Subject NOT available

(b) encourage and promote the development of regional organisations with common objectives and develop guidelines for the structure and constitution of such regional organisations;

(c) arrange the holding of International Congresses of Accountants so as

to

(i) enable membr-rs of the Accountancy profession to meet one another in an environment that facilities discussion and the interchange of ideas concerning accounting and related matters;

Oi) direct attention to and inform accountants of developments in selected fields of accounting thought and practice, and

dii) reach broad conclusions on desired common aims

The Council has decided to support the nroposal to set up the International Federation of Accountants The ICCAP which has so far been responsible for organising International Congresses would be wound up as soon as the Federation is brought into existence

%. international Conetess of Accountants

The 11th International Congress of Accountants would be held vn Munich (Federal Republic of Germany") fro^ jOtti to 14th October 1977 The theme of the Congress is "Accounting and Auditing m One World" and members from

I5> more than 100 institutes from all over the world would be participating in it

the f o l l ^ mS S c t lS C o n f e d e r a t l on wfiich has since bMn formed will serve

(a) initiate, coordinate and guide work that has as its goal the achieve- ment of technical, ethical and educational guidelines for the accourw tancy profession within the region as well as reciprocal recognition oi qualifications and to work towards this purpose by establishing appropriate committees as well as working through the national organisations for implementation;

(b) encourage and assist the development of national accountancy orga- nisations within the regions with common obiectlves and formulate guidelines for the structure and constitution of such organisation,

(c) review CAPA's role, functioning, and constitution and propose changes necessary to achieve its objectives.

India is represented on tno Executive Committee of the Confederation through our sitter Institute, the Institute of Cost and Works Accountants of India 5. The Accountantsdaer-WJ of the Netherland Institute

The Council decided to participate m the annual event^the Accountantsdag—

1977 of the Netherland Institute of Registered Accountants, held on 12th May 1977 in Rotterdam Shri S H Talavlikar, a member of the Council, was nomi- nated as its official delegate.

Ill PROFESSIONAL DEVELOPMENT

1. Accounting Standards Board

,

The Council has constituted Accounting Standards Board The following are the broad lunctionq of this Board —

(a) to conceive of and suggest areas in which accounting standards need to be developed;

(b) to formulate national accounting standards (including alternatives if justified m appropriate situations) with a view to assisting the Couru. cil in evolving and establishing accounting standards in India; (c) to examine how far International Accounting Standards can be integ- rated into the national accounting standards, as envisaged in para (b) above and to integrate the game to the extent possible; (d) to review, at regular intervals, the Accounting Standards from the point of view of acceptance or changed conditions; and (e) to carry out such other work relating to Accounting Standards as may be entrusted to it by the Council.

The Board will devote special attention to the following areas-

(i) define the purposes and limitations of published financial statements and of the attest function of the auditor;

(ii) enumerate and describe the basic concepts to which accounting prin- ciples should be oriented;

(ill) state the accounting principles to which the practices and procedures should conform,

(iv) define the phrases commonly used in the auditor's report; and improve the terminology therein, wherever found necessary;

(v) move towards the reduction in number of alternative practices in accounting by adopting policies under which it will—

(a) recognise the objective that variations in treatment of accounting items generally should be confined to those ^stifled By substantial differences in factual circumstances,

(b) set forth the criteria for application of such acceptable variations; (c) In a standard dealing with a situation where the Board believes that ( ' alternatives are justified even though there is no significant dlf-

its approval

21

The Board consists of the following ten members.

1. Shri N C. Krishnan (Chairman) 2. Shn P. N. Shah (Vice-Chairman) 3. Shn B. L. Kabra

4 Shn B R Ma'ieswan 5. Shn Y H. Malegam 6 Shn P K Malllk 7 Shn S V. Ghataha ~) 8, Shn S A Murahpratad ( 0. Shn P M Nanelvalu } Co-opted members

10 Shn A B Tandan J

2. Dialogue with Users of Accountancy Services

The Institute has embarked upon a series of workshop discussiong with a view- to establish a better rapport with users of accountancy services The object of these workshops hat been to understand the problems oi users and to explore the areas of mutual co-operation

Such workshop discussions have so far been held with the following organi- sations:

(1) The Associated Chambers of Commerce & Industry during July 1976. (2) The Federation of Indian Chambers of Commerce & Industry during September 1976.

(3) The Standing Conieronce ox Public Enterprises during November 1979 (4) The Central Board of Direct Taxes during June 1977,

3. Professional Development Committee

Ca) Workshops were held during July—August 1976 at New Delhi, Bombay, Madras, Cochin and Calcutta on. the report submitted by TANDON STUDY GROUP constituted by the Reserve Bank oi-India. The Indian Banks' Association was actively associated with these Workshops

(b) A Course on "Tax Practice" was held at Madras from 12th to 15th August 1976.

(c) A course on Company Deposit Rules, Tax Planning by closely held com- panies, Manufacturing and other Companies, Auditors' Report Order 1975 and Tax Planning through public and private trusts was held at Indore on :ird and 4th July 1976

(e) A Workshop on '"Users' View of Financial Statements and Accountancy Service" was held with the representatives of Standing Conference of Public Enterprises (SCOPE) at New Delhi on 29th November 1976, with a view to promote better understanding and rapport with the Public Sector (briefly ref- ened to under para 2 supra)

(f) A Sub-Committee of the Professional Development Committee has been constituted to deal with the areas of specialisation and diversification of profes- sional services, including management consultancy and internal audit.

4. Research Committee

(a) The Council gratefully acknowledges the donations received after pub- lication of the last report towards scientific research from donors mentioned at Appendix III to this report

Donations received by the Institute up to 31st March 1977 for the above purpose will quali'fv for tax deduction under Section 35(1) (li) of the Income- tax Act

(b) The Committee is glad to report that it has brought out the following Guidance Notes and Statements: —

(I) Internal Control Questionnaire

(d) Note on Shortfall in the Value of Bank's Investment

Oh) Compendium of notes issued for guidance of the members from time to time

((iv) The Statement on Auditing Practices (Revised Edition) (v) Statement on the Manufacturing and Other Companies (Auditor's Report) Order 1975—issued under Section 227 (4A) of the Companies. Act, 1956

(vl) Research Study on Management Control Systems (vii) Guidance Note on Issue of Bonus Shares

(c) The following projects are under consideration of the Committee: —

(l) Social Cost Benefit Analysis (ii) Precedents in published accounts (111) Accounting for Inflation (iv) Note on Treatment of Reserves on Amalgamation/Merger of Companies (v) Accounting and Control Systems in a Shipping Company fvi) Revision of the Statement on the Treatment of Retirement Gratuity in Accounts in the light of the comments and views received from the- Actuarial Society of India

(vh) Revision of Payment of Bonus Act, 1965—An Accountant's Study (viii) Revision of the Study on Audit of Banking Companies

(d) The final version of the following International Accounting Standards have so far been received and published in the Newsletter:

IAS-1 Statement on Disclosure of Accounting Policies IAS-2 Valuation and Presentation of Inventories in the context of the Historical Cost System

IAS-3 Consolidated Financial Statements and the Equity method of Accounting

IAS-4 Statement on Depreciation Accounting IAS-5 Statement on Information to be Disclosed in Financial Statements IAS-6 Statement on Accounting Treatment of Changing Prices

(e) The comments of the Committee on the following Exposure Drafts of the International Accounting Standards Committee have been finalised and for- warded to the IASC

(I) Exposure Draft No. 7—Proposed Statement of Source and Application of Funds

(u) Exposure Draft No 8—Proposed Statement on Treatment in the Income Statement of Unusual Items and Changes in Accounting Estimates and Accounting Policies

(f) The Committee is considering the Exposure Draft No 9—Proposed State- ment on Accounting £nr Research and Development Costs and Exposure Draft No 10—Proposed Statement of contingencies and events occurring after the balance sheet date, and Its comments will be forwarded to the IASC

(g) Shield Panel—After review of 120 entries received for the competition for the Best Presented AccounLs the following awards were presented d) Shield lor the Best Presented Accounts for the year 1974-75 to the Bharat Heavy Electncnls Limited (for thp year ended 31-3-75) (n) Plaques for highly commended accounts to

(a) Ashok Leyland Limited (for the year ended 30-9-1974) (h) Shaw Wallace and Company Limited (for the year ended 31-12-1974) (c) The State Trading Corporation of India Ltd (for the year ended 31-3 75)

5. Taxation Committee The Ninth All India Seminar on Taxation was held at Ahmedabad on 6th and 7th August, 1977 with 'Tax Reforms' as ita theme

23

A Residential Course on Taxation was held at Ooty from 4th to 7th June, l')77 in which eminent judges and members of the le^dl profession also took part, as faculty members

