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Accountancy News 24-Aug-07

ICWAI: Open door system for entry after graduation

The Kolkata-based Institute of Cost and Works Accountants of India (ICWAI) has drawn up a roadmap for global recognition of the Institute so that students from other countries can join the course. “Our focus will be on e-learning so that foreign students can study,” said Mr Chandra Wadhwa, President of the Institute, speaking to Business Line. Read More

Fair value accounting a 'bubble-blowing' model

Two influential academics have slated fair value accounting as a 'bubble-blowing accounting model' that has contributed to the recent market crash and credit crunch. Read More

ICAI to open 12 new centres of excellence

The Institute of Chartered Accountants of India (ICAI) is contemplating the setting up of 12 centres of excellence for chartered accountants (CAs) across the country within two years. The centres would enhance the capability, quality and performance of CAs in the country. Read More

ICAI mulls action against audit firm

The Institute of Chartered Accountants of India (ICAI) may consider action against Haribhakti & Co, the internal auditor of Karvy Stock Broking Ltd, for failing to report multiple depository account opening for IPO scamsters. Read More

CAs to help Cong get the numbers right

The next time you hear a politician straining his vocal chords at some public forum, rest assured he would be ranting some numbers, figures, growth rates and percentages, besides the usual speech. For, the numeric ammunition will soon be supplied by a qualified chartered accountant (CA). Read More

ICAEW revises annual return

The Quality Assurance Department (QAD) of the Institute of Chartered Accountants in England and Wales has revised the annual return following feedback from members.

The new format comes into effect for those members due to file a return from September onwards. The first firms are already beginning to receive the new return and revised set of guidance notes, which were piloted by volunteer firms to make sure that they are clear and comprehensive. Read More

ICAS report accuses ACCA of scramble for Africa

In the blistering heat of sub-Saharan West Africa, an unseen battle is raging for accountants’ hearts and minds - according to research commissioned by ICAS. Chibuike Uche, of the university of Nigeria, has authored a report arguing that ACCA’s international presence has stunted the ability of developing countries to train and develop their own accounting manpower. Rob Lewis reports. Read More

Cost auditing an avoidable cost

Is cost audit now a superfluous tool for scrutinising business practices? According to recent reports, the government has an open mind on this question, but has placed under review the present practice of mandatory (government-imposed) cost audit. Read More


Santosh Puthran

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