Committee on Management Accounting The Institute of Chartered ...

ICAI NEWS
122
Empanelment of Chartered Accountant firms for the year 2012-2013
Applications are invited online from the firms
of Chartered Accountants who intend to be
empanelled with this office for appointment as
auditors of Government Companies/Corporations
the year 2012-2013. The format of application
will be available on our website: www.cag.gov.in
from 1 st January to 15 th February 2012. Chartered
Accountant firms can apply/update the data showing
the status of their firm as on 1 st January 2012 and
generate online acknowledgement letter for the year.
They are also required to submit related documents
(to be notified in this office website) to this office
before 28 th February 2012. Only the Chartered
Accountant firms who have generated online
acknowledgement letter for the year 2012-2013 and
THE CHARTERED ACCOUNTANT december 2011
942
submitted the documents before the due dates will be
considered for empanelment.
Any changes in the constitution of the firm occurring
after the cut-off date of 1 st January 2012 should
continue to be updated in the website which will be
available throughout the year. However, the changes
in the firm occurring after 1 st January 2012 till the time
of preparing the panel that will lead to a reduction in
the rank of the applicant firm shall only be taken into
account for ranking the CA firms.
Commencement of Registrations for Certificate Course on International Taxation
We are pleased to announce that the <strong>Committee</strong> on
International Taxation of ICAI has decided to commence
the next Batches of Certificate Course on International
Taxation at following centres:
Goa (http://220.227.161.86/23414citaxchennai.pdf)
Tuticorin (http://220.227.161.86/23417citaxtuticorin.pdf)
Chennai (http://220.227.161.86/23414citaxchennai.pdf)
Ernakulam (Kochi) (http://220.227.161.86/23415citaxkoc
hi.pdf)
Pune (http://220.227.161.86/23416citaxpune.pdf)
Eminent, Expert and Learned Speakers drawn from
all over India will give value addition to this Certificate
Course.
Joining can be done through Payment of prescribed
fees - Register through online payment at ICAI website
and sending the hard copy of the duly filled registration
Requirement of Faculty on Ethics
The Institute of Chartered Accountants of India (ICAI)
intends to utilize the services of Members of ICAI and
others in the field of professional ethics for Chartered
Accountants as Faculty for the different workshops
and seminars on ethics being conducted at different
places all over India. The interested persons may
please send their willingness along with the Bio-Data by
E-mail esb@icai.org or by post to the following :
Sd/-
Director General (Commercial)
form to NOIDA address. Alternatively, make DD of R25000
in favour of ‘The Secretary, The Institute of Chartered
Accountants of India’ Payable at New Delhi and fill the
registration form and send the same to NOIDA address.
It is suggested that kindly make an on line payment
at ICAI website so that registration is confirmed on the
spot. It may be noted that due to limitation of seats, the
registration will be done on ‘first come first serve’ basis.
For further information, pl. contact:
Secretary, <strong>Committee</strong> on International Taxation,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Administrative Office Block,
4 th Floor, A-29, Sector-62, Noida (U.P.) - 201309, India,
Telephone Direct - +91 120 3045923
Mobile No. 09310532063; Email: citax@icai.org
The Secretary
Ethical Standards Board (ESB)
The Institute of Chartered Accountants of India
Indraprastha Marg
New Delhi – 110002
Phone – [+91] (11) 3011 0422

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Information Systems Audit (ISA) Course Assessment Test, December 2011
To be Published in Part III Section 4 of the Gazette of India
No.13-CA(EXAM)/ISA/D/2011: - In pursuance
of Rule 7 of Schedule ‘F’ to Regulation 204 of the
Chartered Accountants Regulations, 1988 (as
amended vide Notification No. 1-CA(7)/59/2001 dated
28 th September 2001), the Council of the Institute of
Chartered Accountants of India is pleased to notify
Notification
ICAI NEWS
November 4 th , 2011
that the Information Systems Audit (ISA) Course
Assessment Test will be held on 24 th December 2011
(Saturday) from 10.30 AM to 2.30 PM at the following
cities provided that sufficient number of candidates
offer themselves to appear from each city as detailed
below.
