The CA institute favours a regime where depreciation rates for company law purposes are based on the useful life of an asset.

The depreciation rates should also be indicative and not prescriptive as is the case now, Mr Amarjit Chopra, President of Institute of Chartered Accountants of India (ICAI), has said.

The ICAI, working under the aegis of the Ministry of Corporate Affairs, organizes campus placement programme for the benefit of newly qualified Chartered Accountants twice every year.

The first phase of the programme is going on these days at 5 cities namely Bangalore, Chennai, Kolkata, Mumbai and New Delhi. It will continue till 10th March, 2010.

Revision Test Papers for May, 2010 examination have been uploaded on the website for the following Courses:

Professional Education (Course-II), Professional Competence Course, Integrated Professional Competence Course, Accounting Technician Course, Final (Old) course, Final (new) Course, 

Creating a record in its placement history, the Institute of Chartered Accountants of India (ICAI) has placed three of its candidates at a record salary of close to Rs 70 lakh with Singapore-based Olam International.

This is the highest ever salary offered to fresh CAs recruited from the ICAI campus, the apex body that conducts the CA examination and places the successful candidates every year. Earlier, a record salary of Rs 38.25 lakh was offered in 2007.

In this financially globalised volatile times, bank’s treasury groups which are ultimately responsible for keeping their banks in business are witnessing tremendous changes.

Successful treasury management is extremely important for strong, viable and profitable existence of banks. Keeping this in view, the Internal Audit Standards Board of ICAI has issued Technical Guide on Internal Audit of Treasury Function in Banks.

This is to bring to your kind notice that the Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India has decided to continue with the 2009 edition of the Guidance Note on Audit of Banks for the financial year ended March 31, 2010.

Chinese philosopher Confucius had once said, ‘The journey of a thousand miles begins with a single step.’ As I take this first step as 58th President of the second largest accountancy body of the world, I wish to thank all those who have supported and guided me to reach this position today. I thank the members of both 20th as well as 21st Council for reposing trust and confidence in me by electing me as the Vice-President and then as the President of the ICAI during 2009-10 and 2010-11 respectively.

Student who desires to register for CPC and become eligible for appearing in the ensuing Common Proficiency Test to be held on 20th June, 2010 are hereby advised to have the CPT registration application done.

Application Form for Registration to CPT Course and duly filled in CPT registration application form to be submitted along with the documents for maintaining physical record at the Institute’s Regional Office.

Students who have been registered for the erstwhile Intermediate under paragraph 2 or 2 A of schedule B to the Chartered Accountants Regulations 28 or who have been registered for the erstwhile Professional Education (Course-II) or who have been registered for the PCC are eligible for conversion to IPCC by paying the prescribed conversion fee along with the conversion application form to the concerned Regional Office on or before March 5, 2010 for becoming eligible to appear in the May, 2010 examination.

Owing to delay in making available Application Forms for May-2010 Chartered Accountants Examinations at some branches / Regional offices, the Competent Authority has decided to extend the last date for receipt of filled in Examination Forms till 5th March,2010. Further to this, this is also to reiterate that no filled in examination form will be received after 5th March, 2010.