Attention: Intermediate (IPC) and Final Course students
Non-applicability of Companies Act, 2013 for May 2014, Examinations
This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (with partial enforcement of only 98 sections of the Companies Act, 2013 from 12th September, 2013) shall not be applicable for May 2014 examinations both at the Intermediate (IPC) and Final levels.
The examinations will be based only on the existing syllabus.
1. Bank Audit (major changes in investment norms, NPA, NPI, Securitisation of assists, Sale of NPA, Debt waiver schemes etc.)
2. Audit of GIC.
4. Peer review (Major changes as per revised statement on Peer review).
5. Clause 49.
6. Audit of members of Stock exchange ( Few updations in other chapters too).
The Companies Act 2013 is being notified in parts. Till date only 98 sections have been notified by MCA. So, as of today all companies have to follow both. The Companies Act 1956 and just a few sections of that of 2013. (Please check the website of MCA for more authentic information).
Most importantly, for auditing, the chapter X of New Companies Act 2013 which relates to Audit and Auditors has not been notified till date. So all related provisions of existing Co. Act 1956 are applicable in this respect which means there is no change in Co. Audit chapter even if ICAI makes these 98 sections applicable for any particular attempt .
All these details can be checked on the MCA website,(CLICK HERE)[adsenseyu2]
All the best!
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