Sl. No. Name of the Cities Sl. No. Name of the Cities Sl. No. Name of the Cities
1 AHMEDABAD 13 GANDHIDHAM 25 LUDHIANA
2 AMBALA 14 GUWAHATI 26 MADURAI
3 AURANGABAD 15 GWALIOR 27 MUMBAI
4 BANGALORE 16 HYDERABAD 28 NAGPUR
5 BHOPAL 17 INDORE 29 NASIK
6 BHUBANESWAR 18 JAIPUR 30 PANIPAT
7 CHANDIGARH 19 JALANDHAR 31 PUNE
8 CHENNAI 20 JODHPUR 32 RAJKOT
9 COIMBATORE 21 KANPUR 33 RANCHI
10 DELHI / NEW DELHI 22 KOLHAPUR 34 SURAT
11 ERNAKULAM 23 KOLKATA 35 TRIVANDRUM
12 ERODE 24 LUCKNOW 36 VADODRA
The Council reserves the right to withdraw any
centre at any stage without assigning any reason. The
above Test is open only to eligible Members of the
Institute who are already registered with the Institute
for the said course. The fees payable for the above
Assessment Test is R1000/-.
Payment of fees for the Assessment Test should
be made only by Demand Draft. The Demand Draft
may be of any Scheduled Bank and should be drawn
in favour of “The Secretary, The Institute of Chartered
Accountants of India, payable at New Delhi” only.
Application together with the prescribed fee be sent so
as to reach the Additional Secretary (Exams) at New
Delhi on or before 9 th December, 2011.
Applications for admission to the Assessment
Test is required to be made in the prescribed form
which may be obtained from the Additional Secretary
(Exams), The Institute of Chartered Accountants of
India, ICAI Bhawan, Indraprastha Marg, New Delhi –
110 002 on payment of R100/- per application form.
The forms are also available in the Regional and
Branch Offices of the Institute and can be obtained
upon cash payment on or from 21 st November, 2011.
Alternatively, the format of application form can be
downloaded from the website of the Institute viz.
www.icai.org and the cost of the application form
of R100/- can be added to the Assessment Test fee
of R1000/- and the Demand Draft for R1100/- has
to be sent. The last date for receipt of duly filled
in application forms is 9 th December, 2011. The
application together with the prescribed fee should be
sent by Speed Post/Registered Post to the Additional
Secretary (Exams.), New Delhi. The applications
received after 9 th December - 2011 will not be
entertained under any circumstances.
(G. Somasekhar)
Additional Secretary (Exams.)
THE CHARTERED ACCOUNTANT december 2011 123

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New Branches of Students’ Association
In pursuance of Regulation 81(5) of the Chartered
Accountants Regulations, 1988, read with Rule 4 of the
Chartered Accountants Students’ Association Rules
(as contained in Appendix No. (5) to the Chartered
Accountants Regulation 1988), the Council of the
Institute of Chartered Accountants of India is pleased
to announce the setting up of Branches of Central
India Chartered Accountants Students’ Associations
(CICASA) at Patna, Dhanbad, Allahabad, Ajmer,
Saharanpur, Kota, Lucknow, Varansai, Bhilwara, Alwar,
Jamshedpur, Ghaziabad, Jabalpur, a Branch of Eastern
India Chartered Accountants Students’ Association
(EICASA) at Bhubneswar and Branches of Western
India Chartered Accountants Students’ Association
(WICASA) at Bhavnagar, Vapi & Akola with effect from
September 21 st , 2011.
The Branches shall be known as under:
1. Patna of CICASA,
2. Dhanbad of CICASA,
3. Allahabad of CICASA,
4. Ajmer of CICASA,
5. Saharanpur of CICASA,
6. Kota of CICASA,
7. Lucknow of CICASA,
8. Varansai of CICASA,
THE CHARTERED ACCOUNTANT december 2011
9. Bhilwara of CICASA,
10. Alwar of CICASA,
11. Jamshedpur of CICASA,
12. Ghaziabad of CICASA,
13. Jabalpur of CICASA,
14. Bhubneswar of EICASA,
15. Bhavnagar of WICASA,
16. Vapi of WICASA,
17. Akola of WICASA
As prescribed under Rule 4(b), of the Chartered
Accountants Students’ Association Rules, the Branch
shall, at all time function subject to the control,
supervision and direction of the Central Council,
exercised through the Regional Council or the Regional
Students’ Association and shall be governed by the
directions issued by the Central Council from time to
time, for the functioning of the Branches of Students’
Association or such other directions that may be issued
from time to time.
