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ICAI told to give fresh plans on changes to Act

K.R. Srivats

NEW DELHI, May 1

THE Centre has written to the Institute of Chartered Accountants of India (ICAI) seeking fresh proposals for amendments to the Chartered Accountants Act in the context of the changing environment and new regulatory requirements.

"The institute has now been asked to submit fresh proposals or recommendations within a particular time period after factoring in various developments in the last one decade. This would imply that the ball is now back in ICAI's court on this matter," sources said.

The ICAI had in 1994 submitted a host of recommendations on amendments to the Chartered Accountants Act for the consideration of the Government.

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