The Institute proposes to submit a detailed memorandum containing Its views and suggestions on Reforms in Direct Tax Lav\ s¹ to the Direct Tax Laws Com- mittee headed by Shri N A Palkhlvala

The Institute has submitted a Pre-Budget Memorandum to the Finance Minis- ter containing its views and suggestions On matters relating to fiscal policy and direct tax laws

The Institute was associated with the pieparation of the draft rules for com- pulsory maintenance of accounts issued by tho Central Board of Direct Taxes. A detailed ^presentation has been submitted to the Board in regard to the form and contents oi the Audit Report which Chartered Accountants are required to give for the purpose of tax audit under the Income-tax Act

As part of the scheme of educating the taxpayers, the Institute has taken up the task of rendering free advisory service to taxpayers on compulsory main- tenance uf accounts under the Income-tax Act

The Tax.Uion Committee has submitted the following representations to Gov- ernment DI . horities —

1 R"p"r3ent?t'on dated lHth August, 197fi to the Union Minister for Law, Justice & Company Allalrs in regard to the appointment of the Pre- sident of the Income-tax Appellate Tribunal

2 Representation dated 15th September, 1976 to the CBDT seeking allow- ance of standard dedufhon to all employees regardless of the amount oi conveyance allowance or benefit towards, conveyance derived by them at tho lull rates applicable under Section lGu) of the Income- tax Act The Board had regretted its inability to accept this suKtfes- tio'i and, tHe^efore. d"other icpretentation was submitted on 8th Fpbiuary, 1977 to the Board requesting it to reconsider its decision

3 Representation dated lGth September, 197G to the Chairman, CBDT, in regard to tax concessions to Indian citizens in resnect of foreign assets

4 Representation dated Tith October, 197G to the Chairman, CBDT, m re- gard to deductions in respect of lnturne tax appeal expenses in com- puhiig taxable income

n Representation dated 30th October. 147fi to the Chairman, Central Board of Direct Taxes (CBDT), on Amortisation of Preliminary Expenses Tot Income-ta^ purposes

fi Representation dated Win October, 1()7G to the Chairman CBDT, in re- gard to deduction in respect of medical expenses for self-employed individuals

7 Representation dated Udh January, 1977 to the CBDT in regard to lax e-eruption in respect of capital gains derived from the transfer of self-occupied residential hour's The Boaid has regretted its inabili- ty to accept the sug^eFt'on

8 Memorandum on Indirect taxes submitted to the Indirect Taxation En ciuiry Committee on 17th Janufny, 1977

9 Representation dated t-7th January, 1077 in regard to tax exemption to

charitable trusts and institutions

10 Representation dated 17th January, 1977 to the CBDT in regard to de-

ductions in respect of donations; for charitable purposes

11 Representation dated 19th January l'J77 to the CBDT on Approved Gratuity Funds The Bujrd has regretted its inability to accept ou- suggestion

12 Representation dated 8th February, 1977 to the CBDT in regard to De-

posits by Companies in lieu of Surcharge

13 Representation da'ed 4th March, 1077 to CBDT on Waiver of Interest

"under Section 220(2) of the Income tax Act

14 Representation dated 2'ird March 1977 to the CBDT in ie

rnent of taxes bv cheque

IS Memorandum dated 12th May, 1977 to the Finance Minister in respect of Wealth-tax exemption lor professional fees and Abolition of regis- tered firms tax

It is pioposed to Issue guidelines to the members for carrying out tax audit under the provisions of the Income-tax Act, In addition to the publication of the revised edition of the Guide to Tax Practice. It also proposes to bring o.it publica- tions on the following topics¹

(1) Taxation of Charitable Trusts and Institutions (Ii) Tax Treatment of Gratuity

(Hi) Taxation of Non-residents in India

(lv) Monograph on compulsory maintenance of accounts

<> Company Law Committee

"(a) The Committee is actively engaged in the task of bringing out the follow- ing publications'

(1 " Revision of Statement No H 7 501 7—Opinions regarding certain pro- visions of the Companies Act

(2) Guidance Note with regard to Accountant's Report in Prospectus (3) Guidance Note on Companies (Acceptance of Deposits) Rules, 1975

(b> A representation was made to the Government in regard to signing of Form 23-B under fie Companies Act, lHSfi, m the name of the" firm

(c) The Second All India Seminar on Company Law was held nt the West End Hotel, Bangalore, on 29th, 30th a'id 41st October 1976, Th" theme of the Seminar was "Company Law nnj Social Objectives" The Seminar which was attended by 161 participants was inaugurated by Shn S M, Krishna, Minister of Industries, Karnataka State

(d) The attention of the Council was drawn to the reply No 12/9/78-CL V dated 8th March 1077 issued by the Department of Company All'airs, Government of India, to Vie Federation of Indian Chambers of Commerce & Industry in con- nection with advertisements in the Souvenirs published by political parties in the context of Section 293-A of the Companies Act. The Council considered the Issues involved and felt that the guidelines given in the Institute's Publication SECTION 293-A OF THE COMPANIES ACT AND THE AUDITOR do not require any modi- fications, in consequence, and the views expressed therein continue to be valid.

7, Post Graduate Course Committee

(a) The Post Graduate Course Committee organised the following Courses/ Seminars under the Continuing Education Programme—• " '

(i) "Management Accountancy & Corporate Strategy" at Bombay on 10th, llth and 12th April 1976.

(ii) Residential Course on "Management Information Systems" at Darjeehng from 3rd to 6th June 1979

(lit) "Financial Management of Sick Units" at Calcutta on 13th and 14th August 1976

(Jv) Residential Programme on "Corporate Planning'' at Goa from 12th to lflth October 1976

(v) ''Computers as Management Tool for Chartered Accountants" at Calcutta from 30th November to 5th December 1976

25

(e) The practical training facilities for Part II of the Course have been extended to include the firms of Public Accountants situated outside India The-,e firms would now be recognised on the same terms and conditions as are applicable to professions} firms of Chartered Accountants and other consultancy firms, in India The partners of such firms should, however, belong to a recognised account- ing body

The employment of members with companies/organisations outside India would also be recognised for the purpose of undergoing practical training, subject to fulfilment of the same condition;, as are applicable to the organisation in India

(f) The amendment of paragraph 1(2) ot Schedule 'C to the Chartered Ac- countants Regulations for change in the designatory letters " D M A" to "DMA. (ICA)" was approved by the Government and the final notification was lssed on 8th February 1977 Paragraph 3(1) of Schedule 'C has also been amended to relax the requirements for admitslon to Part I of the Course The amended provision would now entitle a person to cot admission to the Part I Ev animation on completion of o'le vear from the date of passing the Chartered Accountants Final Examination, provided he is a member at the time of appear- ing in the examination

(g) The conditions for the award of Merit vScholarships irider the Incentives Scheme of the Course have been relaxed and hencefortn every member of the In- stitute desirous of taking up the course would be eligible to ."ipply for the grant of scholarship, irrespective of the marks seciu"d bv him tit the Final Chartered Accountants Examination.

(h) With a view to popularising the Course and to provide assistance to pros- B£c1ive candidates, the Committee has undertaken the publication of model ans- wers for Papers (1) and (2) of Group I of the Examination The first series of model answers for the questions set in papers (1) * (2) of Group I Examination held in November 1075 have been published and released for sale

8. Export Advisory Committee

(a) The Expert Advisory Committee renuered its opinion on seven queries received by it

(b) The Committee ig engaged in bringing out a compendium of opinons given by it since its inception

9. Employment Committee

fa) The number of members on the Employment Register on 51 3 11)77 was 200 a* against 135 on 31.3.1976

(b) The service of sending clipping from leading newspapers regarding- vacan- <:ies for Chartered Accountants to the members borne on 1he Employment Regis- ter was continued as it had proved useful.

(c) A list of successful candidates opting for service in the Public Sector Under- takings was sent to all the Council Members for helping them to get employment,

In the matter of appointment of chartered accountants to man the highest posi~ tion in the accounts and finance division of the Public Sector a meeting was held •with the Chairman of the Public Enterprises Service Selection Board

10 Ethical Standards Committee

The Committee has brought out a note on "Communication with the RetnlnK Auditor" with the approval of the Council

The matters now under consideration of the Committee are'—

1. Prohibition of appointment of relatives of directors as auditor!)

2 The need for etxending the provisions relating to Professional Misconduct

to the members of the Institute in service.

3 The recent trends about the advertisement by Chartered Accountants In the United Kingdom vis-a-vls our own provisions.

11. University Liaison Committee

(a) Award of prize for best paper in Accountancy in B Com/B.Com, (Uons ) Examination of certain universities.—With a view to popularise the Accountancy

education at university level, the Council approved the proposal 'or institution of a prize for the best paper on accountancy in B Com /B.Com (Hons ; Examina- tion In the universities of Bombay, Madras, Calcutta, Delhi and AJlahabad Tht> universities of Calcuta and Delhi have already agreed to create endowments fur awarding the prize

(b) Recognition Jor our Institute as an approved institution by the Gujarat University for guiding their research schvlan>,~A request was made to the Uni- versity of- Gujarat for recognising our Institute as an approved institution under Section 35-A of the amended Gujarat University Act, for guiding their research scholars m accountancy and allied subjects The University has conveyed its approval in this behalf on 26th March 1977.

