprastha Marg,

NEW DELHI – 110 002

These can also be forwarded via e-mailed at e-mail id. “codiregu1988 @

icai.org”.

It may be mentioned that since the present exercise is undertaken

after lapse of about two decades, the response, input and support of

members, students and public at large are of paramount relevance to provide

an effective and member-student friendly delivery system in place through

robust provisions. In other words, the need of the hour is simplification and

rationalization of regulatory framework relating to administration of day to

day affairs of members and students.

T. KARTHIEKYAN

SECRETARY