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​ICAI Campus Placement Programme – August, September & October, 2014

As one of the prominent accounting bodies worldwide, The Institute of Chartered Accountants of India (ICAI) has achieved recognition for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. The Institute has been playing a proactive role in formulation and implementation of technical standards on accounting.

Starting with a handful of about 1700 members, today, the strength of Chartered Accountant fraternity has grown to over 2.35 lakh members. On the education front, the ICAI began with mere 259 students and today more than 8.50 lakh active students are a part of ICAI.

The ICAI organizes Campus Placement Programmes for Newly Qualified Chartered Accountants twice in a year and is committed to provide world class placement services to the Members and best accounting and finance talents to the industry. Campus Placement Programme provides an opportunity to the employers to interact with newly qualified Chartered Accountants peruse their particulars and recruit the suitable candidate in their organizations. Candidates were given two chances to meet the recruiting organisations via opting for two centers, 1st at smaller center and 2nd (if the candidates have not been selected at smaller center) at bigger center.

CA.K.Raghu, President, ICAICA.K.Raghu, President, ICAI said “The placement programme provided an excellent opportunity for topline Indian companies to recruit the finest minds in the accountancy space. Chartered Accountants provide essential strategic guidance, expertise and consultancy across a vast array of business activities and sectors.”

The government is undertaking several initiatives in key sectors and financial inclusion is going to be a key growth area.  Accountancy is one of the most significant segments of the rapidly expanding economy. It is seen that the CAs are in great demand not only in the traditional sectors like banking, financial services or manufacturing but even in the new generation sectors like the IT, ITS, telecom, Risk and Assurance Services ,Infrastructure and Retail etc. Chartered Accountancy has emerged as a unique profession of considerable importance in view of the integrated globalized scenario.

Raghu added “Chartered Accountants today are technically equipped to act as management consultants and play a vital role in assisting business and industry to improve the use of their resources, increase their efficiency and achieve their objectives. The breadth of management advisory services rendered by CAs reflect their expertise in diverse areas.”

In view of the above, the future of the accountancy profession is going to be very promising in times to come. Accountants can indeed play a greater role in the economic development of the country.

In its endeavor to provide quality Accounting, Finance, Tax, Audit and Management Consultancy personnel to recruiting entities, the ICAI successfully organised one more round of Campus Placement Programme for Newly Qualified Chartered Accountants at 19 centres viz. Ahmedabad, Bangalore, Baroda, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Ernakulam, Hyderabad, Indore, Jaipur, Kolkata, Mumbai, Nagpur, Navi Mumbai, New Delhi, Pune, Thane & Vasai in August-September-October, 2014.

Summary of Campus Placement Programme-August, September & October, 2014

  • ​​952 Chartered Accountants accepted the Job offers.
  • The Highest salary offered for Domestic posting was Rs. 17 lacs Per Annum.
  • The Highest salary offered for International posting was Rs. 24 Lacs per annum.
  • The average CTC offered was approx Rs 7.28 Lacs Per Annum.
  • Organizations like Tata Consultancy Services Ltd., The Federal Bank Limited, ITC Limited, Barclays Shared Service Pvt. Ltd., ICICI Prudential Life Insurance Co. Ltd., Cairn India Ltd., Coca Cola India Inc., L&T, Marriot Hotel, Jindal Steel and Power Ltd. & Alghanim Ltd., Wipro Limited, Bharat Petroleum Corporation Limited, Genpact AIG, Bosch Limited, Reliance Industries Ltd., Engineers India Ltd., GAIL India Ltd., Indraprastha Gas Ltd. etc. and many more participated in the Campus Placement Program.
Salary Range (per annum) Number of Candidates
Rs. 9,00,000 and above 201
Rs. 7,50,000 to Rs. 9,00,000 135
Rs. 6,00,000 to Rs. 7,50,000 336
Rs. 5,00,000 to Rs. 6,00,000 246
Rs. 4,00,000 to Rs. 5,00,000 21
Rs. 3,00,000 to Rs. 4,00,000 13
Total 952

 

ICAI completes proceedings in Satyam case

As a part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of ICAI is working assiduously. Disciplinary Directorate of ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Accountants (Amendment) Act, 2006 and Rules framed there under.

CA.K.Raghu, President, ICAI said ” In the wake of Satyam scam, disciplinary action was initiated against the concerned Statutory Auditors including audit incharge(s), then CFO of the Company and Head of Internal Audit Department. After completion of enquiry against the aforesaid persons, the Disciplinary Committee having found them guilty of professional misconduct has awarded the maximum punishment of removal of their name(s) from the Register of Members permanently and also imposed a fine of Rs. 5 lakh each on them.

The Appellate Authority constituted under Section 22A of the Chartered Accountants (Amendments) Act, 2006 in all cases, except one case which is yet to be heard by the said Authority, has also upheld the decision of the Disciplinary Committee of ICAI.”