(cj Regional Workshops or Seminars in Co-opeiatton. with the universities —In pursuance of the Committees programme to organise frequent regional workshops or seminars in cooperation with the Universities, a seminar on "Management In- formation Svstems" was held in Calcutta in cooperation with the University of Calcutta during the year under report, which was attended by distinguished mem- bers oi; the profession and eminent teachers of the Calcutta University,

(d) Meeting with the All India Commerce Panel of the University Grants Com- mission—A joint meeting of the membeis of the Committee with the members of All India Commerce Panel of the University Grants Commission was held at New Delhi to discuss the matters relating to the Commerce education in the universi- ties and other matters relating to the recognition of the profession at various levels In the Universities

12. Renegotiation of audit Tees

Members are aware that in exercise of the powers conferred by Section ^1!7(4A) of the Companies Act the Department of Company Affairs, Government of India issued the Manufacturing and Other Companies (Auditor's Report) Order, 1BT5, prescribing a number of additional reporting requirements m th? audit report of specified categories of companies Thesi.' additional reporting requirements were made operative¹ from the accounting year ending on 1st January HI7C or there- after

In view of the fact that the aforesaid Order was issued to take almost imme- diate effect, a representation was made to the Department of Company Affairs I hat this would cause hardship to the auditors whose appointments were made in respect of the current vear before thp notiftPtMion of the Order and the fees were /ixed without taking into account the increased work-load, arising out of the Order The Department has advised that the auditorg may take up this matter with the companies concerned,

13 Newsletter and Journal of the Institute

As before, the Newsletter is being supplied In dU mom^eri of the Institute, free of charge, to serve as a channel of communication with the members It is also available to the articled and audit clerks at an annual subscription of Rs. 10/- and to non-members.at an annual subscription of Rs 15/-. The Journal is being sup- plied to all members and others who are subscribers A concessional rate of Rs 20/- is beinji charged from students undergoing CA Courge and those study- ing commerce In Universities and Colleges The circulation of the Journal has now reached 13,000 copies

IV. OTHER MATTERS

II, Review Committee for Accounting Education

The Review Committee for Accounting Education, appointed by the Council completed during the year the recording of evidence of members of the profes- sion student representatives, industrialists and educationists and settled the basic issues to be considered by It while drafting its report Considerable progress wa" aKn marie in discussing the various* issues Involved and in arnvainjj at tentative conclusions thereon The Com*n)ttee expects to complete its deliberations and sun- lnlt Us report by the end of this year it Ninth All India Conference of Chartered Accountants

The Council has decided to hold the next (ninth) All India Conference of Thartered Accountants at Madras in January 1R7S This is a triennial event and arouses considerable interest and enthusiasm among the memhers A Conference

27

Committee under the Chairmanship of Shri B. R. Maheswarl, the President, haa been appointed to make arrangements lor the conference

3. The Annual Function of the Institute

The 27th Annual Meeting and the prize distribution was held on 16th Septenv.

ber 1U7H at New Delhi Ilon'hle Dr V A Seyid Muhammad, Minister of State tor Law, -Justice and Company Affairs was the Chief Guest at the function. The prizes and medals awarded on the results ot the|Institute's examination and awards 1 o the winners in the Institute's competition for the best presented accounts werf. distributed by him. The Hon'bJe Minister gave a very illuminating and thought- provoking soeech on the occasion

4 Elections—1976

As mentioned in the last report, the elections to the Council of the Institute and its five Regional Councils were held during the year 1976 A complete ban on jionvassmg was introduced in order to maintain the high ideals of propriety and dignity which arc a part of the Code of Conduct of the Institute. The Council is happy to record that the elections went off smoothly It wishes to acknowledge with appreciation the manner hi which the members contesting the elections oh- Kerved the ban on convassing in the true spirit,

ft library

During the year, 1,051 books were added to the Central Council Library at New Delhi bringing the total number of books to 13,782 Increasing use of the library was made by members and students.

U. Chartered Accountants' Benevolent Fund

As a result of the President's special appeal to the members published in the .Newsletter and the circular sent by him to all members alongwlth the circular for (he annual membership fee, there has been a large awareness among the mem- bers about the benefits derived from the membership of the Fund As n resutt of these appeals many members have enrolled themselves as members or made re- mittances by way of donations,

During the year, the number of members increased from 200 to 402 and a sum oi Rs 5,40(1''was disbursed by way of financial relief The balance to the credit of the Fund at the end of the year stood at Rs 78,224 as against Rs 63,845 at the end of the previous year,

7 S. Vaidyanath Aiyar Memorial Fund

The number of members of the Fund Increased during the year from 50 to 63 At the end of the year the balance to the credit of the Fund was Rs 25,720 as against Rs 25,848/- at the end of the previous year A sum of Rs 5,325 was paid by way of scholarships to students

It. Publications

The publications which have been brought out by the Institute since the last I eport have been mentioned under the different subject-heads

V MEMBERS

I. Membership

The numbei of members fli the Institute on 1st April, 1977 was 13,130 record- ing an increase of 1367 since 1st April, 197fi During the year, 649 Associates were enrolled as Fellows ds compared to 491 m the p-evious year Appendix V dives the classification of membership

,!. Restoration of names to the Register of Members

In the previous report, it was mentioned that the Council had decided that It ihe application for restoration, complete in all respects Is received in the same year in which the name is removed from the Register of Members, the restoration would be given effect to from the date of removal It was ajso mentioned that decision would take ell'ect after the amendment to Regulation 17 of the Chartered Accountants Regulations came into force.

The Council is glad to announce that the amendment to Regulation 17 has come into force with effect from 7th August 1976 bringing the above procedure of resto- ration into operation

3. Certificate of practice cancellation

Under the provisions of the amended Regulation 10, If the fee for the Certificate of Practice is not received by the 31st day of July oi the relevant year the certi- ficate of practice of a member stands cancelled with effect from the 1st August of that vear During the year under report, the Certificates of Practice issued to J7U members were cancelled as the prescribed fees were not received irom them In time or at all

4. Decentralisation

The scheme of decentralisation has been found to be working satisfactorily in the Southern Region in which the scheme has so far been in operation The Council has decided to extend this scheme progressively to the other regions according to the following phased programme'—•

Eastern India Region 110 1077 Central India Region 1 4 1978 Western India Region 1.10.1978

5. Clarification regarding engagement in other occupations

A question was raised whether a member in practice could be allowed to manage the business of another under a power of attorney A number of other questions were raised as to whether a Cbaitared Accountant in practice could perform, cer- tain specified functions on behalf of a client, The matter was discussed by the Council and a detailed note giving answeri to the various questions raised was published at pa^es 118—120 of the Newsletter lor November 197H

6. List of Members

The Liit of Members as on 1st April, 1977 prepared region wise has been brought out in June, 1977 The list also contains a separate compilation of mem- bers residing outside India

7. List of Finns

The Council has decided 1o piint the list of firms separately as a priced publi- cation The list as on 1st April, 1077 has been prepared and brought out in June, 1977

8 Death of Members

The Council records with regret the sad demise during the year of the mem- bers whose names appear in Appendix VI.

The Council also records with deep regret the sad demise of Shri R Venkatesan on 19th June'1977 at Madras Shri Venkatesan was the President of the Insti- tute during the year 19G8-fi9 and the Vice-President in 19G7-68

9. Disciplinary Action

Details of the orders of the High Courts on the findings of the Council in the cases referred hv It for enquiry to t^ie Disciplinary Committee under Regulation 11 [8) d) and the finding of the Council since the last report, are given in Appen- dix VII.

VI, ARTICLED AND AUDIT CLERKS

1 Fresh Enrolment

The numbers of articled and audit clerks registered during the year, as com- pared to those registered In the preceding year, are given below —

196(5-77

1975-76

5636 90

R100 154 Articled clerks Audit clerks

Z Determination of the main occupation of members for training of articled/audit

clerks According to the provisions of the Chartered Accountants Regulations, as am- ended from 1st October 1973, a member is eligible to train an articled/audit clerk only if practice 01 the profession of accountancy Is his main occupation both at

29

the time of engaging the articled/audit clerk as well as in each oJ! the qualifying years on the strength of which he claims eligibility to train the articled/audit clerk

The period of service recognised would be restricted to the period beginning with the date of commencement of the training and ending with expiry of one month irom the date of communication of the decision of the Institute regarding the inedibility of the employer to train the articled/audit cleik

6. Maintenance of attendance register by chartered accountants training articled

and audit clerks

Instances have come to the notice of the Council in which it has been found that some of 1;he principals are not maintaining any attendance register in respact oi their apprentices or record of leave taken by them This has given rise to disputes over the quantum of leave availed of by the artlcied/audit clerks

The Council wishes to impress upon the members training articled and audit clerks the necessity to maintain regular record of the attendance and leave taken by their articled and audit clerks.

