Important decisions taken by ICSI Council meeting held on 26th September 20

Last updated: 06 October 2020

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The ICSI Council convened on 26th September 2020, making several significant decisions. Key outcomes include the approval of the annual accounts and report for 2019-20, and the establishment of ICSI Overseas Centres in Singapore, Australia, and Canada. Amendments to eCSin Guidelines and the eCSin Amnesty Scheme were also approved, alongside a Guidance Note on Independent Directors. The mandatory applicability of ICSI Auditing Standards (CSAS-1 to CSAS-4) has been extended to 1st April 2021.

Important decisions taken by the Council of the ICSI at its meeting held on 26th September, 2020

1. Approved the Annual Accounts and Annual Report of the Institute for the Financial Year 2019-20.

2. Setting up of ICSI Overseas Centre at Singapore, Australia and Canada.

3. Approved the amendments to eCSin Guidelines - 2019 and the eCSin Amnesty Scheme-2020.

4. Approved the Guidance Note on Independent Directors.

5. Extended the mandatory applicability of ICSI Auditing Standards (CSAS-1 to CSAS-4) from 1st October, 2020 to 1st April, 2021.

6. Approved the Exposure Draft Guidance Note - Auditing Standard on Secretarial Audit CSAS-4 for public comments.

7. Extended benefit of Peer Review to the Quality Reviewed Units by issue of Peer review certificates.

8. Approved the conduct of Tutorials/Doubt clearing online classes for the students appearing in December 2020 session of examination.

9. Additional Adhoc Examination Centres for Foundation/ Executive/Professional Programme Examinations, December, 2020 were approved.

FAQ :

The Council approved annual accounts and reports, decided to set up overseas centres in Singapore, Australia, and Canada, approved amendments to eCSin Guidelines and the eCSin Amnesty Scheme, and approved a Guidance Note on Independent Directors.

The mandatory applicability of ICSI Auditing Standards (CSAS-1 to CSAS-4) has been extended from 1st October 2020 to 1st April 2021.

New ICSI Overseas Centres will be set up in Singapore, Australia, and Canada.

The Council approved the conduct of online tutorials and doubt-clearing classes for students appearing in the December 2020 examination session. Additional ad-hoc examination centres were also approved.

Yes, a Guidance Note on Independent Directors was approved, and an Exposure Draft Guidance Note on Auditing Standard on Secretarial Audit CSAS-4 was approved for public comments.

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