Invitation for Empanelment of Resource Persons for Investor Awareness Programmes
The <strong>Committee</strong> on Financial Markets and Investor’s
Protection (CFM&IP) is one of the Non-Standing
<strong>Committee</strong>s of the Institute. The functions of the
<strong>Committee</strong> include spreading awareness among the
investor about their rights and responsibilities besides
preparing suggestions on various Regulations/Circulars
relating to Financial Markets for submission to the
Government/Regulators.
We are pleased and proud to state that the Institute of
Chartered Accountants of India has been designated as
the nodal authority by the Ministry of Corporate Affairs,
Government of India to organise 4000 Investor Awareness
Programmes across India through the Institute’s vast
network of Regional Councils and Branches during the
year 2011-2012.
The <strong>Committee</strong> invites proposals from Chartered
Accountants, Bankers, Capital Market experts, MBAs,
professors and teachers having a flair of capital market
and public speaking skills for acting as Resource Persons
for conducting the aforesaid programmes. The resource
persons have to plan and organise such programmes
October 27, 2011
Sd/-
(T. Karthikeyan)
Secretary
of two hours duration in small towns (other than district
headquarters) at their own initiative. Arranging venue,
assembling at least 50 participants per programme
and disseminating financial literacy will be their key
responsibilities. For this, MCA will pay a lump sum
amount of R5,000/- per programme inclusive of TA/DA
and honorarium of the Resource Person.
Interested persons are requested to send their
detailed profile along with name of the towns where
they can conduct programmes to the following
address:
The Chairman,
<strong>Committee</strong> on Financial Markets and Investors’
Protection
The Institute of Chartered Accountants of India,
A-29, Sector 62,
Noida 201309
Ph: 09350799912, 0120-3045905/945
E-Mail: cfmip_rp@icai.org
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ICAI NEWS
THE CHARTERED ACCOUNTANT december 2011 125

ICAI NEWS
126
New Publication - Internal Audit Standards Board
Handbook on Professional Opportunities in
Internal Audit
(Pages: 263 pages + 14 initial
pages+ 2 cover pages)
Price: R 250/- (including CD)
The globalisation of
business, growing complexity
of transactions and newage
IT infrastructure have
revolutionised the concept
of trade and commerce.
Simultaneously, the fear of risks
has also grown and to combat
and reduce risk, internal auditors
have come up with better
internal controls. Internal audit profession has witnessed
a sea-change from the traditional typical ‘compliance’ or
‘transaction’ audit to a much more dynamic ‘Risk-based
Audit’, ‘Controls Assessments’, ‘Controls Rationalisation’
and so forth. The range of activities undertaken by internal
audit teams has increased and gained importance. They
cover a whole gamut of operations ranging from review
of finance and operations to providing assurance and
consulting services.
This Handbook on Professional Opportunities in
Internal Audit issued by the Internal Audit Standards Board
discusses the evolving opportunities for the members in
internal audit and is a useful tool for the future of internal
auditors.
Significant Features of the Handbook are:
1. This Handbook is divided into eight parts:
▪ Part I - Provides insight into evolution of internal
audit – past, present and future, Definition of
internal audit, scope and need on internal audit,
internal audit cycle .
▪ Part II – Provides step-wise detailed guidance on
management of internal audit activity from
planning to reporting.
Classifieds
4879 Required CA’s as partners in experienced C.A.firm
in Mumbai with good arrangement/terms and
freedom for personal practice, place and age no
bar. Contact: glen.office@gmail.com/ 26254421/
9920317933.
4880 A firm with over 5 decades at chennai and branches
in mumbai/bengaluru/trichy offering services
in direct taxation/statutory/non satutory audit
wishes to expand its offerings in indirect taxation
& international taxation. the firm is exploring
opportunities to replicate its model at mumbai,
delhi, bengaluru, and hyderabad cities and other
tier ii cities of maharashtra, karnataka, ap,tamil
nadu & puducherry. firm invites proposals for
merger contact email: caacquisitionmerger@gmail.
com
THE CHARTERED ACCOUNTANT december 2011
▪ Part III – Extensive knowledge about the change
in business trends and practices in industrial
services, financial services and service industry.