7. Book banks for poor and needy students

The Council had accepted the proposal of the Jaipur branch of the Central India Regional Council lor starting Book Banks for the benefit of poor and needy students The Council has decided to encourage the regional councils and their branches to start such Book Banks on a voluntary and self-supporting basis Suitable guidelines and rules for the functioning of the Book Banks have been framod and communicated to the regional councils and their branches for neces- sary action,

8 Information regarding reeistration of articled and audit clerks

A booklet entitled ' Information regarding registration of artj<\ied and auuit clerks" has been brounght out bv the Institute to supplement the publication "Education and Training for Chattered Accountancy". It contains the detailed procedure for registration of students and deals with a number of problems which generally arise at the time of submitting applications 'for registration of training. The' delays in registration of training of the apprentices can be avoided m most cases by following the procedures contained m this publication

9. Board of Studies

(a) Change in Name.—The Council lias changed the name of the 'Coaching Board' of the Institute to the Board of Studies'

(b) Strength —During the year under report, 5726 students were enrolled (under the New Regulations) for the Intermediate Course as against 5254 in Lhe previous year

For the Final Examination, H017 students commenced tuition as against 3140 m the previous \ear The number of students who completed tuition during the year was 4308 tor the Intermediate Course as compared to 59(12 m the pievlous year Also, 32fi5 and 3201 students completed tuition for Group I and Group II "of the Final Course as compared to 2hl7 and 274H students lespectivelv in +he pievious year Statistics regarding enrolment of students and other related mat- te fM are given in Appendix VIII,

(c) Study Material and other activities—The study mateual supplied to student*, is, as usual, constantly brought up to date Also, the Board has heo-i contributing to the Institute's journal regular leatures by giving, in summary form, current economic events, a summary of important artldps relating rn accounting and auditing in foreign iournals, a dieett of income tax and company cases Income-tax Law a" 1 Company Law quiz and current readings Also, it has been preparing the Management' quarterly and Fconomics quarterly

(d) Students' Libraries—The number of Students' Libraries including those at regional headquarters is 30

(e) Revision Classes—These classes continue to be popular and are conducted at a number of places, over and above those at re&onal headquarters Two Res,sion,s of Classes each of four months' duinlion for the Intermediate Students ( ]\ -nv Reffulfihonsi were held in Madras, Delhi, Bombay, Calcutta and Kanpur, Studouis who aitend 75 per cent of the lectures and do 75 per cent of the tutorials satis- factorily become entitled to exemption from answering the test papers of the Board (f) Publications.—The Board is up-to-date in respect of volumes of suggested answers to the questions set at the Institute's Examinations, the volume in respect of November, 1976 examinations having already been published

(a) Merit and Loan Scholarships—During the period under report, 10 merit scholarships and 90 (as against 100 sanctioned) loan scholarships were awarded,

3i

Ten applicants tor Loan Scholai ships did not avail themselves 01 the same.

• Besides, free studentships were granted to twenty students

(h) Academy of Accounting—The Board organised three pilot courses of the Academy of Accounting, at Madras, Delhi and Bombay. The results of this com so, ds a wnole, can be considered quite satisfactory

(l¹) Entrance Course—In puisuancc of the Board's decision to offer an optional correspondence course to those candidates who wish to appear tn the Entrance Examination conducted by the Institute, 201 students have, during the period under uvlew, taken up the course

10 Students' Associations and their Branches

Thp Students' Associations and their Branches rontinued to function in all the regional constituencies, viz, Western, Southern, Eastern, Central and No?them Some of those were active and arranged conferences, seminars, lectures, study circle meetings, educational toures etc

VII EXAMINATIONS

1. Examination 1976

The examinations were held, as usual, in May and November, 197ti, at vanoud centres all over India The statistics relating to the number of candidates who appeared and who were declared successful are given In Appendix IX.

2. Prizes and Certiflcates of Merit

I he n n i es of candidates who were awarded prizes and certificates of merit in the examinations hold In May and November 1976 are given in Appendix X

3. Action against examinees

The Council has debarred 12 candidates who were found to have resorted to unfair means, from appearing in the examinations, for varying periods.

Northern India Regional Council, viz, Chandigarh and Ludhiona and one of the Eastern India Regional Council at Asanbol, continued to function

The fifth branch of the Central India Regional Council was opened with effect from 16 9,1976

The twelfth branch of the Southern India Regional Council at Visakhapatnam was opened with eilect frnm llUrd Amil, 1977

With a /lew to rendering better service to members residing in areas far away from the headquarters of the Regional Councils and their branches, Re- gulation lue of the Charteied Accountants Regulations has been amended to provide setting up a branch of a H' ;ional Council In a State or Union Territory in winch neither the hcadquaitcjin of the Regional Council nor a branch of the Regional Conned is located provided that there are not less than ion members having their addresses iegistoied in that State or Union Territory as the case may Le Suc'i a branch mav I'f set up m any elty of such State or Union Territory as the Council may consider proper.

IX FINANCE

1. Accounts

The Balance Sheet as at .'i'sst Mai eh, 1H77 and the Income & Expenditure Ac- count for the year end^d on that date, duly audited, are annexed to this report. The Income & Expenditure Account lor the year shows a surplus oi Rs 11,33,556 as against a surplus of Ht> 3,l)l,G81 lor the preceding vear

An anahsls of the expensed on members is shown in tho appendix to the ac- counts

2, Auditors

Sarvashri P R Mehra and M R Venkntnr.iman continued to be fie Institute's auditors for the year ended 31st Match 1977.

X APPRECIATION

The Council wishes to place on record its grateful thanks to the Government for its continued support and assistance

The Council wishes to record its appreciation pf the valuable contribution of the members of the Institute who were co-opted on its various committees ab also other members of the Institute and other distinguished persons who participated in tlie various conferences, seminars, etc organised by the Institute

The Council further wishes 1o place on record its appreciation of the work done by the officers and staff during the year under report.

P S GOPALAKHISHNAN, B L KABRA, " B R MAHESHWARI,

Secretary Vice-President President,

New Delhi, Dated 14th September, 1977

APPENDICES TO THE ANNUAL REPORT

APPENDIX I

(Ref Para l/i of the Report)

MEMBERS OF THE COUNCIL

Mare^wpn, B. R,

Preiidert

Kabra, B. L.

Vicc-Pre?idert

C llCl'ttCl j T n ur Calcutta Arcade, S.G, •Aiyar, R P. BbandnrJ, B.C. Chakraborty, A K

•Nominated by the Central Government

35

Chawla.B.L. Das Gupta. S. K. Tags din an, V. Kri"hnan,N.C. Kumbhat, Ashok •*Kuruvilla,O.V. MalegamjY.H. Malik, P. K. Nair.P.A. Parikh,Anl]M. Prabhakaran, S. Rajaraman, V. "Ranxanujam, G. •Ramchandam, P.H. *Ran"a3R.P. Roy Chowdhury, A. Shah, P. N. Seetharamaiahj D. Scth,R. K. Singhij Jaisingh Srinivasan, N. •Talavlikar, S.H. Vasa,H.V. Verdia.B. S.

New Delhi Calcutta Madras MadrflB Madras New Delhi Bombay Calcutta Bombay Bombay Cochin New Delhi Madras New Delhi New Delhi Calcutta Bombay Hyderabad Kan pur Calcutta Madras Poona Ahmedabad Bombay

•Nominated by the Central Government.

