#Carted accounted code#
#Carted accounted professional#

Later on, the issue of restricted certificates was discontinued in the year 1920. This certificate entitling the holder to practice as an auditor throughout India. On passing this diploma and completion of three years of articled training under an approved accountant, a person was held eligible for grant of an unrestricted certificate. In 1918 a course called Government Diploma in Accountancy was launched in Sydenham College of Commerce and Economics of Bombay (now known as Mumbai). The holder of a restricted certificate was allowed to practice only within the province of an issue and in the language specified in the restricted certificate. In order to act as an auditor, a person had to acquire a restricted certificate from the local government upon such conditions as may be prescribed. It also required the appointment of a formal Auditor with prescribed qualifications to audit such records. The Companies Act, 1913 passed in pre-independent India prescribed various books which had to be maintained by a Company registered under that Act. Government Diploma in Accountancy Certificate It prescribes the qualifications for a Chartered Accountant, conducts the requisite examinations and grants Certificate of Practice.

#Carted accounted professional#

ICAI is the second largest professional accounting body in the world in terms of number of membership and number of students after the AICPA. The Institute of Chartered Accountants of India was established under the Chartered Accountants Act, 1949 passed by the Parliament of India with the objective of regulating the accountancy profession in India. Now, eXtensible Business Reporting Language (XBRL) India is an established jurisdiction of XBRL International Inc. In 2010, it promoted eXtensible Business Reporting Language (XBRL) India as a section 8 Company to take over this responsibility from it. ICAI was formerly the provisional jurisdiction for XBRL International in India. ICAI is one of the founder members of the International Federation of Accountants (IFAC), South Asian Federation of Accountants (SAFA), and Confederation of Asian and Pacific Accountants (CAPA).

ICAI has entered into mutual recognition agreements with other professional accounting bodies worldwide for reciprocal membership recognition. The professional membership organization is known for its non-profit service. A person can become a member of ICAI and become a financial (i.e. The management of the institute is vested with its council with the president acting as its Chief Executive Authority. Only a member of ICAI can be appointed as statutory auditor of a company under the Companies Act, 2013.

#Carted accounted code#

ICAI Chartered Accountants are subject to a published Code of Ethics and professional standards, violation of which is subject to disciplinary action. However, the word chartered does not refer to or flow from any Royal Charter. Members of the Institute are known as ICAI Chartered Accountants or ICAI Accountants (either Fellow or Associate). The other reputed accounting research bodies in India are the Institute of Cost Accountants of India ( ICMAI) and University of Delhi, University of Calicut and University of Mumbai. In India, accounting standards and auditing standards are recommended by the National Financial Reporting Authority (NFRA) to the Government of India which sets the Standards on Auditing (SAs) to be followed in the audit of financial statements in India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament for promotion, development and regulation of the profession of Chartered Accountancy in India. The Institute of Chartered Accountants of India ( ICAI) is the World's second largest professional accounting body and largest professional accounting body of India under the ownership of Ministry of Corporate Affairs, Government of India. Ministry of Corporate Affairs, Government of India