ICAI launches Flexi Working Portal for Women Members

Portal_for_Women_MembersIn this knowledge era, when gender doesn’t matter as much as talent and expertise do, more and more women turn into professionals and are proving their mettle by playing an important role in every sphere of business and industry nationally as well as internationally.  Indian accountancy profession is no exception to this phenomenon.

Today,  ICAI  can  boast  of  women comprising  21.1%  of  the  total  membership and girls students  comprise of 36%  share  of  active  students. As on date, there are approx 48,658 women members. It is indeed commendable that women accountants are consistently leaving their mark of excellence on corporate world while more and more young CA girl students are making it to merit list of CA examinations very frequently.

The immense  potential  that lies  embedded  in  these  encouraging  numbers  is still  vastly  untapped  and  needs  to  be  harnessed, strengthened   and   empowered   further   in   the interest  of  CA   profession,  our  society  and   nation. The Institute of Chartered Accountants of India (ICAI) believes that to tap the enormous potential of women professionals, there is a need to help them find flexible working conditions so that they can pro-actively contribute towards the growth of CA profession and also towards the economy at large, while simultaneously managing their commitments at domestic front.

CA. K Raghu, President ICAI, said ” Women are  skilled at multitasking, and they  tend  to  take  a  larger  share  of  responsibility wherever they are, including in our profession. As such, if we empower women, we actually empower ourselves. As the leader of the Indian accountancy profession, I am particularly alive to this cause.”

To provide the women members a medium through which they can explore suitable opportunities which provide part time jobs, jobs with flexi hours or jobs with work from home option, ICAI has recently  launched a ‘Flexi Working Portal for Women Members’. Besides providing  job opportunities, it will also have important announcements of ICAI, details of events, success stories and articles by women professionals, and feature a section on health tips. This portal will not only serve the interest of women members but will also enable CA Firms and industry to tap talent pool which might not be accessible otherwise in normal course.

To make effective use of this new initiative the members are required to post job requirement(s) having option to work part time or flexi hours on this portal (http://womenportal.icai.org/). This portal will serve the best interest of both the job seekers and employers.

CA. K Raghu, President ICAI, added, “Providing part time/ flexi hours option will be very cost effective to our practicing members specially SMPs who look for addition human resources during peak audit season like corporate audit, bank audit, tax audit etc.”

ICAI celebrated its 64th Annual Function on February 11, 2014

icaiICAI celebrated its 64th Annual Function on February 11, 2014 at New Delhi. The Institute of Chartered Accountants of India, being the premier accounting body in India, has always been making efforts for bringing an overall qualitative improvement in the financial reporting in India.

Welcoming the Guests and the audience  , Shri T.Kathikeyan¸ Secretary, ICAI said “The progress that the ICAI has made in its sagacious journey to be amongst the largest accounting institutions globally is laudable.”

Hon’ble Union Minister of Communications and Information Technology & Law and Justice, Shri Kapil Sibal was the Chief Guest on this occasion.

While addressing a gathering of over 1200 Chartered Accountants Shri Kapil Sibal said “The accounting profession has been a fulcrum of economic growth for the country since independence. The profession with its business and financial acumen, expertise, integrity and ability to reinvent with the changing time has earned the most coveted currency of all times Trust, the hall mark of the profession; of the business fraternity and society at large”

 He also stated “With the changing times, the profession must study the emerging trends and forces, so as to proactively lead the process of value creation while serving the larger public interest.”

CA. K Rahman Khan , Hon’ble Minister for Minority Affairs  said  that he was proud to be a CA and it is almost 50 years that he qualified as a Charted Accountant. He further added “The Indian accounting profession has a long and distinguished history of guarding the integrity of financial statements and supporting government”. He was confident that the profession will live up to the expectations of  stakeholders in times to come”

Addressing the function, President, ICAI , CA. Subodh Kumar Agrawal said ” We are not only regarded as the backbone of Indian financial system but also the conscience keepers of Indian economy.” He further added “I believe that our fundamental duty is to the public interest and our current and future activities must focus on achieving this goal.”​He  also thanked his Colleagues for making it possible to achieve almost all the targets which he had envisaged and highlighted the achievements of the Institute during the year.

While delivering the vote of thanks, CA.K. Raghu , Vice-President, ICAI said “The occasions like the annual function should make us introspect as to what we have achieved so far, the manner  in which we reached  this path and the way forward.”He further added, ” The profession would go all out to promote public interest and be at vanguard of promoting trust and confidence.”

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ICAI announced results of CA IPC Nov 2013 examination

IPC_2013_ToppersThe Institute of Chartered Accountants of India (ICAI) today announced the result of Chartered Accountants Intermediate (IPC) Examination held in November, 2013.

The top three rank holders on all India basis of Chartered Accountants Intermediate (IPC) Examination held in November, 2013 are from Lucknow, New Delhi, Surat & Amaravati.

The pass percentage statistics for IPC Nov 2013 is as below:

Examination Group No. of candidated appeared No. of candidates passed Pass Percentage
IPC Nov 2013 Both Groups 62033 5038 8.12 %
Group I 122253 23342 19.09%
Group II 117834 21076 17.89%

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ICAI announced the results of CA Final (Nov 2013) & CPT (Dec 2013)

CA Final ToppersThe Institute of Chartered Accountants of India (ICAI) today announced the following results of Chartered Accountants Final Examination held in November, 2013 and Common Proficiency Test (Paper Pencil Mode) held on December 15, 2013.

