The major changes for May 2011 and November 2011 examinations are made in the January 2011 edition of the Study Materials which are given hereunder –
- Chapter 1 on “Accounting Standards and Guidance Notes” has been revised in line with the latest applicable Accounting Standards and Guidance Notes.
- Chapter 2 on “IAS, IFRS, their interpretations & US GAAPs – An Overview” has been revised in line with the latest amendments in IFRS and its interpretations.
- Chapter 8 on “Financial Reporting for Financial Institutions” has been updated in line with –
(i) SEBI (Mutual Funds) (Amendment) Regulations, 2010;
(ii) Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and circulars issued from time to time;
(iii) SEBI (Merchant Bankers) (Amendment) Regulations, 2010;
(iv) SEBI (Stock brokers and Sub-brokers) (Amendment) Regulations, 2010; and
(v) SEBI (Intermediaries) Regulations, 2008.
Strategic Financial Management
The following chapters in the Study Material have been thoroughly revised :
- Chapter 1 -“Financial Policy and Corporate Strategy”
- Chapter 2 -“Project Planning and Capital Budgeting”
- Chapter 3 “Leasing decision”
- Chapter 4 -“Dividend Decisions”
- Chapter 5 -“Indian Capital Market”
- Chapter 7 “Portfolio Theory”
- Chapter 9 “Mutual Funds”
- Chapter 12 -“Foreign Exchange Exposure and Risk Management”
- Chapter 13 -“Mergers, Acquisitions and Restructuring”.
Advanced Auditing and Professional Ethics
The following chapters have been updated in line with the latest standards on auditing :
- Chapter 1 on “Auditing Standards, Statements and Guidance Notes -An overview”,
- Chapter 2 on “Audit Strategy Planning and Programming”,
- Chapter 3 on “Risk Assessment and Internal Control” (including Salient Feature of Sarbanes Oxley Act, 2002 as an annexure),
- Chapter 5 on “Special Audit Techniques” and
- Chapter 8 on “Audit Report”
- Further, Chapter 14 on “Audit of Non Banking Financial Companies” has been updated as per the latest notifications and circulars issued by RBI.
- Also, Chapter 15 on “Audit under Fiscal Laws” has been updated based on the law as amended by the Finance Act 2010.
- In addition, Chapter 21 on “Peer Review” and Chapter 22 on “Code of Ethics” have also been updated.
- Text of all latest Standards on Auditing have also been given separately in Volume II.