APPENDIX II

(Ref : Para I/l of the Report)

MEMBERS OF THE VARIOUS COMMITTEES

(a; STANDING COMMITTEES

Executive Committee :

Shn B. R. Maheawan, President (Ex-offlcio) Shn B. L. Kabra, Vice-President (Ex-officio) ShnS. G.Argede Shn A. K. Chakraborty Shri R. K. Seth

Examination Committee*

Shri B. R. Mahes wan. President (Ex-officio) Shn B. L. Kabra, Vice-President (Ex-offlcio) Shii Ashok Kumbhat Shri P. N. Shah ShnN. Snmvasan

Disciplinary Committee! Shri B.R. Maheswarij President (Ex-officio) Shri B. L. Kabra, Vi ce-Prcsident (Ex-offlcio) ShnN. C.Krishnan Shri P. K. Malhk Shri P. H. Ramchandani

(b) NON-STANDING COMMITTEES

Researeh Committee: Shri Y. H Malegam, Chairman Shri P. N. Shah, Vice-Chairman Shri B. R. Maheswari,President (Ex-offlcio) Shri B. C. Bhandan Shn B L. Chawla Shn M,- Sundararaman "| ShnV.N Raiji >Co-opted members Shn P. M. Nanelvala J

Post-Graduate Course Committee:

Shri V. Rajaraman, Chairman Shn P. A. Nair, Vice-Chairman Shn B. L. Kabra, Vicc-Pre^dent (Ex-tfflcio) Shri S. K. Das Gupta Shri V, Jagadisan Shn M. P. Chitale| \Co-opted members Shri K P, Bhargava /

Professional Development Committee! Shri Ami M. Pankh, Chairman S..inD. Seetharamaiah, Vice-Chairman Sbn B. R. Manes wan, President (Ex-offlcio)J Shn S. Prabhakaran Shn B. S. Verdia Shn N. N. Pai "1 Co-opted members -Siin S. N. Dcsai /

Taxation Committee;

Shn V. Jagadisan, Chairman Shn P. A. Nairj Vice-Chairman Shri B. L. Kabra, Vice-president (Ex-offlcio) ShriD. Seetharamaiah Shn J. Gopalakrishnan \Co-opted members Shri Sukumar Bhattacharya f

Board of Studie*

Shri H. V. Vasa, Chairman Shn B. C. Bhandan, Vice-Chairman Shri B. L. Kabra, Vice-Prcsident (Ex-offlcio) Shri A. Hoy Chowdhury Shn B. Bakthavatsaju Naldu "1 Co-opte m Shn S. T. Padh /

Employment Conunltte"i

Shn B. S, Verdia, Chairman Shri Ashok Kumbhat, Vice-Chairman Shn B. L. Kabra, Vice-President (Ex-ofBao) Shn J. Singhl Shri V. Rajaraman Shri S. H, Talavlikar

J2xpert Advisory Committee:

Shn P. A. Nair, Chairman Shn Anil M. Pankh, Vice-Chairman Shn B.R.M4heswari, President (Ex-officio)] Shri P. K. Mallik Shri A. Roy Chowdhury Shri Raghu Nath Ral "1 Co-opeted members Shri C K. Hazari /

Company Law Commltteei Shri J. Sin^hi, Chairman Shri S. Prabhakaran, Vice-Chairman Shn B R. Ataheswan, President (Ex-officio) Shn B. L. Chawla SnnK Gancsan \Co-opted members Shri N. V. Iyer

/

University Liaison Committed Shri A. Roy Chowdhury, Chairman Shri R. K. Seth, Vice-Chairman

35

Shn B. R. Maheswari,President (Ex-qflicio) J Shri A. K Chakraborty Shri S. K. Da:, Gupta Shri S. V. Ghatalia "ICo-opted members Shri A. K. Nandy /

General Purpose* Committed

Shn B. R. M,aheswan, Chairman Shri B. L. Kabra, Vice-chairman Shri S. G. Argadc Shri A. K. Chakraborty Sim R. K. Seth

Editorial Board

Shri B. R. Maheswari, Editor-in-Chief Shri B. L. Kabra, Vice-President Shri B. L. Chawla Shri V. Rajaraman

Review Committee for Accounting Education!

Shn B R. Maheswari, Chairman Shn B.L Kabra,Vice-Chairman Shri B C Bhandari ShnV Jagadisan Shri V. Rajaraman ShdR.K Seth Shn S K. Gupta *) Shri P. M. Nanclvala 1 Shn H M. Damania \ Co-opted members Shri Bansi S. Mehta j

•Ethical Standard* Committee: Shn B R. Mahc-warij Chairman Shri B.L. Kflbra, Vice-chairman ShriN. C Knshnan ShnP K Mallik Sbri P. H Ramchandani

Accounting Standards Board:

,Shri N. C. Knshnan, Chairman Shn P. N Shah, Vice-Chairman ShnB L. Kabra Shn B. R. Mahcswan ShriY.H Malegam ShnP.K.MalDk Shn S V. Ghaiaha 1 Shn S. A. Muraliprasad L Co-opied member* Shn P. M. Nanclvala f Shn A B.Tandan J

Conference Committee)

ShnB R. Maheswari,Chairman Shn B.L Kabra, Vice-Chairman Shr] V Jagadisan "J Shn N. C. Knshnan I Shrj Ashok Kumbhat £• Council members from Southern Regi on SliriS Prabhakaran 1 Shn D Seetharamaiah J Shri N. Srmivasan Shri G. Satyanarayana, Chairman, SIRC Shri G. N. Anantha Acharya, Sectretary, SIRC

APPENDIX III

(Ref • Para III/4 of the Report)

Amount received Name of donors

Rs.

1. ShnJ. S.Umngar,Ahmedabad . . 2 M/s. National Underwear C^.,Bombay 3 M/s. Nltex Sales Corpn., Bombay 4- M/s. Shreyas Selling Agency, Bombay 5. M/s. Hindustan Selling Agency, Bombay 6. M/B. K. S. G, Subramanyam &Co., Coimbatore 7. Master Parcsh Srivastava, Delhi . . .

Si 00 500 00 500 00 500 00 500 00 501-oo 24'OO 17 00 8. M i ss S h a l im S r i v a s t a v a, D e l hi . . ..

Rs. 2593'00 TOTAL

APPENDIX IV

CRef. Para III/7 of the Report)

M.A,C. EXAMINATION IN MAY 1976 AND NOVEMBER 1976-

November 1976

Mav 1976

6

17 Total number of candidates appeared in Both Groups

1

7 Total number of candidates passed in Both Groups

—

y. Passed in Group I . . . . . ..

1

1

Passed in Group II . . . ..

19-

18

Total number of candidates appeared in Group I .

8'

6

Total number of candidates passed in Group I

7 Total number of candidates appeared in Group II

5

5

3

Total number of candidates passed in Grop II

Prize Winners

November 1976

May 1 1976

1 TheR.RajagopalanPnzeforthebestcandJdatepastingthc N. VenkitesWa Muran Lai examination at onesittjig. Tan Bansal

2. The Tulsiram Devidayal Memorial Prize for the best — Murari Lai Ban-

, sal candidate securing the highest number of marks m Group I amongst the candidates passing the examination in both groups at one sitting.

. The late K Narayanswamy Prize for the best candidate N Ver,kne- S Ramanu,am

secunn h hest marks m Group II amongst the can- waran didates passing the examination in both groups at one sitting

r

37

APPENDIX V

(Ref- Para V/i of the Report)

NUMBER OF MEMBERS AS ON 1ST APRIL, 1976 & 1ST APRIL, 1977.

Total

1st April 1977

1st April 1976

1977

1976

bellows:

0)

. .

4189 4600

(ji) E n g a g ed in o t h er o c c u p a t i on in a d d i t i on

to p r a c t i ce

. . ..

748

894

(ill) Not in practice

4937 396

5494 488

5982

5333

Associates :

(1) Soley in p r a c t i ce . . ..

4242

4130

( i i) E n g a g ed in o t h er o c c u p a t i on In a d d i t i on

to p r a c t i ce 4 .

2162

1823

(ni) Not in practice"! . [ .

6065 6083 11430 12148

6292 5138

GRAND TOTAL .

16763 18130 16763 18130

APPENDIX VI

(Ref • Para V/8 of the Report)

NAMES OF MEMBERS WHO DIED DURING THE YEAR 1976-77

) Name

Membcrshij Number

SI. No.

2

1

3

1.

129

2.

198

2 40

3-

321

4- 5. 449 6 01

6.

721

1- 8. 824

843

9-

1 0.

869 1020

1 1.

1126

1 2.

1 3. 1227

1265

T4.

1 5.

1 6.

Kangayam Venkatanarayanaiyer Gopalaiyer Nariman Dadabhoy Adenwalla Kmhnaswamy Rajaram Bigharnbcr Nath Chaturvedi DaraNasscrwanji Dastur Anant Vcnktesh Deshpande Dharam Parkash Khosla S. Alagu Sundaram Praftilla Kumar Mukherji Dhararn Dev Kapur Susil Kumar Gangopadhyay IQbalNathMalhotra Ramamurti Halasya Sundaram Ram Nath Gupta Rutton Dinshaw Shroff Rathindra Nath BaBU K. Narayana Iyer

1345 1448 1564

17-

t

3

3

1631

18.

