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July 2012

ICAI News

By P. N. Shah, H. N. Motiwalla,Chartered Accountants
Reading Time 2 mins
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(i) In CA students Journal for June, 2012 (Page 19) the following announcement by ICAI is published.

 “All members of ICAI are hereby informed that the Council of ICAI has prescribed Regulation 47 of the CA Regulations which reads as ‘No amount shall be charged from, or payable by, an article assistant or any other person on his behalf, directly or indirectly, whether by way of premium or as loan or deposit or in any other form in connection with his engagement as an article assistant’.”

 “In view of the above, charging of premium form article assistants is misconduct under the provision of clause (1) of Part II of the Second Schedule to the C.A. Act and punishable u/s. 21B(3) of the C.A. Act.”

(ii) In CA students Journal for June, 2012 (page 19) the following announcement is published. “It has been decided to henceforth (w.e.f. 23-5-2012) charge a sum of Rs.500 per person as the education verification fee from the companies/agencies seeking such verification of qualification. The fee shall be payable by D.D. in favour of the Secretary, ICAI, payable at New Delhi.”

 It is clarified that this fee is not payable by the Central/State Government, PSUs, Concerned Member/Student.

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