siddharth jain (ca- ipcc) (197 Points)
03 January 2011
hii friends! i know that the
main work of a 'CA' is to audit the account of the assesse and make audit report.
but can you tell me..
Besides above task do companies provide some other works to (or get services of) a ca?
please provide me complete list of all the task which a company may provide to a CA
thanx
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 03 January 2011
To empower the members to face the emerging challenges in the service sector as well as to equip them for the opportunities in the non-audit service area, the Council decided to allow members in practice to hold the office of Managing Director, Whole-time Director or Manager of a body corporate within the meaning of the Companies Act, 1956 provided that the body corporate is engaged exclusively in rendering Management Consultancy and Other Services permitted by the Council in pursuant to Section 2(2)(iv) of the Chartered Accountants Act, 1949 and complies with the conditions(s) as specified by the Council from time to time in this regard.
The members can retain full time Certificate of Practice besides being the Managing Director, Whole-time Director or Manager of such Management Consultancy Company. There will be no restriction on the quantum of the equity holding of the members, either individually and/or along with the relatives, in such Company. Such members shall be regarded as being in full-time practice and therefore can continue to do attest function either in individual capacity or in Proprietorship/Partnership firm. They are also entitled to train articled/audit assistants.
Management Consultancy Company means a Company which complies with the Guidelines for Practice in Corporate Form issued by the Institute. Management Consultancy & Other Services or MCS means ‘Management Consultancy & Other Services’ permitted by the Council in pursuance to Section 2(2)(iv) of the Chartered Accountants Act, 1949. The expression "Management Consultancy and other Services" shall not include the function of statutory or periodical audit, tax (both direct taxes and indirect taxes) representation or advice concerning tax matters or acting as liquidator, trustee, executor, administrator, arbitrator or receiver, but shall include the following:
Financial management planning and financial policy determination.
Capital structure planning and advice regarding raising finance.
Working capital management.
Preparing project reports and feasibility studies.
Preparing cash budget, cash flow statements, profitability statements, statements of sources and application of funds etc.
Budgeting including capital budgets and revenue budgets.
Inventory management, material handling and storage.
Market research and demand studies.
Price-fixation and other management decision making.
Management accounting systems, cost control and value analysis.
Control methods and management information and reporting.
Personnel recruitment and selection.
Setting up executive incentive plans, wage incentive plans, etc.
Management and operational audits.
Valuation of shares and business and advice regarding amalgamation, merger and acquisition.
Business Policy, corporate planning, organisation development, growth and diversification.
Organisation structure and behaviour, development of human resources including design and conduct of training programmes, work study, job-descripttion, job evaluation and evaluation of work loads.
Systems analysis and design, and computer related services including selection of hardware and development of software in all areas of services which can otherwise be rendered by a Chartered Accountant in practice and also to carry out any other professional services relating to EDP.
Acting as advisor or consultant to an issue, including such matters as: —
Drafting of prospectus and memorandum containing salient features of prospectus. Drafting and filing of listing agreement and completing formalities with Stock Exchanges, Registrar of Companies and SEBI.
Preparation of publicity budget, advice regarding arrangements for selection of (i) ad-media, (ii) centres for holding conferences of brokers, investors, etc., (iii) bankers to issue, (iv) collection centres, (v) brokers to issue, (vi) underwriters and the underwriting arrangement, distribution of publicity and issue material including application form, prospectus and brochure and deciding on the quantum of issue material (In doing so, the relevant provisions of the Code of Ethics must be kept in mind).
Advice regarding selection of various agencies connected with issue, namely Registrars to Issue, printers and advertising agencies.
Advice on the post issue activities, e.g., follow up steps which include listing of instruments and despatch of certificates and refunds, with the various agencies connected with the work.
Explanation: For removal of doubts, it is hereby clarified that the activities of broking, underwriting and portfolio management are not permitted.
Investment counselling in respect of securities [as defined in the Securities Contracts (Regulation) Act, 1956 and other financial instruments.] (In doing so, the relevant provisions of the Code of Ethics must be kept in mind).
Acting as registrar to an issue and for transfer of shares/other securities. (In doing so, the relevant provisions of the Code of Ethics must be kept in mind).
Quality Audit.
Environment Audit.
Energy Audit.
Acting as Recovery Consultant in the Banking Sector.
Insurance Financial Advisory Services under the Insurance Regulatory & Development Authority Act, 1999, including Insurance Brokerage
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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