▪ Part IV – Deals comprehensively with Computer
Assisted Audit Techniques.
▪ Part V – Contains list of Standards on Internal
Audit.
▪ Part VI - Guidance regarding internal audit
reporting
▪ Part VII and VIII -
▫ Provide guidance regarding opportunities available
for internal audit
▫ Deals with the procedures to be followed while
conducting specialised internal audit
2. Contains Specimen Audit Report Cover Letter and
Specimen Internal Audit Report.
This Handbook comes with a CD of the entire material
to ensure ease of reference and reusability.
Ordering Information:
The publication(s) can be obtained from the sales
counter at the Head Office or at the Regional Offices of
the Institute. Copies can also be obtained by post. To
order by post, send a demand draft for the amount of
price of the publication (add the charges indicated below
for the desired mode of delivery) in favour of the “The
Secretary, The Institute of Chartered Accountants of
India, New Delhi”, payable at New Delhi, to the Postal
Sales Department, the Institute of Chartered Accountants
of India, A-29, Sector -62, Noida - 201309.
Postal Charges:
By Courier: Within Delhi: R10/-
Rest of India: R21/-
By Registered Parcel: Within India: R35/-
By Unregistered Parcel Within India: R17/-
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4881 Kochi based firm of Chartered Accountants with
corporate audits require young/experienced CAs.
Selected Candidates will have excellent exposure
to Company/Tax/IS Audit and Consultancy and be
groomed to eventually become partners of the firm.
Please mail your proposals to : babuakallivalil@
gmail.com
4882 Required CA’s as partners/paid assistants for Delhi
firm with long-term arrangements for mutual benefit.
No interference in personal practice, place and age
no bar. Contact: bankaudit2008@gmail.com
4883 CA with CWA, CIA, CISA qualification seeks
assignments/sub-contract in practice or
employment in Bangalore. Contact 735305895
email arvs64@hotmail.com

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ICAI OFFERS
FIRST MBF …
Why MBF* is better than any other MBA Finance course offered by other Institutes?
Knowledge mix for your business needs
Campus Placement
DECEMBER 2011
DELHI & MUMBAI
Genius Inside
* Master indicates the depth of knowledge, coverage as well as capability and do not refer to a post graduate degree.
Course Content
10 years
ICAI NEWS
CMII & CMA JOINTly BRING TO yOu
1. Providing cutting edge finance skills to Qualified & Experienced Chartered Accountants with an average experience
of 10 Years
2. Preparing for Global Economy with special focus on Live Case Studies practised in class room
3. Providing and exploring opportunity to interact with eminent faculty from B-School like Harvard Business School,
Stern School of Business, New York, IIMs, MDI, Management Schools of IITs Premier Universities
4. Create Interactive classroom led by Industry leaders in Private Equity, Fund raising, Banking, Mutual Fund, Forex
Management, Merchant Banking
5. 360 degree overview of business finance domain with comprehensive course content similar to what they teach
you in Top 10 B-Schools
6. More than 100 Books prescribed for reference the latest and the best
7. Focus on practical & managerial approach towards Business Finance to prepare student for CFO and top
Managerial positions
8. Special training sessions on International Taxation, Business Restructuring, Trusts, Intellectual Property etc to
prepare for International Assignments
9. Course is designed to amplify the business finance skills of Chartered Accountants and enabling them to become
Business leaders
10. Well-equipped libraries at ICAI Bhawans at New Delhi, Mumbai & Centres of Excellence, Hyderabad
11. An in built 7 days residential internship/training programme at ICAI’s Centre of Excellence, Hyderabad.
▪ Comprehensive Finance Curriculum
▪ Unique mix of faculty
▪ Focus on Indian market
▪ Innovative practical application
▪ Healthy combination of students
▪ Rigorous testing procedures
How to recruit?