A total of 113553 candidates have appeared for the CPT held on 15 December, a total of 42706 have passed the test (37.61%). For the CA Final Examination the pass percentage for both groups is at a dismal 3.11%, for Group I the pass percentage is 5.67% and for Group II it is 7.35%.

Since December 1949, the Chartered Accountancy Examination is held twice in a year. The top three rank holders on all India basis of Chartered Accountants Final Examinations held in November, 2013 are from Akot (Maharashtra), Delhi & Kolkata.

The top three rank holders of Common Proficiency Test (Paper-Pencil Mode) held on December 15, 2013 are fromVijayawada, Hyderabad & Guntur.

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Mandate Accounting Standards To Educational Institutes – ICAI

Institute of Chartered Accountants of India (ICAI) has presented a report on accounting standards to HRD Minister. ICAI recommended the accounting standards to be made mandatory for educational institutions in India. The report has been brought out by a working group consisting of members from ICAI and those nominated by the Ministry of HRD for the purpose, namely CA. G. Ramaswamy, President, ICAI, CA. Jaydeep N. Shah, Vice-President, ICAI, CA. Amarjit Chopra, Chairman, Professional Development Committee and representatives from the school and university sector besides experts in accounting.

The objectives of the accounting standards prepared by the ICAI committee is as below:

(i) to define transparently the revenue earned through various sources – tuition fees and other charges, income from consultancy or from intellectual property owned by the institution (for higher educational institutions) etc;

(ii) to recognize segment reporting of accounts (each school under the same institution being considered as a separate segment for accounting purposes);

(iii) to recognize costs and revenue separately for UG and PG programmes and for research and teaching activities;

(iv) to define relevant financial ratios derived from accounts for inter se comparison on research to total expenditure, income from fees to total income, salary expenditure to total expenditure etc). These ratios could enable greater understanding of funding needs especially in respect of government funding.

(v) to identify if surpluses are being generated and the manner in which the surpluses are utilized or invested;

(vi) to disclose related party transactions;

The Ministry of Human Resource Development would be organizing consultations with higher educational institutions and schools on the recommendations of ICAI Committee.

The accounting standards would be made applicable to all Central Educational Institutions, universities under the regulatory ambit of UGC or receiving grants from UGC, technical institutions under regulatory ambit of AICTE, teacher education institutions under the regulatory ambit of NCTE and schools affiliated to CBSE.

The recommendations made by ICAI would also be placed before the State Education Ministers in the next meeting. The Ministry in coordination with ICAI shall organise capacity building programme to train the staff of educational institutions.

Source: Press Information Bureau

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CA Final & CPT Results Declared Today (18 January 2012)

The results of Common Proficiency Test (CPT) and Chartered Accountants Final (CA Final) results were declared today. To check the result access http://caresults.nic.in/ and enter the six digit roll number, the merit list has also been given on the same website. CA final examination was held in November 2011 and CPT was held in December 2011.

Participants from Hyderabad, Nagpur, Bangalore, Kolkata and Jaipur are among the toppers in CA final examination and applicants from Vijayawada & Jaipur are among the CPT toppers. (via)

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CA Final & CPT Results To Be Declared On 18 January 2012

The results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012 around 2:00 PM.

The results will be made available on http://www.caresults.nic.in; the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank in the case of Final Examination and candidates securing a minimum of 60% and above marks and upto the maximum of 10th Rank in the case of Common Proficiency Test) on all India basis will also be available on the same website.

CA Final or CPT Results in your Email

CA Final students & CPT students desirous of knowing their result on Email can register their request on http://www.caresults.nic.in from January 13, 2012.

CA Final or CPT Results as SMS

For CA Final

CAFNL(space)XXXXXX (Where XXXXXX is the six digit Final examination roll number of the candidate) and send to 58888

For CPT

CACPT(Space)XXXXXX (Where XXXXXX is the six digit Common Proficiency Test roll number of the candidate) and send to 58888

Note: The same code can be used by Dolphin or Trump Users; but the request has to be sent to 52001.

Source: ICAI Website

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ICAI Inks MoU With Association of International Accountants (AIA)

The Institute of Chartered Accountants of India (ICAI) and The Association of International Accountants (AIA) have signed a Memorandum of Understanding for a reciprocal membership arrangement. This is the fifth qualification recognition arrangement entered by ICAI.

The purpose of the MOU is to promote co-operation between the two institutes, to express their good relationship, and to encourage the development of the global accountancy profession.

The MOU allows appropriately qualified and experienced members of both the AIA and ICAI to join the other institute, by recognising their existing accountancy qualification.

This MOU was signed by AIA President, Andrew Lamb, AIA Council Member, Mahender Khari and ICAI President, G Ramaswamy, in Chennai, India on 7 January 2012.

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