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Wednesday, August 01, 2001

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ICAI council meet on `discontinuing operations'

K.R. Srivats

NEW DELHI, July 31

THE Central Council of the Institute of Chartered Accountants of India (ICAI) will meet here from August 1-3 to deliberate on the proposed accounting standard (AS) on `discontinuing operations.'

According to the ICAI President, Mr N.D. Gupta, the council will also take up for consideration the proposed limited revision to AS-5 -- net profit or loss for the period, prior period items and changes in accounting policies.

Mr Gupta told Business Line that the council is also expected to finalise a new curriculum and an examination system for aspirants of the Chartered Accountancy profession.

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