ICAI extends last date for filling the MEF for 2020-21 till 10th November 2020
ICAI Announcement dated 6th Nov 2020
It has been decided to extend the last date for filling the Multipurpose Empanelment Form for the year 2020-21 for further 4 days, i.e., till 10th November 2020, Tuesday to mitigate the difficulties being faced by the firms in uploading of necessary data.
The ICAI Multipurpose Empanelment Form Panel for FY 2020-21 is available at www.meficai.org.
Extension of ICAI Online MEF Application 2020-21
For the FY 2020-21, the Institute is seeking additional information related to professional experience in the fields other than Bank Branch Audit. For example, internal Audit, Indirect Tax, Forensic, International experience etc.. The said information is however optional.
The key highlights of the MEF- 2020-21 are:
Field of District in the address of the Firm
- In green field, the District is populated as per the records available in SSP. The same is to be confirmed by the applicant in the column “District as per Applicant”. In case, the district on the basis of the address of the applicant in SSP is incorrect, then applicant needs to select the correct District or else select the same District (as appearing in the field-District as per ICAI) in this field.
- In case, the address of the applicant has been changed from the address as appearing in green fields, the address is to be changed in Institute’s record through SSP and then only the new address will be considered. However, the applicant may inform through grey fields and update in SSP of lCAI.
Lat-Long (from Google Map)
- The lat-long is being captured as per the address as in SSP records, the same can be verified for its correctness/ rectified by choosing the exact location (within the District) through the map exhibited.
OTP based Validation of Declaration
- For this year, the declaration for the MEF Application will be sought from the member/ partners/ proprietor through validation of One Time Password (OTP) instead of scanned / digital signatures as was done in the past.
- In case of Partnership firms, all the continuing partners must validate the declaration through OTP else the MEF application will not be treated as submitted.
- In case, any partner has retired/left, the change in constitution of the firm needs to be updated in the SSP of ICAI so that she / he is not a continuing partner and thereupon MEF application can be accepted without validation of OTPs from such partners.
Category / Ineligibility of Application
- The category will be informed to the applicant on the submission of the Declaration validated through OTP by all the continuing Partners / Proprietor / Member practicing in his individual name. Further, in case of the applicant is ineligible for Bank Branch Auditors’ Panel, the reason therefor would be exhibited in the acknowledgement after submission of the Declaration.
- The information of association of the partner / proprietor / member elsewhere will be shared immediately to the applicant on logging to the MEF.
- The firms with common partners who will withdraw from Bank Branch Auditors’ Panel (for making one firm eligible for Bank Branch Auditors’ Panel) will be considered for other Panels.
It may be noted that change in any data in MEF will only be considered if it is updated and reflected in SSP of ICAI at the link eservices.icai.org
Once again it may informed that the MEF Application can be submitted only on uploading the Financial Documents of the firm and continuing Partners/Proprietor/Member practicing in his individual name, as the case may be. After submission of the MEF Form, the declaration is to be validated by all continuing partners through OTP, else the MEF application will not be processed further.
- Report of the Company law committee on Decriminalization of the LLP Act 2008
- Penalty u/s 271E deleted when loan was paid in cash to avoid default effecting CIBIL score
- Extension of validity of FCRA registration certificates expiring between 29.09.2020 and 31.05.2021
- MCA gives more time for holding AGM through VC/OAVM in Calendar Year 2021 subject to legal action
- Waiver of additional fees of overdue filings by struck off companies restored by NCLT order u/s 252