Author: Admin

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Section 29 read with Rule 20 to 22 deals with cancellation of registration. As per section 29(1) of CGST Act, registration can be cancelled either by the officer suo moto or on filing an application for cancellation. In this article, we are only discussing about the procedures when an application for cancellation is made by…

Read More GST Registration cancellation process and FAQ’s

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Chartered accountants’ apex body ICAI today said it has entered into an arrangement with Chartered Accountants Australia & New Zealand whereby its members based in the two countries would be able to have membership of CA ANZ. The Institute of Chartered Accountants of India (ICAI) has entered into a unilateral arrangement ‘Pilot International Pathway Scheme’…

Read More ICAI members can have CA Australia & New Zealand membership

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The Council of ICAI at its 364th meeting held in March 2017 (in partial modification of decision taken by it at its 350th meeting held in February 2016), has decided that the effective date/applicability of four Standards viz. SA 700 (Revised), SA 705 (Revised), SA 706 (Revised) and SA 701 be deferred by one year…

Read More New format of Auditor’s Report on Standalone Financial Statements of a Listed Entity

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New Format of Auditor’s Report Under SA 700 Effective For Audit of Financial Statements For Period Beginning On Or After April 1, 2018 The Council of ICAI at its 364th meeting held in March 2017 (in partial modification of decision taken by it at its 350th meeting held in February 2016), has decided that the…

Read More New Format of Auditor’s Report Under SA 700 WEF April 1, 2018

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Audit firms have a tough job. Some critics think they shouldn’t have a second one. For years, the Big Four accounting firms have pushed into consulting, seeking growth their core auditing businesses weren’t providing. Since 2012, the firms’ combined global revenue from consulting and other advisory work has risen 44%, compared with just 3% growth…

Read More How Did the Big Four Get $17 Billion in Revenue Growth? Not From Auditing, It has any second Source ?