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udaychandu

udaychandu (Querist)

07 January 2014 can the companies act2013 & IND AS will be applicable to may 2014 I.P.C.C. exams?

Ankur Garg

Ankur Garg (Expert)

07 January 2014 Dear Friend,

It is a fact that the Companies Act, 2013 passed by the Parliament with assent of the President of India dated 29th August, 2013, was not applicable for November 2013 examination.

As far as applicability of Companies Act, 2013 for May and November 2014 examination is concerned, the same will be notified by ICAI in due course, once the date of enforcement of the provisions of the Act is notified. Till date only 98 section are applicable from Companies Act 2013.

May and November 2014 examination:

There are very high chances of 100 % applicability of Companies Act, 2013 for November 2014 CA exams. However we have to wait for full applicability of Companies Act, 2013 along with final announcement in this regard by ICAI.

As per my opinion all the students are advised to prepare the following for May and November 2014 examination:

1. Short note on the Companies Act, 2013.
2. Implications and need for the introduction of Companies Act, 2013.
3. At least 10 points of difference between Companies Act, 2013 and Companies Act, 1956.
4. Corporate reforms eyed through the introduction of Companies Act, 2013.
5. Quick reading of 98 sections of Companies Act, 2013 notified by the Ministry of Corporate affairs (MCA).

I hope the above advice would be of some help. It is always better to start now rather than wait for the notification of ICAI. Keeping in view the speed of MCA, regarding Companies Act, 2013, I am quite sure that entire Act will be applicable for November 2014 CA attempt.

You are requested to share your opinion in this regard.

Thanks
Ankur Garg

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