The Chartered Accountant

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& Preface Icai news Competency Mapping for Accountancy Professionals Last Date of Submission: 15 th December, 2008 The role of an accountant is changing from perspective of the industry. It goes to the credence of the Chartered accountancy profession that its product i.e Chartered accountant members have been able to make their mark felt in the professional dome. The world today is of specific competencies and mapping of such competencies which are ultimately required by the users of members in industry is something which is core to possibly creating a re-alignment of CA profession module. While, the post membership programs reinforce an education already undertaken albeit in specific programs which intending members intend to pursue , it is important to take review of the developments globally and their impact on job market in India. One also sees a steady growth of the members moving to industry and may be returning to licensed practice; this being typically true for the new professional. This could also reflect on the competencies required for members vis-à-vis those in practice and those in industry. The ongoing structural ramifications in accounting profession taking place world wide would influence the profession and possibly need a sustained response on on-going basis; such issues being of nature which warrant due positioning to be undertaken for the benefit of the membership at large. The issues being timely and requiring threshold reaction are thus needed to be addressed at a shorter notice and hence there is a need for the response of membership to such structural factors. Institute invites the comments of members in industry to take out time for responding to the Questionnaire as follows for drawing an insight into the competency mapping of the professional traits which are considered to be of foremost important for the members of profession from the view point of industry. The response would be kept totally confidential and would not be used for another perspective other than to assess the current trends for taking future positions if so warranted. It may also be added that the response stated herein would entitle one for CPE credit of 1 hour. Members are requested to respond to the below questionnaire either electronically on the homepage of in- 1 CPE Hour stitute’s website www.icai.in or submitted in physical form so as to reach us by 15 th December 2008 to: Secretary, Perspective Planning Committee The Institute of Chartered Accountants of India Post Box No. 7100, Indraprastha Marg New Delhi – 110002 Questionnaire QUESTION 1. Do you work in: a) Self employed b) CA firm c) Industry d) Others, please specify______________________ QUESTION 2. What type of business or organization do you work in? a) Public Sector b) Accountancy Firm c) Other type of Business d) Career break/ not currently working e) Others, please specify ______________________ QUESTION 3. How long ago did you qualify CA? a)
) 25-35 c) 36-45 d) 46-55 e) 56-65 f) Over 65 QUESTION 6. Place of work falls in : a) North Zone b) East Zone c) South Zone d) West Zone e) Central Zone QUESTION 7. Place of work situated in : a) Metro ((Delhi,Mumbai, Kolkatta ,Chennai, Hyderabad,Bangalore) b) Non-Metro QUESTION 8. Do you work: a) Full time, in a permanent role b) Part time c) On a fixed term contract d) Others, please specify ______________________ QUESTION 9. In a typical week, how many hours do you spend working, in your office or elsewhere? a) Upto 20 hours b) 21-40 hours c) 41-60 hours d) 61- 80 hours e) Above 80 hours Comments , if any ________________________ QUESTION 10. What is your current job level? a) Top Management b) Middle Management c) Executive/ Manager d) Independent/ Partner e) Accountant Others, if any ____________________________ QUESTION 11. How many employees work in your or- DECEMBER 2008 1042 THE CHARTERED ACCOUNTANT Icai news ganization? a) 1-20 b) 21-50 c) 50-100 d) 101-500 e) 501-1000 f) 1001-5000 g) More than 5000 Comments, if any _________________________ QUESTION 12. What is the annual turnover of your organization? a) Less than 50 crores b) 50-500 crores c) 500 crores-1000 crores d) More than 1000 crore Comments, if any _________________________ QUESTION 13. What is your annual emoluments (Cost to Company)? a) Less than 3 lakh b) 3- 5 lakh c) 5-10 lakh d) 10-20 lakh e) Above 20 lakhs Comments, if any _________________________ QUESTION 14. Is the business income/ salary higher or lower than last year’s? a) Higher b) Lower c) Same Comments, if any _________________________ QUESTION 15. How long have you been with your current employer/ Firm? a) Less then 1 year b) 1-3 year c) 4- 6 years d) 7- 10 years &
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Volume 57 No. 06 December 2008 THE
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EDITORIAL BOARD EDITOR-IN-CHIEF CA.
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DECEMBER 2008 946 THE CHARTERED ACC
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own residential Centre of Excellenc
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READERS WRITE DECEMBER 2008 950 THE
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ICAI President CA. Ved Jain address
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956 DECEMBER 2008 THE CHARTERED ACC
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ACCOUNTING covered by forward excha
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profit and loss account and the bal
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consonance with the Standards presc
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When the power to make rules is lim
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A. Facts of the Case 1. A private l
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Now if we apply these probability c
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Residential Status DECEMBER 2008 98
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Page 37 and 38: DECEMBER 2008 988 THE CHARTERED ACC
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Page 59 and 60: forcing otherwise healthy banks to
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Page 71 and 72: e converted into a LLP by following
Page 75 and 76: y misrepresenting their earnings. I
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Page 101 and 102: Icai news NEW PUBLICATIONS From the
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Page 105 and 106: Icai news Requirements The student
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Legal or Regulatory Restrictions on
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strategies, and the related busines
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Entities A35. In the case of audits
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with governance is not adequate and
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in the preparation of financial sta
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asis but, in the auditor’s judgme
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further into the future, in conside
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Introduction 1. The purpose of this
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DECEMBER 2008 1110 THE CHARTERED AC
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Introduction 1. The purpose of this
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for which controls are being assess
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erised applications or over the ove
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