Supplier Finance Arrangements – Proposed amendments to IAS 7 and IFRS 7

RELEVANT EXTRACT  Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Paper (DP), Exposure Draft (ED) etc]

Non-current Liabilities with Covenants – Proposed amendments to IAS 1

RELEVANT EXTRACT  Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Paper (DP), Exposure Draft (ED) etc]

Further Extension of Last Date for Submitting MEF 2021-22 from November 20 to November 25, 2021

RELEVANT EXTRACT  Considering the various requests received from the Members of ICAI, it has been decided by the Professional Development Committee to extend the last date for submission of online Multipurpose Empanelment Form along with the Declaration for the year 2021-22 by another 5 days.

Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) – Adv. Information Technology Test on 25th November 2021

RELEVANT EXTRACT  It has been decided to conduct Advanced ICITSS - Adv. IT Test - in Computer Based Mode (CBT) as per following dates. Test Date 25-Nov-2021 Eligibility Criteria i.e., Advanced ICITSS -Advanced IT course to be completed on/before 10-Nov-2021 Commencement of submission of examination

Announcement for Extension of Last Date of MEF 2021-22

RELEVANT EXXTRACT  ANNOUNCEMENT FOR EXTENSION OF LAST DATE FOR SUBMITTING MEF 2021-22 FROM NOVEMBER 10 TO NOVEMBER 20, 2021 The Multipurpose Empanelment Form (MEF) for the year 2021-22 is live at https://meficai.org. Considering the various requests received from the Members of ICAI, it has been decided

Announcement by CL&CGC ICAI regarding Further Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014 to 30th November, 2021

RELEVANT EXTRACT  This is to inform you that the Ministry of Corporate Affairs has further extended the last date of filing of Cost Audit Report for the FY 2020-21 by the Cost Auditor to the Board of Directors of the Companies from 31st October, 2021

Announcement regarding Advise to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the year ending 31/03/2020, immediately without any delay, if not filed already by CL&CGC ICAI

RELEVANT EXTRACT  As per Rule 5 of NFRA Rules 2018, it has been prescribed that the auditors of class of companies specified in Rule 3(1) are required to file an annual return with NFRA in the prescribed form (NFRA-2) on or before 30th November every

Announcement by CL&CGC ICAI regarding Relaxation to pay additional fees in case of delay in filing Form-8 (Statement of Account and Solvency) by LLPs till 30th December, 2021

RELEVANT EXTRACT  This is to inform you that the Ministry of Corporate Affairs vide its General Circular No 16/2021 has granted extension to LLPs for filing of eForm-8 (Statement of Account and Solvency) for two months i.e. from 30th October, 2021 to 30th December, 2021.

Re-opening of Online Empanelment of Members to act as Observers for December 2021 Examinations up to 26th October 2021

RELEVANT EXTRACT  It has been decided to re-open the online empanelment of members to act as observers at the examination centres for the chartered accountants’ examinations, December 2021, from 22nd October 2021 to 26th October 2021. The eligible Members who could not get empanelled, may get

72nd Annual Report and Accounts of the Institute for the year 2020-21

RELEVANT EXTRACT  In accordance with the provisions of sub-section (5B) of Section 18 of the Chartered Accountants Act, 1949, a copy of the Annual Report and Accounts of the Institute for the year ended on 31st March, 2021 is required to be published in the

Re-Opening of Online filling up of Examination Application Forms for Chartered Accountants Examinations, December, 2021

RELEVANT EXTRACT  Considering the prevailing COVID-19 situation and in the interest of welfare & well-being of the students, to mitigate their hardship, it has been decided to re-open the online filling up of examination application form for Chartered Accountants December, 2021 Final, Intermediate (IPC), Intermediate,

Important Announcement regarding extension of last date for payment of Membership/COP Fees

RELEVANT EXTRACT  The Council of ICAI has suo moto decided to extend the last date for payment of Membership/ COP fee for the year 2021-22 from 30th September, 2021 to 31st December, 2021. Members, who have not paid their fee, are requested to pay online

Announcement by CL&CGC ICAI regarding Extension of time for holding of Annual General Meeting (AGM) for the Financial Year ended on 31.03.2021 by Two Months beyond the due date

RELEVANT EXTRACT  This is to inform you that the Ministry of Corporate Affairs (Registrar of Companies of  various States) vide its Order dated 23.09.2021 has extended the timeline to conduct Annual  General Meeting (AGM) of the Companies by two months beyond the due date within 

Government extends certain timelines to ease compliances

RELEVANT EXTRACT  The Central Government, in continuation of its commitment to address the hardship  being faced by various stakeholders on account of the Covid-19 pandemic, has, on  consideration of representations received from various stakeholders, decided to extend  timelines for compliances under the Income-tax Act, 1961

Please pay Membership/COP fee by 30th September, 2021 to avoid removal of Membership/COP and consequential effects

RELEVANT EXTRACT  In continuation of our Fee Circular dated 25th June 2021 followed by email reminders dated 3rd September,  2021 and 9th September, 2021 requesting the members to pay Membership/COP fee, which might have escaped  your attention, may be, due to other engagement, the Institute

Aligning the Time Limit of Generating UDIN from 15 days to 60 days

RELEVANT EXTRACT  Standard on Quality Control (SQC 1) on Retention Period for Engagement Documentation (Working Papers) requires firms to establish policies and procedures for the timely completion of the assembly of audit files. It further provides for an appropriate time limit within which the assembly