Updates

• Securities and Exchange Board of India (SEBI) invites applications from qualified Cost Accountants for the post of Young Professional (Securities Market Operations). The application form shall be open for 21 days from the date of publication of the advertisement.New
• Securities and Exchange Board of India (SEBI) invites applications from qualified Cost Accountants for the post of Young Professional (Securities Market Operations). The application form shall be open for 21 days from the date of publication of the advertisement. New
• Guidance Note on Environmental Costing . New
• Glimpse of National CMA Practitioners' Convention (NCPC 2025) on 28th 29th March 2025 at Varanasi Uttar Pradesh. New
• Securities and Exchange Board of India (SEBI) vide notification dated 16th December, 2024 considered the member of the Institute of Cost Accountants of India as a Compliance Officer in Regulation 20(1) of the Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2024 New
• National Financial Reporting Authority (NFRA) invites applications from qualified Cost Accountants for the post of Young Professional. The last date for submission of the application is January 10, 2025. New
• Multipurpose Empanelment Scheme (MES) New
• SEBI provides exemption to the CMAs from seeking registration as Investment Advisers with SEBI New
• On the Institute's representation, the Maharashtra Mantralaya & Allied Offices Co-Operative Bank Ltd. invited applications from the Cost Accountants in their advertisement notice for recruitment of Assistant Manager (Audit). Last date of submission of application is 29.10.2024. New
• The Professional Development & CPE Directorate of the Institute is organising online preparatory classes to assist the eligible CMA Candidates for the UPSC Recruitment Test for the recruitment of Assistant Director (Cost).
• With the efforts of the Professional Development Directorate of the Institute, Jammu & Kashmir (J&K) Bank Limited authorized Cost Accountants to carry out certification work of banks and issued Circular to all the Branches/ Offices of J&K Bank for its strict compliance vide its Circular no. JKB/CHQ/CCB/2024/ 285 dated September 11, 2024.
• Cost data format for the New Reasonability guidelines dated 18.01.2024 by the Ministry of Chemicals & Fertilizers.
• Inviting Comments on E-Consultation by MCA on the Government Report on Cost Accounting Records & Cost Audit 2024. Last date of submitting suggestions/comments is 28th July 2024
• Central Board of Indirect Taxes and Customs vide its Circular No. 226/20/2024-GST Dated the 11th July, 2024 authorized Cost Accountants for Certifying the additional foreign exchange remittance on account of upward revision in price of the goods subsequent to export under para 6 (g) of the Circular.
• Expression of Interest for Empanelment of Cost Accountant Firms For Conducting Internal Audit of Two Regional Councils (WIRC & NIRC) And Three Chapters (Hyderabad, Bangalore and Jaipur) of The Institute Of Cost Accountants of India. Last Date of Submission of EOI is upto 3 P.M. on 14th July 2024.
• On the Institute's representation, National Industrial Corridor Development Corporation Limited considered Cost Accountants (CMAs) for the recruitment to the post of Senior Executive (Finance & Accounts). The last date for submission of the application is 3rd July 2024. Corrigendum
• "Securities and Exchange Board of India (SEBI) invites applications from qualified Cost Accountants for the post of Officer Grade A (Assistant Manager). The last date for submission of the application is June 30, 2024."
• Vide circular no. SEBI/HO/CFD/PoD/CIR/2024/0060 dated May 27, 2024 there is an amendment in terms of Regulation 292A(f) of the Security and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, wherein ICMAI Social Auditors Organisation (ICMAI SAO) is specified as a Self Regulatory Organisation for Social Impact Assessors in the context of Social Stock Exchange.
• On the Institute's representation, IITI DRISHTI CPS Foundation considered Cost Accountants (CMAs) for the recruitment to the post of Finance Manager (Sr. and Jr.). Corrigendum
• Advisory for the Members on the Unit of Measure (UOM) for compilation of Annexures to the Cost Audit Report
• On the Institute's representation, The Indo-U.S. Science and Technology Forum (IUSSTF) considered Cost Accountants (CMAs) for the recruitment to the post of Head (Finance & Administration). The last date for submission of the application is April 15th, 2024 till 6:00 pm. For more information, please visit:
• National Pension System Trust (NPS Trust) inviting applications from Cost Accountants for appointment as Chief Executive Officer (CEO). The last date for submission of applications is 04 April 2024 (Thursday)." Vacancy_Notice
• On the Institute's representation, Kerala State Beverages (M&M) Corporation Limited considered Cost Accountants (CMAs) for the Certification of Cost Sheet."
