[CA Debayan Patra] Professional Updates

Committee for Members in Industry & Business of ICAI invites Nominations for 15th ICAI Awards Visit https://nominationforms.icai.org/ to file nominations or visit https://awards.icai.org/ for more details like eligibility criteria, general guidelines etc. Brochure: https://awards.icai.org/wp-content/uploads/2021/09/15thicaiawards-ls2022.pdf Regards, CA Debayan Patra

1. We urgently require 2 nos of Qualified CA's in our firm having post qualification experience of 3- 4years in statutory and internal audit. Should possess good knowledge of Ind AS and preferably worked on SAP 2. Require 2 nos semi qualified/ graduate having experience in field of audit of manufacturing companies for more than 4 years. Gaurav More Contact no-9836627993 Email CV @ gauravmore1@yahoo.com

UDIN extended to 60 days ICAI Council has decided that UDIN can be generated within 60 days (in place if 15 days). This is also in view of SQC and SA. Detailed Notification will be hosted soon. Regards, CA Debayan Patra

Peer Review Following are the publications of the Peer Review Board of ICAI which will give you detailed idea about Peer Review: 1. Statement of Peer Review (Revised 2021): https://resource.cdn.icai.org/66121prb53372.pdf 2. Peer Review Manual (Revised 2020): https://resource.cdn.icai.org/60103prb48957peer-review-manual.pdf 3. Handbook on Advisories (Revised 2020): https://resource.cdn.icai.org/60105prb48957handbook-advisories.pdf Regards, CA Debayan Patra ________________________ Note: The main objective of Peer Review is to ensure that in carrying out the assurance service assignments, the members of the Institute (a) comply with Technical, Professional and Ethical Standards as applicable including other regulatory requirements thereto and (b) have in place proper systems including documentation thereof, to amply demonstrate the quality of the assurance services. Thus Peer Review is meant for the purpose of enhancing quality of professional work, transparency in technical standards used, world class procedures and techniques resulting into more reliable and useful audit and reports and it has no relationship whatsoever with any disciplinary or any other regulatory mechanism. The review begins with the assumption that professionals discharge their responsibilities properly and the aim of review is to enhance those attributes of professionalism that serve to keep the profession of chartered accountancy in India in the forefront of the accounting and auditing profession in the world. Peer Review Board was established by the Council of the Institute of Chartered Accountants of India in terms of the Statement on Peer Review, to conduct peer review.

GUIDANCE NOTE DIVISION II - IND AS SCHEDULE III TO THE COMPANIES ACT 2013 Link: https://resource.cdn.icai.org/45991clcgc36214.pdf Regards, CA Debayan Patra

Sharing as received

Sharing as received: Required two CA finalists immediately for a CA firm in Dalhousie area for Audit and Taxation. Compensation commensurate to experience and exposure. Mail cv at sjaykishanbranch@yahoo.co.in

Disclosures Checklist for Ind AS Link: https://resource.cdn.icai.org/58287asb47542ias.pdf Regards, CA Debayan Patra

GUIDANCE NOTE DIVISION I - NON IND AS SCHEDULE III TO THE COMPANIES ACT 2013 _Last Edition - July, 2019_ Link: https://resource.cdn.icai.org/55730clcgc45064a.pdf Regards, CA Debayan Patra

Sharing as received Required CA with 1-3 year experience for a CA Firm based in New Alipur. Mail resume in apply@chunderkhator.com or call CA Kartikeyan 9830547380

Accounting Standards (AS): Disclosure Checklist as revised in February, 2020 by ASB, ICAI: https://resource.cdn.icai.org/58286asb47542as.pdf Regards, CA Debayan Patra

Income Tax Extension Refer: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1753603&RegID=3&LID=1 Regards, CA Debayan Patra _________________________ The details are as under: 1. ITR: 31st July, 2021 as extended to 30th September, is further extended to 31st December, 2021 2. Tax Audit: 30th September, 2021, as extended to 31st October, 2021 is further extended to 15th January, 2022; 3. Transfer Pricing Report: 31st October, 2021, as extended to 30th November, 2021 is extended to 31st January, 2022; 4. ITR: 31st October, 2021 as extended to 30th November, 2021 is further extended to 15th February, 2022; 5. ITR: 30th November, 2021 as extended to 31st December, 2021 is further extended to 28th February, 2022; 6. Belated/Revised ITR: 31st December, 2021 as extended to 31st January, 2022 is further extended to 31st March, 2022; Interest under Sec 234A applicable where tax more than Rs.1 Lakh

Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 Link: https://resource.cdn.icai.org/41241research31047.pdf Regards, CA Debayan Patra

Note: Clause 30C and 44 of the Tax Audit Form has been deferred again vide Circular No. 05/2021 dated March 25, 2021 and are not applicable even for A.Y. 21-22. Regards CA Debayan Patra

Booklet on Provisions relating to Director Simplicitor/ Independent Director vis-à-vis Members in practice: http://esb.icai.org/wp-content/uploads/2021/02/Ethical-Standards-Board-Book.pdf Regards, CA Debayan Patra

_Your daily dose of Ethics in one book_ The following is the link to the latest 'FAQs on Ethical Issues' issued by the Ethical Standards Board of ICAI in Feb, 2021:  http://esb.icai.org/wp-content/uploads/2021/02/41-2_FAQ-on-Ethical-Issues_Book.pdf The book contains answers to more than 200 FAQs. Regards, CA Debayan Patra

The link to the Volume-I and Volume-II of the Revised Code of Ethics are as follows: Volume I - https://resource.cdn.icai.org/55133CodeofEthics-2019.pdf Volume II - http://esb.icai.org/wp-content/uploads/2020/07/Code-of-Ethics-Volume-II-6.7.2020.pdf Regards, CA Debayan Patra

This is Volume III of the Code of Ethics which contains Case Laws. Infact when the Code of Ethics was amended more than a year back, ICAI decided to add this Volume. Regards, CA Debayan Patra