1730

*9-

2 0. 1859

21

1914 2097

22 .*

                  S  Venkatraman
                  Sambhu Nath Dc
                  Badrinath Mehi a
                  Hem Chandra Snvastava
                  Harinarayan Murlidhar Jhavar
23-    2141       Dattatray Keshav Ra)arth]
2 4.   2498       Morcshwar  Vinayuk  Godbole
2 5.   2517       Harbans  Lai Khaima
26     2966       T  N  Manjckavclu
27     3023       Duwuri  Vcnkata Ratna Sastry
2 8.   3028       Uday  Shadkar  Sarkar
2 9.   3648       Joy  Deb Daw
30     3808       Phcroz Minocher Ardeshir Mody
3*-    3905       N.  Sadasivan
3 2.   4633       Shailesh  C^i martial  Shah
33     5132       Chakkirala  Snmvasulu
34.    5360       N  Ramaiwami
35-    5419       V. S  Vcnkataraman
36.    5661       B  Suryanarayan  Mutthy
37.    6597       V  Arumugam
38     6882       K.  Sivaramakribhnan-
39-    6S96       Nath  MullSIughania
4 0.   8056       S  Ramamrutham
4 1.   R194       Kn t.hna Arjun Ai yar
42     9080       Pradyotc Narayan Ghoth
43    10324       S  N  Ramaswamy
44-   11470       PAshori Lai Anand
45    13948       Dinubhai Himatlal Shah
46    15658       Narendra Kumar Jai n
47-   16805       SnnivasRamarao PHI
48.   17R80       Haresh  Panjwani

APPENDIX VH

(Eef: Para V/9 of t he Report)

DISCIPLINARY ACTION AGAINST MEMBERS

(i) Failure to communicate with the previous auditor.—A member was found guilty of professional misconduct for failure to comply with the requirements of communication under Clause (8) of Part I of the First Schedule to the Chartered Accountants Act, 1949 which was required to be Kent to the previous auditor before accepting the audit. Although he had hent two letters to the previous auditor under certificate of posting ho did not have any positive proof to indicate that these letters were received by the previous auditor The Council under Section 21(4), after hearing the member, administered a reprimand to him.

(li) Failure to carry out a proper audit —A member was found guilty of pro- fessional misconduct under Clauses (7), (8) & (9) of Part I of the Second Sche- dule, in that he had checked the cash book totalg but wot the bank column totals, had verified all the transactions in the bank columns but not the contra-entries, had taken the casting onlv of personal ledger and that too not of all accounts, had resorted to test check only when there was no system of internal check, had not seen the pay-in-slips, had not checked the bank reconciliation statements for all

39

the months. The Council had recommended to the High Court that the respon- dent be reprimanded. The High Court accepting the raiding of the Council administered a reprimand to him.

(m) Failure to detect fraud.—A member was found guilty of professional mis- conduct under Clauses (7), (8) & (9) of Part I of the Second Schedule for having failed to detect a fraud committed bv the Accountant of a canteen which could have been detected if he had checked the castings of the cash books and also checked the contra-entnes of the bank and cash columns of the cash book. The Council had recommended to the High Court that the member be reprimanded. The High Court confirmed the finding of the Council and accepted the recommen- dation regarding the penalty.

(IV) Issue of circular using other descriptions in addition to the designation of Chartered Accountant.—A member was found guilty of professional misconduct under Clause d) of Part II oX the Second Schedule for violation of Section 7 of the Act for having issued a confidential and private circular to clients, where in addition to describing himself as "Chartered Accountant" he dlso described him- self as "Investments Consultant and Public Accountant, Bombay" By this circular he introduced himself to the public and private Limited companies which were accepting fixed deposits and loans through him The Council had recommended¹ to the High Court removal from membership of the Institute for a period of (t months The High Court accepted the recommended and directed the removal

(v) Allowing articled clerk to engage m other employment.—-A member was found guilty of professional misconduct within the meaning of Section 22 of the Act for having allowed his articled clerk to engage himself in other employment during the period of his articles without taking prior permission of the Council as required, under Regulation 36 of the Chartered Accountants Regulations, 1964, The Council had recommended to the 'High Court that the member be repriman- ded. On a consideration of the entire material on record the High Court was unable to agree with the finding of the Council that the Chartered Accountant was aware of the employment of the articled clerk during the period of his articles without prior permission of the Council. The reference was accordingly dis- posed of.

(vi) Issue of misleading consumption certificate for Import Licence—A mem- ber was found guilty of professional misconduct under Clauses (7) & (8) of Part I of the Second Schedule for having issued a misleading consumption certificate without proper scrutiny of the records of consumption maintained bv the Unit resulting in the issue of licence of a higher value for which the Unit was not entitled The examination done was so restricted that he could not have obtained the information necessary to warrant the expression of an opinion The Council had recommended to the High Court that the member be reprimanded The High Court accepted both the finding and the recommendation of t he Council.

(vii) Failure to point out in the audit report wrona and misleadina entries- and omission in the accounts—A member was found guilty of professional mis- conduct under Clause (7) of Part I of the Second Schedule m having failed to point out in his audit report wrong and misleading entries ("even imaginary- figures) and omission in respect of examination fee, caution money fund, reserve fund, etc m the receipts and expenditure statement of an educaUon.il institution. The member claimed to have Issued a correction slip later on, which had r-vident.lv not reached the institution and consequently the grant was withheld He could not produce a"v proof of having sent the correction slip The Council had re- commended to the High Court removal of the name of tho Member from mem- bership of the Institute for a period of 3 months The High Court accepted both the finding and the recommendation of the Council

(IX) Issue of incorrect certificate of circulation of periodical.—A member was found guilty of professional misconduct under Clause (8) of Part I of the Second Schedule to the Chartered Accountants Act, 1949 in having issued circulation •certificates called Incoming Certificates in respect of two publications without any qualification m disregard of the regulations 01 the A.B.C. Ltd. prescribing the manner in which the audit should be conducted. The charge that the out- standings from the agents of the publishers for a period of more than three months "had not been adjusted from the net paid sales was substantiated In view of the Interpolation of the entries In the books and In the absence of documents to sup- port the receipt of moneys from "the Agents. The Council held that the member ought to have called for further information and satisfied himself before ex- pressing an opinion, The High Court agreed with the finding of the Council and accepting the recommendation of the Council, administered a reprimand to the member

APPENDIX Vtti

(Ref. ParafcVI/io of the Report)

NUMBER OF STUDENTS ENROLLED DURING THEYEAR 1976-77

INTERMEDIATE

FINAL

Total

Old

New

Old

New Total

I

II

I

I

II

II

Number of candidates who were on RoLl on 1st

304 5582

4676 7016 11692

April, 1976

5278

5234

4930

304

3017 3017

1584

Enrolled during the year 1976-77

1433

1433

5726 5726 1584

8251

1737

TOTAL

4676

6514

12742 17418 6862

8599

1737

3201

3265

304

3182

Number of students who completed tuition

3246

19

15

4094 4398

5050

1722

1718

8648 13020

BALANCE .

3616

5334

4372

3332

*

4 2

APPENDIX IX

(Ref: Para VII/i of the Report)

PARTICULARS OF EXAMINATIONS

No. of candidates No. of candidates Percentage

passed

appeared

T H E

2108 4564

ENTRANCE EXAMINATION May 1976 November 1976

21 44 32 63

451 1439

SYLLABUS)

1187 496

INTERMEDIATE EXAMINATION (OLD May 1976 November 1976 . . ..

4781 3338

G A Z E T T E

24 83 15 65

O F SYLLABUS)

I . ..

2310 392O

INTERMEDIATE EXAMINATION (NEW May 1976 . November 1976

522 825

22 59 23 42

N D

I

A

FINAL EXAMINATION

(OLD SYLLABUS)

Percen- tage

E X T R A O R D

I

No. of Percen- No. of No of candi- tage cand:- candi- dates dates dates passed appear- passed

No. of candi- dates appear- ed in

Group I only

No of Percen- No of Percen- [No of Percen- candi- tage candj- tage candi- tage dates dates dates passed passed passed in in in both Group I Group II Groups only only

ed in Group II only

No. of candi- dates appear- ed in both Groups

N A R Y

2689

1871 297 IS 87 209 11 17 345 18 44

477 17 74 1500 464 30 93 May 1976

2616

1895 212 11 18 94 4-96 459 24 22

November 1976

P A H T

352 13 46 1547 469 30 32

I I I

FINAL EXAMINATION

—

(NEW SYLLABUS)

S E C

.

November 1976 14 4 2857 2 14 29 2 14 29 3 2 66 67

4

45

APPENDIX X

(Rcf. Para VII/2 of the Report)

PRIZES AND CERTIFICATES OF MERIT

FINAL EXAMINATION

Beat student of the year 1976

R. N. Vijaya Simha —awarded the following prizes:

G. P. Kapadia (First president) Gold Medal; The Ramachaudra Singhi Prize for the beat candidate; U. C Majumdar Prize for the bes,t paper on Company Law; G. Baflu Foundation award for the best student of the year 1976; The N. N. Doss prize for the best student in the Accountancy- Group of thew year, 1976;

Certificate of Men:—First Rank

INTERMEDIATE EXAMINATION

Best student of the year 1976

Vinod Kumar Jain —'awarded the followin g prizes:

G. P. Kapadia (First President) Silver ^Medal, Suri Memorial Fund Award for the best student of the year 1976; Certificate of Merit—First Rank.