• On the Institute's representation, National Land Monetization Corporation Limited (NLMC) considered Cost Accountants (CMAs) for the recruitment of manpower in allied areas. Last date of submission of application is 31.10.2023 till office hours." Vacancy_Notice
• Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry authorizes Cost Accountants for certification in its Corrigendum dated October 9, 2023 to the Guidelines dated June 4, 2021, for the Production Linked Incentive (PLI) Scheme for promoting domestic manufacturing of White Goods (Air conditioners and LED Lights).
• The Council of the Institutes notifies the Mandatory Communication to the Previous Cost Auditor alongwith the consequences of the non-compliance
• Ministry of Finance vide its Notification dated 03rd May, 2023 considered the Practicing Cost Accountants as 'relevant Person' under section 2 (1) of the Prevention of Money-laundering Act, 2002.
• Indira Gandhi National Open University (IGNOU) approved the Credit transfer in BCOMG/BCOMOL/MCOM/MCOMOL/MBA/MBAOL/MBAFM/MBAHR/MBAOM/MBAMM/MBF programme of IGNOU against the ICWA/CMA courses passed from Institute of Cost Accountants of India.
• Budget 2023 proposes valuation of inventory by a cost accountant
• The Council of the Institutes notifies the amendment to the Guidelines for Compliance by the Members of the Institute alongwith the consequences of the non-compliance.
• The Council of the Institutes notifies the Format of Communication to the Previous Cost Auditor alongwith the consequences of the non-compliance.
• Gazette Notification regarding Guidelines for Compliance by Members of the Institute on Responding to any Tender
• Security Exchange Board of India considered the practicing Cost Accountants to carry out share reconciliation audit of issuer companies under the Regulation 76(1) of SEBI (D&P) Regulations, 2018. Read More
• On Institute's representation, Income Tax Department considered Cost Accountant Firms as an authorized professionals for E-Return Intermediaries to electronically file Income Tax returns under the electronic Furnishing of Return of Income Scheme, 2007 at NSDL website.
  e-Return Intermediary    Instructions for Filing Form
• On the Institute's representation, National Aids Control Organisation (NACO) has sent a letter to all project Directors of all State/UT Aids Control Societies for taking appropriate action regarding conducting of Internal Audit/Concurrent Audit by the Cost Accountants.
• Impact of COVID-19 and lockdown on Micro, Small & Medium Enterprises.
• Institute of Actuaries of India - Relaxation on Admission Criteria for the Members of the Institute of Cost Accountants of India.
• Notice Inviting Comments/ Suggestions on Draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020.
• Letter from the Office of Commissioner for Co-operation and Registrar Cooperative Societies, Pune:- regarding Matter of Exception reporting by External( Statutory) Auditor of Schedule Urban Co-operative Banks
• Letter received from Commissioner, Income Tax (ADMN & TPS) Kolkata - Interaction with Taxpayer regarding redressal of Grievances
• CMA Empanelment of Resource Person for PD CPD Activities.
• Mandatory Capacity Building Training (MCBT), Six Days Training for New Members in Practice for Practicing Cost Accountants who have obtained Certificate of Practice (COP) w.e.f. 1st February 2019 and prospective.
• On Institute's representation RBI included Cost Accountants for Certifying "Agency Commission Furnishing Reconciliation Certificate.
• UDIN Portal for Practising Members.
• Directorate General of Foreign Trade ( DGFT ) has issued a Public Notice 06/2015-2020 dated 07th May, 2019 to amend Form ANF-3B for claiming Services Exports from India Scheme (SEIS) benefits under Foreign Trade Policy 2015-2020.
• On the Institute's representation, Department of Commerce, Ministry of Commerce and Industry vide notification dated 7.3.2019 issued Special Economic Zones (2nd Amendment) Rules, 2019 and consider Cost Accountants at par with Chartered Accountants for certification of Form-I Annual Performance Report for Units under Rule 22 of Special Economic Zones Rules, 2006.
• Suggested Revised Minimum Recommended Scale of Fee for the Professional Assignment by Cost Accountants
• On the Institute's representation , Bureau of Indian Standards included Cost Accountants for the purpose of authentication of production statement in the Guidelines for Renewal of Licence (RoL) as per the conformity assessment Scheme – I of Schedule – II of BIS (Conformity Assessment) Regulations, 2018
• SEBI in its circular no. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 dated April 20, 2018 on “Strengthening the Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue” included Cost and Management Accountants to carry out internal audit on annual basis of Registrars to an Issue / Share Transfer Agents (RTAs).
• Relaxing of five year period for applying for Prior learning qualification of Insurance Institute of India to Cost Accountants
• Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017
• Ministry of Commerce and Industry, Department of Industrial Policy and Promotion included Cost Accountants for providing certificate for verification of Local content in case of procurement for a value in excess of Rs. 10 Crores.
• e-Mudhra included the Cost Accountants to join as a Partner for issuing e-Mudhra Digital Certificates.
• Capacity building of CMA Professionals
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