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CA Pratibha Goyal | Apr 19, 2022 | Views 141426

CA, CMA & CS (Amendment) Act 2022 receives assent of the President [Read Notification]

CA, CMA & CS (Amendment) Act 2022 receives assent of the President [Read Notification]

The Chartered Accountants, The Cost and Works Accountants, and The Company Secretaries (Amendment) Act, 2022 (CA, CMA & CS (Amendment) Act 2022 or The Amendment Act) has received the assent of the President and has been notified in E-gazette.

It is an act further to amend the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959, and the Company Secretaries Act, 1980.

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It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

The Amendment Act seeks to strengthen the disciplinary mechanism of the three institutes i.e. the Institute of Chartered Accountants of India (ICAI), the Institute of Cost Accountants of India (ICMAI), and the Institute of Company Secretaries of India (ICSI).

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Another focus of the Amendment is to address conflict of interest between the administrative and disciplinary arms of the Institute.

The amendment seeks to ensure quality improvement of the academics, infrastructure, research and all related works of the Institute & focus on the coordination and collaboration among the professions.

Click on the Link given below to Download the CA, CMA & CS (Amendment) Act 2022.

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