ICMAI proposes multidisciplinary firm for cost accountants – Read Draft Regulations

ICMAI proposes multidisciplinary firm for cost accountants – Read Draft Regulations

THE INSTITUTE OF COST ACCOUNTANTS OF INDIA

Notification No. CWR (1) 2021

Kolkata, the 13th August, 2021

.The following draft of certain regulations further to amend the Cost and Works Accountants Regulations, 1959, which the Council of the Institute of Cost Accountants of India (hereinafter referred to as the Council) proposes to make, is hereby published, as required under sub-section (3) of Section 39 of the Cost and Works Accountants Act, 1959 (23 of 1959) for the in formation of all persons likely to be affected thereby, and notice is hereby given that the said draft will be taken into consideration on or after the expiry of period of forty-five days from the date on which the copies of the Gazette of India in which these draft regulations are published are made available to the public.

Any person desiring to make any objection or suggestion in respect of the said draft regulations may forward the same for consideration by the Council within the period so specified above to the Secretary, The Institute of Cost Accountants of India, CMA Bhawan, 12, Sudder Street, Kolkata –700016.

Draft Regulations

1. (1) These regulations may be called the Cost and Works Accountants (Amendment) Regulations, 2021.

(2) They shall come into force on the date of their final publication in the Official Gazette.

2. In the Cost and Works Accountants Regulations, 1959 (hereinafter referred to as the said regulations),-

(A) in the said regulations, after Regulation 111C, the following shall be inserted –

Regulation 111D : A member in practice may form multi-disciplinary firm with the member of other professional bodies as prescribed under Regulations 111B and 111C in accordance with the regulating guidelines of the Council for functioning and regulation of such multidisciplinary firm.

CMA KAUSHIK BANERJEE, Secy.

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