COME STUDENTS RATHER THEN JUST CRIBBING AMONGST YOURSELF ONLY ON THIS SITE, TAKE THIS OPPORTUNITY TO SEND YOUR COLLECTIVE VOICE TO ICAI
The Institute of Chartered Accountants of India
ANNOUNCEMENT
FOR ATTENTION OF MEMBERS, STUDENTS
AND OTHER STAKE HOLDERS
1st June, 2010
Re: Invitation of views/suggestions for simplification and
rationalization of the provisions of the Chartered
Accountants Regulations, 1988.
As you are aware, the Institute of Chartered Accountants of India
(ICAI) was established on 1st July, 1949 for regulating the profession of
Chartered Accountants in India. The Chartered Accountants Act, 1949
provides for the framework/scheme of regulation of the profession. The
manner (including the procedure) in which such a regulation should be
operational had been dealt with in the Chartered Accountants Regulations
framed under the said Act. The Regulations currently in place, namely, The
Chartered Accountants Regulations, 1988 came in force on 1st June, 1988 and
since then number of amendments pertaining to the affairs of members,
students including examinees and examinations have been made therein,
from time to time, with the prior approval of the Central Government, as
required under the Chartered Accountants Act, 1949.
The said Act had been amended comprehensively in the year 2006 and
required consequential changes/amendments in the Regulations have also
been made since then.
Recently, the Council of the ICAI felt it imperative to undertake a
thorough and comprehensive review/rationalization of Regulations coupled
with the Directions issued by it from time to time for managing the affairs of
the Branches of Regional Councils set up all over the country (having regard
to the efflux of time, changes taken place in socio economic conditions of the
country in the last more than two decades) and for the purpose constituted a
Special Group under the Convenorship of CA. G. Ramaswamy, Vice-President
of the Institute, with the following Terms of Reference:-
2
1. To study and examine the provisions of existing Regulations,
Directions of Council regarding Functions of Branches of Regional
Councils and various decisions of Council/Executive Committee in
place, in light of experience gained and expectations of members,
students, Government/Regulators/Stake-holders and the like and
suggest suitable amendments/changes therein so as to make such
provisions not only more robust and effective, but also to make
them members/students friendly.
2. Any other suggestions, incidental, ancillary and related to the
above.
The Group, while considering the methodology to be adopted for
undertaking the onerous task and its accomplishment, felt that the exercise
being undertaken will not be effective and complete, unless it has with it the
views/suggestions/input of members, students including examinees and the
public at large.
Therefore, members, students and others are requested to kindly send
their views/suggestions in the light of either any difficulty experienced by
them or otherwise for consideration of the Group. The views/suggestions
may kindly be sent at the following address:-
Shri N.P. Singh,
Sr. Joint Secretary,
The Institute of Chartered Accountants of India
Indraprastha Marg,
NEW DELHI – 110 002
These can also be forwarded via e-mailed at e-mail id. “codiregu1988 @
icai.org”.
It may be mentioned that since the present exercise is undertaken
after lapse of about two decades, the response, input and support of
members, students and public at large are of paramount relevance to provide
an effective and member-student friendly delivery system in place through
robust provisions. In other words, the need of the hour is simplification and
rationalization of regulatory framework relating to administration of day to
day affairs of members and students.
T. KARTHIEKYAN
SECRETARY
CAclubindia
