The Institute of Chartered Accountants of India ( ICAI ) President CA (Dr.) Debashish Mitra said that, ICAI New Education Scheme and Training would develop Global Chartered Accountants with High Level of Professional Skills.
The Council, after deliberating at length on the suggestions received from stakeholders, approved the Proposed Scheme of Education and Training with certain modifications. The Scheme so approved by the Council has been submitted to the Ministry of Corporate Affairs, along with the corresponding amendments in Regulations for final approval.
With active participation of a range of stakeholders and deliberations at meetings of Board of Studies and the Council, we are sure that the resultant outcome, namely, the New Scheme of Education and Training with its value added features, would develop global Chartered Accountants with high level of professional skills and ethical values.
He also said that, The O/o C&AG is in the process of revising the empanelment norms of CA Firms and Criteria for Allotment of Audit. The proposed norms as received from the O/o CAG were discussed threadbare and a series of meetings were held at the Institute.
Based on the deliberations, ICAI submitted its suggestions to C&AG at a meeting of “Audit Board for Central Public Sector Undertakings’’ organized by the O/o C&AG on 6th September 2022 wherein the various regulatory counterparts were present. Shri Girish Chandra Murmu addressed the inaugural session. Various issues related to Revision of Policy for empanelment of Chartered Accountant firms by Office of the C&AG for allotment of audit and need for enhancement of Audit fee/ remuneration of statutory auditors were discussed. It was proposed by the O/o C&AG that additional qualitative parameters should be introduced as part of Allotment Criteria.
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