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CPE
April - June, Edition 14/2015
April - June, Edition 14/2015
BULLETIN
E-Newsletter of the Continuing Professional Education Committee
The Institute of Chartered Accountants of India
(Set up by an act of Parliament)
Editorial Board
President in Office
CA. Manoj Fadnis, FCA
Vice-President in Office
CA. Devaraja Reddy M., FCA
Chairman
CA. Babu Abraham Kallivayalil, FCA
Vice-Chairman
CA. Mukesh Singh Kushwah, FCA
Members
CA. Manoj Fadnis, President (Ex-Officio)
CA. Devaraja Reddy M., Vice-President
(Ex-Officio)
CA. Tarun Jamnadas Ghia
CA. Nihar N. Jambusaria
CA. Dhinal Ashvinbhai Shah
CA. V. Murali
CA. S. Santhanakrishnan
CA. Sumantra Guha
CA. Shyam Lal Agarwal
CA. Sanjay Agarwal
CA. Naveen N.D. Gupta
CA. Vijay Kumar Gupta
Shri Manoj Kumar
Co-opted Members
CA. Parek Agarwal
CA.Madhu Sudhan Goyal
CA. Pankaj Tyagee
CA. Narasimham VVV L
CA. Brijmohan Agarwal
Contents
* Messages
* CPE Hours Requirements for The Block
Period of 3 Years (1-1-2014 To 31-12-2016)
* Action Plan of the CPE Committee for the
year 2015-16
* CPE Calendar 2015-16
* CPE National Live Webcasts
* Composition of the CPE Regional
Monitoring Committees for the year
2015-16
* Forthcoming CPE Programmes Being
Organized by The Pous for The First
Quarter i.e., April – June 2015
Message of the President, ICAI
Dear Professional Colleagues,
“True knowledge exists in knowing that you know nothing” said Socrates,
ancient Greek philosopher. Our life is not enough to assimilate all the
knowledge available around us.
This is also applicable for chartered accountancy professionals who are
rendering knowledge and skill based services. Read More….
Message of the Vice President, ICAI
Dear Professional Colleagues,
To begin with, it is indeed a great honor to serve as the Vice-President of the
Institute of Chartered Accountants of India. I pray to the Almighty to give
me strength and wisdom to come upto the expectations of our profession
and take the legacy a leap forward.
Read More….
Message of the Chairman, CPEC
Dear Professional Colleagues,
A savant once said “What I believe about life, determines how I perceive
life, which determines what I receive from life.” Perception defines our
words and actions which results in the outcome. H.G. Wells had opined
that “Wealth, place and power are no measures of success. The only true
measures of success is the ration between what we might have been and we
have become.”
Read More….
Message of the Vice Chairman, CPEC
Dear Professional Colleagues,
The profession of Chartered Accountancy is growing leaps and bounds and
its phenomenal growth has brought the profession at the forefront. Today
our profession has acquired an indispensible position in the business and
economy.
Read More….
For Suggestions
Your suggestions for improvement are most
welcome. Send your comments for e-newsletter
at [email protected]
Disclaimer
Material in this e-publication may not be reproduced, whether in part or in whole, without the consent of the ICAI.
April - June, Edition 14/2015
CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS
(1-1-2014 TO 31-12-2016) TO BE COMPLIED WITH BY DIFFERENT
CATEGORIES OF MEMBERS
A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those
members who are residing abroad) are required to: a)
b)
c)
Complete at least 90 CPE credit hours in a rolling period of three-years.
Complete minimum 20 CPE credit hours of structured learning in each calendar year.
Out of the 90 CPE Credit Hours as mentioned above, 30 CPE credit hours can be completed either
through Structured or Unstructured learning (as per Member’s choice).
B. All the members (aged less than 60 years) who are not holding Certificate of Practice and all the
members who are residing abroad (whether holding Certificate of Practice or not) are required to:
a)
b)
Complete at least 45 CPE credit hours either structured or unstructured learning (as per Member’s
choice) in rolling period of three-years
Complete minimum 10 CPE credit hours of either structured or unstructured learning (as per member’s
choice) in each calendar year.
Read More….
ACTION PLAN OF THE CPE COMMITTEE FOR THE YEAR 2015-16
The Committee finalized the following Action Plan for the year 2015-16 in line with the Action Plan 2015-16 of
the Institute :1.
2.
Revision in the CPE Statement based on the International Best Practices being followed currently in various
countries and bodies like The International Federation of Accountants (IFAC),The Institute of Chartered
Accountants in England and Wales (ICAEW), American Institute of Certified Public Accountants (AICPA),
The Institute of Chartered Accountants in Australia, The Institute of Certified Public Accountants in Ireland
(CPA Ireland), International Institute of Certified Public Accountants(IICPA), Institute of Internal Auditors
(IIA), etc.
Holding of two CPE National Live Webcasts every month. The DVDS of all the LIVE Webcast would be
prepared and sent to all POUs.
Read More….
CPE CALENDAR 2015-16
OBLIGATORY TOPICS
Accounting and Auditing
7.
1.
Accounting Standards issued by ICAI
2.
Ind ASs
3. Accounting Standards with Sector-wise /
Industry-wise practical presentations
Audit Committee Charter
4.
