CPE BULLETIN CPE BULLETIN
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CPE BULLETIN CPE BULLETIN
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.