FINAL EXAMINATION

November 1976

May 1976

Bharfctkumar C. Sha 1. G. P. Kapadia (First Presidei t) Gold Medal . 2, Sir Shapoorji Billimona Prize (Value Rs. 2co/-)

T. Veernbathran" for best paper on Accounrancy.

R. N. Vijaya Simha

Gopi Krishna

Mundhra'j

3. R. V. K. Umarjee Prize for the best paper on Mayan k Jain

Jose J. Mulackal Cost Accounting.

4. A.F. Feiguson Cash Prize of Re. 2C0/- for

S. Sridhnran the best nuner on Auditing

Atl'ckKvmar

Gupta

S. Srldharan 5. N. M. Shah Prize (Value RE. 2Q0/-) for th e M,i>s K. Swarnalutha

best paper on Taxation

6- Sun Memorial Furd Award for the best

R. J Desai

Jiten dra B. Sanghavi

paper on Commercial Laws & Other Direct Taxes Acts.

7. T h e U. C Mw)umdnr Prize fcrtj-ebeitpcpei • R. N. Vijtya Simha R. N. Roy

on Company Law

Mayan k Jain

M S. Vidya'.agar 8, The Venkatachalam Mohan Ca^h Prize of Rs. 100/- for the best paper on Economics 9. R. Sivabhogam Prize to the best lady

Miss K. R. Uma

Miss Bhavna B.

candidate

10, Ranichat drj Sir pi" 1 Pii7c to t} e best

Shah

R. N Vjjaya Simha

candidate

BharatkuniDr C. Shah

11. N. M,. DUSB Pn?e for the best tttidei t m the R. N. Vijaya Simha

Accountancy Group of the year 1976

12. G. Busu Fourddticui uwurd for the best stu- R. N. Vijaya Simha

dent of the year 1976

13. Certificate of Ment;

Bharntkumar C. 1st Rank.

. . ..

R. N. Vijuyn Simha

Shah

IlndRank

Mil"! Bhavna B.

Shall

Dilip Gobmd Jhangiani

Mayan k Jain &

IIIrdRank

Subhash Chandra

Lai F. Pardasani

Khcna

May 1976

November 1976

INTERMEDIATE EXAMINATION

i.  G. P. Kapadia (First President) Silver Medal Ratan Lai Jain   Vinod Kumar Tain
                                             (Old  Syllabus)      (New Syllabus)
a.  Sun  Memorial  Fund  Award  for  the  best                    Vmod Kumar  Jain
   student of the year 1976                                      (New  Syllabus)
3.  Certificate  of Merit:
   (OLD  SYLLABUS)
   1st Rank                                  Ratan  Lai Jain     V. W. Ambekar
   IlndRank                                  Swaptm  Kumar        K. D. Kapasi
                                              Dey
  IIIrdRank                                   Yogesh J.           S. K. Jauhari
                                              Sutarwala
   (NEW SYLLABUS)
   1st Rank                                  Anil J.  Sangani     Vinod Kumar  Jain
   IlndRank                                  R.  Snnivasan        Pen  Satyanacayan*
                                                                   Aiurrny
   TIIrdRank                                 Ajay Bahl           Raien  Manilal
                                                                   Shah
                 FINAL  EXAMINATION         (NEW     SYLLABUS)
   Certificate of Merit;
   let Rank"                                                    K. K. Maheahwari

STATEMENT OF ACCOUNTS

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

BALANCE SHEET AS AT 31st MARCH, 1977

31-3-1976

31-3-1977

Rs.

Rs. R s.

Rs. Rs.

Rs.

FUNDS & LIABILITIES

I C A P I T AL RESERVE

alance: 1-4-1976 . . ..

60,79,047

56,29=359 4,49,688 /idd: (1) Entrance Fee allocated

4,95.568

(11) Donation by Siaghi Fonndarion t o- wards part of t he cost of construction of auditorium of Calcutta Building

45>°°°

(111; Contribution by Southern India Silver Jubilee Committee for construction of Annexe Building, Madias

1,24,850

6,65,418

60,79,047

67.44,465

II G E N E R AL RESERVE

{—>2,78,22I

C—>5,79,9°2 Balance' 1-4-1976 . . ..

Add: Surplus as per Income & Expenditure

3,01,681

Account

11,33,556

(—)2,78,22I

I I I. E A R M A R K ED F U N DS . .

10,05,358

8,55,335 11,71,643

(Schedule—'A')

IV. L I A B I L I T I ES

(a) Fees received 3 n advance

20,57,298

31,24,015

(b'i Creditors for expense*

5,64,752

7,85,635

8,30,783 (el Other Liabilities . . ..

11,67,090

34.52,833

50,76,740

TOTAL

1,02,59,017

1,38,48;* 83

"I

4 6

P R O P E R TY & ASSETS

Ra.

Rs.

31 -3-1977 Rs.

Rs.

31-3-1976 Ra.

I. F I X ED A S S E TS ( S c h e d u l e ' s ')

42,iS,9O3

49,77,275

II. I N V E S T M E N TS ( AT C O S T)

(a> Fixed Deposit with Banks . . .. (b) Government Securities J)

34)88,795 2,506

21,32,749 2,506

T H E

21,35,255

34,91=301

HI. EARMARKED INVESTMENTS

. ..

11,71,643

9P5,358 ( S c h e d u le < C ') I V. C U R R E NT A S S E TS

( a) P u b l i c a t i o n s, S t u d> M a t e r i al & S t a t i o n e ry

( at c o s tj

. . ..

G A Z E T T E

7,3i56g3 4,86,758

6,77,275 4,46,988 ( bj A m o u n ts R e c e i v a b le . . ( c; A d v a n c es & P i e - p a y m e n ts

O F CO A d v a n c es to s t a ff . . ..

I

00 L o an S c h o l a r s h i ps to S t u d e n ts ( u i) O t h e rs

. . ..

-

3)25,95! 2,60,347 1,76,600

3.50,430 2,01,705 3,76,076

N D

I

A ( d) C a sh & B a nk b a l a n c es . . ..

7,62,898 22,26,625

9,28,211 9,47,027

- 42=07,964

29,99 501

1,38,48,183

1 O2,59,°I7 TOTAL

NOTE :

E X T R A O R D

I 1. These statements do not incorporate the accounts of some of the Branches of R e g n al Councls, Students Associations and their branches from whom accounts were not rece ved Consequently, a sum. of Rs 24,798 (as at 31-3-1976 Rs 57,678; being the fees and grants-m-aid to them has been included against "Others" without allocation on expenditure side of Income & Expenditure account and a sum of Rs 48 241 (as at 31-3-1976 Rs 85,381) being the net balance m respect of the said branches of Regional Councils, Students Associat-ort. and their branches has been included under the head "Other Liabilities "

N A B Y

2 The accounts of two Reg.onal Councils, six branches of Regional Councils, two Students Assocations and one branch of Students Assocat'cn

have been incorporated subject to audit.

P A

I 3 Claims not acknowledged as debts estimated at Rs 8,000 (Rs. 6,000) 4. Previous year figures have heen rearranged wherever considered necessary to make them comparable.

$ T

i

n P. S. GOPALAKRISHNAN,

B K- MAHESWAKI.

—

Secretary

S E C

.

S. R. SIRCAR, Assistant Secretary

Prudent. B L KABRA, Vice-Pr.sident.

4 September, 1977-

AtJDITORS* REPORT

We have aud'ted the Balance Sheet as at 31st March, 1977 of the Institute of Chartered Accountants of India aad also the annexed Income & Ex- penditure Account for the year ended onthatdateincjrporatLng the Assets & Liabilities of Regional Councils, Students AsscciaUcus and Branches and report that:—

1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit :

2. the Balance Sheet and the Income and Expenditure Account dealt with by the report are in agreement with the books -of Account^ 3. in our opin'on the accounts are maintained in conformity with the requirement of the Chartered Accountants Act, 1949, and 4- in our opin on and to the best of our information and according to the explanations given to us the statements together with the notes thereon ^ the schedules attached and annexures thereto, give a true and fair view:

(ij in the case of the Balance Sheet, of the state of affairs, as on 31st March, 1977 and (n; in the case of the Income and Expenditure Account of the surplus for the year ended on that date

NewDelhj,

P R MEHRA. M. R. VEKKKWAMAN,

Dated, the 15th September, 1977.

Chartrered Accountanrs.

5

ANWKOSE TO BALANCE SHEET SCHEDULE (A)

THE INSTITUTfl OF CHARTERED ACCOUNTANTS OF INDIA,

NEW DELHI

SCHEDULE OF EARMARKED FUNDS AS ON 31ST MARCH, 1977

31-3-1976

3 I - 3 - I 9 77

Rs. Rs.