5.
Quality Standards issued by ICAI
8.
6.
Implementing the Accounting Standards in
various Sectors/Industries (Banking Sector,
Real Estate Sector, Insurance Industry etc.):
Technical & Managerial Issues
Implementation issues in Auditing Standards,
Expectations, and compliance requirements in
general in various sectors/Industries (Banking
Sector, Real Estate Sector, Insurance Industry
etc.)
Issues in Audit of PSUs
Read More….
April - June, Edition 14/2015
CPE NATIONAL LIVE WEBCASTS
Organized:
1. 3rd March, 2015 on the topic “Union Budget, 2015”
2. 11th March, 2015 on the topic “Bank Audit”
3. 30th March, 2015 on the topic “Bank Audit”
The above have been hosted at www.icaitv.com
DVDs are also available @Rs. 50/- per DVD. For
procuring the same, a request be made to CPE
Committee Secretariat (ICAI Bhawan, Research
Block, 1st Floor, A-29, Sector – 62, NOIDA – 201309)
alongwith a Cheque/DD of Rs. 50/- per DVD.
CA. Babu Abraham Kallivayalil, Chairman, CPE Committee along with CA.
Mukesh Singh Kushwah, Vice Chairman, CPE Committee and faculties CA.
Nihar N Jambusaria, Chairman, International Taxation Committee of ICAI,
CA. Sushil Solanki, Principal Commissioner of Service Tax, Mumbai and CA.
T. Banusekar at the CPE National Live Webcast (03.03.2015) held at Mumbai
on the topic “Union Budget 2015”.
Forthcoming
1. 17th April, 2015 on the topic “Companies Act
2013”
2. 23rd April, 2015 on the topic “Foreign Contribution
Regulation Act (FCRA)
3. 27th April, 2015 on the topic “Implications of
Computation and Disclosure Standards (ICDS) –
Direct Tax Laws”
4. 12th May, 2015 on the topic “Finance Act 2015”
CA. Babu Abraham Kallivayalil, Chairman, CPE Committee
along with faculties CA. Shriniwas Joshi, Central Council Member, ICAI, CA. C. V. Sajan and CA. Sathyanarayanan V. at the CPE
National Live Webcast (11.03.2015) held at New Delhi on the topic
“Bank Audit”.
Further details of the forthcoming webcasts are
being hosted from time to time at ICAI website
(www.icai.org) and also communicated by mass
mail / SMS to all members. Please visit the
website regularly.
CA. Babu Abraham Kallivayalil, Chairman, CPE Committee along with CA.
Manoj Fadnis, President, ICAI and CA. Mukesh Singh Kushwah, Vice Chairman,
CPE Committee and faculties CA. Amarjit Chopra, Past President, ICAI &
Chairman, NACAS, and CA. Shyam Ramadhyani at the CPE National Live Webcast
(30.03.2015) held at New Delhi on the topic “Bank Audit”.
April - June, Edition 14/2015
COMPOSITION OF THE CPE REGIONAL MONITORING COMMITTEES FOR
THE YEAR 2015-16
Every year, the CPE Committee re-constitutes CPE Regional Monitoring Committees to carry out the tasks as
per Terms of Reference mentioned in the Office Note below.
The CPE Committee at its 297th meeting held on 3rd April, 2014 has approved the following composition of the
RMC :I.
II.
III.
IV.
V.
VI.
VII.
Chairman or Vice-Chairman of the Central CPE Committee or any other person nominated by the
Chairman
Member of the Central CPEC from the concerned Region
Member of the Central Council from the concerned Region
Regional Chairman
Chairman, Regional CPE Committee
Non-executive member / Non-Office bearer from the concerned Regional Council
The Secretary to the Regional Monitoring Committee would be the Head of Decentralized Office.
According to the above composition, the Chairman, CPE Committee has re-constituted the CPE RMCs
for the year 2015-16 for all the 5 Regions.
Read More…
Terms of Reference
I.
Review of monthly reporting to the Central Office including uploading of Programme details and the
attendance on the CPE Portal by the various CPE POUs
II. To address the issues raised/problems faced by the Regional Councils/Branches/CPE Chapters/CPE
Study Circles and CPE Study Groups
III. Review of the functioning of CPE Chapters/ CPE Study Circles
IV. Issues arising out of implementation of the policy framework of the Institute
V. To address the problems being faced by the Central Office vis-à-vis CPE POUs
VI. Nomination of monitors and supervisors for all CPE POUs.
VII. To obtain feedback for the programmes organized by POUs on test check basis and to compile the suggestions of the members. Such compilation may be sent to the CPEC Secretariat.
VIII. To submit the quarterly report on the functioning of the POUs
IX. To ensure that the feedback form for each programme must be obtained from the participants and to
submit the compilation of feedback to the CPEC Secretariat.
FORTHCOMING CPE PROGRAMMES BEING ORGANIZED BY THE POUS FOR THE FIRST
QUARTER I.E., APRIL – JUNE 2015
Continuing Professional Education Committee
The Institute of Chartered Accountants of India
ICAI Bhawan, A-29, Sector-62, Noida, Uttar Pradesh - 201 309.