Every 6 months we get amendments in IPCC know..... so do we get amendments only in subjects like taxation and law or even in other subjects like accounts, audit..etc????
Sneha Sree Pujari (Student) (159 Points)
21 December 2011Every 6 months we get amendments in IPCC know..... so do we get amendments only in subjects like taxation and law or even in other subjects like accounts, audit..etc????
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 21 December 2011
@ sneha. ammendments are major in taxation as the finance act changes every year and new circulars and clarifications are issued.
In law there are not such major ammendments example... this november attempt only 1 ammendment was dere. Though a major ammendmnt is in progress COMPANIS BILL 2011 which will replace the 55 year old act
As far as accounts is concerned, no major ammendments are there. Though again with the adoption of IFRS, Ind AS within 3-4 attempts there would be severe changes in papers of both Final and IPCC
Regarding Audit, there are some new standards on auditing (SA) introduced, new schedule VI etc
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