A. TECHNICAL REVIEWER AT FINANCIAL REPORTING REVIEW BOARD
To improve the financial reporting practices in the country, the ICAI has constituted Financial Reporting Review Board (FRRB). The Board reviews the General-Purpose Financial statements of enterprises with a view to determine compliance with the reporting requirements of various applicable statutes, accounting standards and standards on auditing.
Eligibility Criteria
- Possess at least ten years' experience of audit and
- Be currently active in the practice of accounting and auditing
- The members of the Institute who are having comparable experience in industry are also eligible for empanelment on the panel of Technical Reviewers.
B. TECHNICAL REVIEWER AT QUALITY REVIEW BOARD
Quality Review Board (the 'Board') to recommend to the Council, review and guide the members regarding the quality of services provided by the members of the Institute including audit services as per Section 28B of the Chartered Accountants Act, 1949.
Eligibility Criteria
- You should have minimum fifteen years of post-qualification experience as a chartered accountant and be currently active in the practice of accounting and auditing;
- You should have handled as a signing partner/proprietor at least three statutory audit assignments as a Central Statutory Auditor of Banks/Public Limited Companies/ Government Companies/Private Limited Companies having annual turnover of rupees fifty crore and above during the last ten financial years; Provided that out of the aforesaid three statutory audit assignments, at least one must be in respect of entities other than Private Limited Companies;
- You should not have any disciplinary proceeding under the Chartered Accountants Act, 1949 pending against you or any disciplinary action under the Chartered Accountants Act, 1949 / penal action under any other law taken/pending against you during last three financial years and/or thereafter.
- You should not currently be a Member of the QRB Board or ICAI's Central Council/Regional Council/Branch level Management Committee.
C. ENGAGEMENT AS PEER REVIEWER
(a) comply with Technical, Professional and Ethical Standards as applicable including other regulatory requirements thereto and
(b) have in place proper systems including documentation thereof, to amply demonstrate the quality of the assurance services.
Eligibility Criteria an individual serving as a reviewer shall
(a) be a member;
(b) possess at least ten years' experience of audit;
(c) be currently active in the practice of assurance service engagements; and
(d) be free from any obligation or conflict or interest in the reviewed firm or its partners or personnel
D. OPPORTUNITIES IN BOARD OF STUDIES
- Visiting faculty in IT labs run by Board of Studies.
- Video lecturing to Students of CPT, Inter and Final – 4000- 6000 per hour.
- Articles in ICAI Journal - 5,000 per published article.
- Articles in Students Newsletter - 2,500 per published article.
- Review of article to be published in Students' Newsletter - 1000.
- Review of Study Material - 100 per page and 150 per page of addition suggested.
- Faculty in GMCS classes and Orientation Programmes - 750 to 1500 per 90 minutes.
E. OPPORTUNITIES IN EXAMINATION COMMITTEE
The services of Chartered Accountants are also utilized by ICAI as Evaluators for the Exam Papers with following terms and conditions:
- Chartered Accountants with a minimum of four years standing in practice or in service are eligible.
- University Lecturers/Professors with a minimum of five years teaching experience are eligible.
- ICWA, ACS, M. Com, Post Graduates in Economics or Law, Lawyers, IT Professionals, MBA (Finance) and other professionals with at least five years' experience, either in academic position or in practice or in employment are eligible to apply. Those with work experience having direct relevance to the aforesaid subjects(s) of examination(s) will be preferred.
- Persons above 65 years of age are not eligible.
- Persons who are visually impaired or suffer from such other physically disability that might necessitate taking the assistance of any other person for evaluation of answer books are not eligible.
- Persons who are undergoing CA Course of the Institute are not eligible.
- Persons whose applications were rejected earlier from the Panel are eligible to apply again after a gap of 1 year from the date of rejection.
- Those who are already empanelled with ICAI as examiners and have not been rested/removed need not apply. Their candidature will be considered in the normal course, at the appropriate time.
- Persons associated with the coaching activities are not eligible. Those who have ceased to be associated with the coaching activity are permitted to apply after a gap of 5 years.
- An applicant for empanelment is required to appear and pass an on-line test in the subject of his choice, answer books of which he would like to evaluate, before being empanelled.
F. TAX AUDIT REVIEW BOARD (TAQRB)
For empanelling as a Technical Reviewer with TAQRB, a member needs to satisfy the following conditions:
- Possess at least 10 years' Post Qualification experience in the practice of taxation (Direct and/or Indirect); and
- Be currently active in the practice of taxation.
A technical Reviewer is entitled to receive an honorarium of 10,000/- per report reviewed.
G. OTHER OPPORTUNITIES IN ICAI
- One can act as a Resource Person in Study Groups.
- Faculty in in-house Executive Development Programmes.
- For contribution on Technical Publications on varied subjects – 25,000 to 60,000.
- Faculty in Certificate courses and PQ courses conducted by ICAI, 1,000-3,000 per hour.
- Paper Setter and Examiner in the examinations conducted arising out of above PQ and Certificate Courses – Honorarium ranges around 6000 to 1000 for paper setting, 50-100 for examinership.
Disclaimer: The information contained in this article is based on knowledge obtained from ICAI. It is provided for general guidance to the intended user. I recommend that professional advice is necessary before taking any action on the basis of the article provided.
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