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ASB is a committee under Institute of Chartered Accountants of India (ICAI) which consists of representatives from government department, academics, other professional bodies viz. ICAI, representatives from ASSOCHAM, CII, FICCI, etc. ICAI is an independent body formed under an act of parliament.
IFRS-converged Indian Accounting Standards (Ind AS) has been implemented in India in a phased manner from 1 April 2015 being the voluntary date of adoption of Ind AS. The mandatory application of Ind AS has been restricted to listed and unlisted companies with a net worth of Rs. 500 crore and above from the accounting year beginning on or after ...
Ind AS 115 ICDS V Tangible Fixed Assets AS 10 Ind AS 16 ICDS VI The Effects of Changes in Foreign Exchange Rates AS 11 Ind AS 21 ICDS VII Government Grants AS 12 Ind AS 20 ICDS VIII Securities AS 13 Ind AS 32, 107 and 109 ICDS IX Borrowing Costs AS 16 Ind AS 23 ICDS X Provisions, Contingent Liabilities and Contingent Assets AS 29 Ind AS 37
The Chairman of the Central Board of Direct Tax (India) constituted under the Central Board of Revenue Act, 1963 (India) or his nominee; 6. Two members to represent the chambers of commerce and industry to be nominated by The Central Government of India; and 7. One representative of the Security and Exchange Board of India to be nominated by it.
Under this act, The Institute of Chartered Accountants of India was established as a statutory body for the promotion, development and regulation of "the profession of Chartered Accountants in India". The law provides for qualifications, elections for central as well as regional councils, penalties for misconduct by Chartered Accountants.
In India, a Chartered Accountant is a qualified accountant of the Institute of Chartered Accountants of India.Chartered Accountants have knowledge of various subjects like accounting, auditing, corporate laws, costing and various aspects of direct and indirect taxation.
The standards lays down the primary qualitative measures for conducting investigations. The full set of FAIS standards drafted for the forensic professionals by The Institute of Chartered Accountants of India (ICAI) with the help of group of professionals and experts is the first in the accounting world. [1]
The CPT or Common Proficiency Test was the first level of Chartered Accountancy examinations in India which has been changed to CA Foundation according to ICAI's revised scheme. [ 1 ] Eligibility