▪ Register on www.cmii.icai.org
▪ Mr. A. P. Kar, Secretary, CMA
Email: ap.kar@icai.org
Phone: +91 – 9350799912
▪ Mr. Surender Pal
Email: cmii@icai.org; spal@icai.in
Phone: +91 – 9350799931
LEVEL I Paper I - Financial Planning & Analysis
Paper II - Fund Raising, Structuring & International Finance
LEVEL II Paper III - Financial Markets & Portfolio Management
Paper IV - Forex, Treasury & Risk Management
LEVEL III Paper V - Valuations, Acquisitions and Risk Analysis
Paper VI - Banking & Trade Finance
Who should recruit MBF?
▪ Bank - operations and credit.
▪ Investment Bankers, Fund & Treasury Managers
▪ Merchant Bankers
▪ Equity Analysts, Private Equity, Mutual Funds,
Hedge Funds, Venture Capital Funds
▪ Corporates for Core Finance, Treasury & Projects,
as CFOs
Work Experience
11-13 years
>13 Years
THE CHARTERED ACCOUNTANT december 2011 127

ICAI NEWS
128
Course Objective
The <strong>Committee</strong> on Management Accounting (CMA) of
ICAI will conduct 3 rd Batch of Master in Business Finance
Certificate Course (MBFCC). Course coverage is
extensively wide across various topics of advanced
financial management like Capital Market, Investment
Banking, Fund Raising & Fund Management, Corporate
Valuation, Merger Acquisition, Banking , Forex Market,
Treasury Management, Risk Management etc. with an
aim to provide knowledge and skill required for tomorrow’s
CFO and high end consultancy in finance.
THE CHARTERED ACCOUNTANT december 2011
Certificate Course on
Master in Business Finance
Comprehensive Finance Curriculum
Unique mix of faculty
Focus on Indian Market
Innovative practical and managerial applications
Good combination of experience profile of students
Eligibility
Only the Members of ICAI and the Students of the Institute
who have passed the CA Final Examination
are eligible to pursue this Course.
Course Contents
LEVEL I :
Paper I - Financial Planning , Analysis & Management
Paper II - Fund Raising, Structuring & Portfolio Management
LEVEL II
Paper III - Financial Markets & Capital Market
Paper IV - Forex, Treasury & Risk Management
LEVEL III
Paper V - Valuations, Acquisitions and Risk Analysis
Paper VI—Banking & Trade Finance
Course Duration and Course Hours
This is approximately One year course. Classes will be
held on alternative Saturdays ( 2 pm to 8 pm) and Sundays(
9am to 2pm). Further, there will be two ( one week
each) full day residential programmes at Centre of Excellence
ay Hyderabad.
3 rd Batch Delhi, Mumbai, Chennai & Kolkata
from January 2012
Two Weeks Full Time Residential Programme
at Centre of Excellence, Hyderabad
The Residential Programme aims at bringing eminent
national and international faculty members to guide the
students in undertaking practical and innovative project
work . The fees for Residential Programmes at
Centre of Excellence at Hyderabad for which Rs. 20,000
(Rs. Twenty thousand only) for two Residential programme
which include cost of stay , food etc.
Faculty
The Faculty members for the course are from IIM’s,
XLRI, NIBM, MDI, premier Universities , Public & Private
Sector Banks/ Financial Institutions, Mutual Funds,
ICRA, SIDBI, ICRA, Senior Chartered Accountants from
Industry Profession and reputed academicians.
Course Registration
The course registration is on receipt of duly filled in and
signed Course Registration form with course fee of Rs.
30,000 (Rs. Thirty Thousand only) vide DD/ Pay Order in
favor of “The Secretary, ICAI” payable at Delhi. Course
fee can also be paid online through ICAI Payment Portal
:www.icai/com/html
Registration Form Submission:
The Registration form with course fee has to be sent at
the following address:
The Secretary,
<strong>Committee</strong> on Management Accounting (CMA)
ICAI Bhawan
Administrative Block, 3 rd Floor
A-29, Sector-62 Noida (U.P)
Pin :-201309
Ph:-0120-3045905 / 9350799912
E-mail:-cma@icai.in, cma@icai.org
( Details in website www.icai.org)
<strong>Committee</strong> on Management Accounting
The Institute of Chartered Accountants of India
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