Rs. Rs.

PARTICULARS

(a) Research Fund

Balance 1-4-76

Additions during the year

5>8£9°5 44,800

5)85)9°5

6)3O,7°5

(b) Medals & Prize* Fund

1,22,471

II.5OO

Balance : 1-4-76 Addition? during the year

1)30,982 22,343

Add : Income earned during the year

1*53)325 10,867

1,33*971 8,572 •

Lttf ; Cost of Medals & Prizes Awarded

"-t2)543 11.561

1,64,192 9"i55

1,30,982-

ii5S,°37

(e) Scientific Research Account

2,26,048 2si93

B a l a n ce : 1-4-76' . . .. A d d i t i o ns d u r i ng t he y e ar Add : I n c o me e a r n ed d u r i ng t he year

60,001 1,62,101 3)94

2,26,048

2,28,641

(d) Social Co"t Benefit Analysis Fund

59J5°O

Donations received during the year Add : Income from Investment durin g the

y e ar . . . ..

2,090

Less; E x p e n d i t u re d u r i ng t he year

51,801

61,590 9,789

(e) 7th Conference of Chartered Accoun-

tant* Scholarship Fund

27.326

2,6lO

26,072 1,254 Balance * 1-4-76 Add \ Income earned during the year

fl7,32<5-

29)936

(f) 7th Conference of Chartered Accoun-

tant* Surplus Fund

Amount transferred from Conference Account

during the year

34)888 894

Add 1 Jn come earn ed during the year

35,782

(g) Southern India Chartered Accountants

Student! Association Hostel Fund

9.55B 459 Balance : 1-4-76 Add : Income earnedMunng the year .

T0j0i7 956

Iio,oi7

10,973

(h) library Books Fund

7 20 B a l a n ce : 1-4-76 . . . .. A d d i t i o ns d u r i ng t he y e ar

7 20 1,663 2,383

49

3 "3-t977

31-3-1976 Rs.

Rs.

Rs.

PARTICULARS

R8-

South Gujarat Chartered Accountants

(0

Study Circle Fund

Balance • 1-4-76 Add Income earned during the year

525

5,000 512

'5)5'2

6,037

(j) Seminar Fund B a l a n ce : 1-4-76 . . .. Add: I n c o me e a r n ed d u r i ng t he y e ar

17.348 1,500

18,848 1,500

1^,848

20,348

T O T AL

11,71,643

10,05,358

P. S GOPALAKRISHNAN,

P. R. MEHRAJ M.R. VENKATARAMAN,

B. R. MAHLiWARI, President,

Secretary.

Chartered Accountants.

S. R SIRCAR,

B. L. KABRA,

Vice-President.

Assistant Secretary

^

O

ANNEXOEE TO BALANCE SHEET SCHEDULE (B)

THE I N S T I T U rE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

FIXED ASSETS AS AT 31ST MARCH, W7

Cost as at Adjustments Additiors

1-4-1976 relating to dunrg t ie

Depieailici: as at

ASSETS

C wt as at 3I-3-I977

Ecck Value as £t 3I-3-I976

BctkVahie as at 5I-3-I977

Branches year

31-3-1977

T H E

Rs.

R E.

Rs.

Rs.

Rs. Rs. Rs.

1. LAND AND BUILDINGS

G A Z E T T E

1 • 1 Free-hold Land

O F

I M a d r as . . .. C a l c u t ta

1,12,5=0 1,14,404

1,12,500 r,i4^04

1,12,500 1,14,404

I,I2J5OO 1,14,404

N D

I

i*2 Leasehold Land

A

N ew D e l t -j . . . ..

2,159

2,159

2,159

2,159

1. 3 (Building including land)

3,20,851

3,12,830 B o m b ay . . . ..

r,38,34S

4,51,178

4,51,178

1-4 Buildings

E X T R A O R D

I

14.96,224 2,52,028

18,71,519 3,84,869

N A R Y N ew D e l hi . . . . M a d r as . . . .. M a d r as ( A n r e i e) . . .. C a l c u t ta K a n p ur . . . .

2,15,363 2,18,833

14,58,^18 2^5,727 2,46,854 7^43,984 2>i3>372

2,53,183

2,15,363 5.4A69I

2,26,957

4,12,701 1,39,142 6,329 19,070 13,585

18,71,519 3,84,869 2,53,183 7,63,054 2,26,957

2. LLECTRIC INSTALLATIONS & FITTINGS

P A R T

3,34,76i

2,85,469

5,85,742 10,125

3,i°,398 2-i New Delhi 2*2 Regiooa] Councils, Studetts Asfcciaiicif ai d

I I I

12,820

Branches . . ..

33,866 .. 3,8<53

15.249

37,729

—

D I T I O N I NG I N S T A L L A T I ON

S E C

i,9°>r47

3,64,3to 1,61,625 3 • 1 New Delhi

5^5>925

5>25>925

⁴

. LIFT

83,981

1,57,883

4-i N ew D e l hi . . . ..

93,312

73.902

1,57=883

FURNITURE & FIXTURES

5-

2,12 6'9 44,640 5 'i New Delhi 5-2 Madras

4,51,111 6,302

2.29x63 5,4O3

7,248 44,197

2,45,680 5,859

4.5",359 5O,499

5*3 Regional Councils, Students Associations

4,31,890

50,258

and Branches

17,243

2,4-,447

1,84,443

2,07.535

OFFICE EQUIPMENT

. . . . ..

6-1 N ew D e l hi 6 2 M a d r as 6. 3 R e g i o n al C o u n c i l s, S t u d e n ts A s s o c i a t i o ns a nd

B r a n c h es . . ..

MOTOR CAR

7

7-1 New Delhi

LIBRARY BOOKS

T O T AL

P. R MEHRA, M. R. VENKATARAMAN,

B. R MAKESWARI,

P. S. GOP"JUOUSHNAN,

B, L KABRA,

S. R. SIRCAR, Assistant Secretary.

ANNEXURE TO BALANCE SHEET SCHEDULE (C)

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

SCHEDULE OK EARMARKED FUND INVESTMENTS AS ON 31ST MARCH, 1977

PARTICULARS

31-3-19"7 6

31-3-1977 Ri.

RK.

Ri. Rs.

(a)

6,25,905 4,800

Research Fund (Fixed Deposit with Ear ks) Bark balance

6,30,705

5.85.905

(b)

59,300

69,300

Medals and Prizes Fund (1) Fixed Deposit with Banks Hi) Govt. Securities & National Saving

Certificates

80,025

68,024

1

(111) Rank Balance

1,49^325 5,712

,27,224 3.75B

1,30,982

i.55-°37

(c)

1, 22,102

2,24,654

Scientific Research Account (Fixed Deposit with Bat ks. Bark balance

3,946

3,987

1,36,480'

2,28,641

Social Cost Benefit Analysis

(Fixed Deposit with Bark) Bank balance

49,500 2,301

51,801

(e ) 7th Conference of Chartered Accountants

Scholarship Fund

26,100 1,226 (Fixed Deposit with Bark) Bank balance

26,100 3^36

27,326

29,93<5

7th Conference of Chartered Accountants

Surplus Fund

- 355782

(Fixed Deposit with Bark) Southern India Chartered Accountants

Students Association Hostel Fund

(Fixed Deposit with Bark) Bank balance

9.56o 457

9,560 i,4T3

10,017

10,973

(h)

72O>

2,383

Library Books Fund (Fixed Deposit with Bank)

South Gujarat Chartered Accountants

(0

Study Circle Fund

5,000 1,037

5,ooo 512 (Fixed Deposit with Bank) Bank balance

6,037

5,512

(0

15,000

3.848 Seminar Fund (Fixed Deposit with Bark) Batik balance

15,000 5,348

18,848

20,348

TOTAL

9,05,358

11,71,643

B. R. MAHESWAKI,

P. S. GOPALAKKISHNAN,

P. R. MEHRA, M.R VHNXATAKAMAN, Chartered Accountants.

President.

Secretary

B. L. KABRA,

S. R. SIRCAR,

Vice-President.

Assistant Secretary.

53

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 3 i iT MARCH, T9 77

T976-77

Rs.

1975-76 Rp.

I. INCOME

(a) Members

(i) Regulatory ard Profcfuoral Devclopmcrr

22,41,198 (As per arriexure A/I)

T,34,CO7

(nj Research (As. per arnexuie A/I)

78,709

SUB-TOTAL

23.lt,9o7

3*, 33,7H

O) Students

51,16,419

59)51.222

(As per Anrexure A'l)

(c) Miscellaneous

5,709

5,743

dj Income from Properly (11) Income from Investment (.excludirgor E"rr ntrked

Funds;

88,214

J385,755

SUB-TOTAL

93,923

i,9iW98

TOTAL

97,66,431 75i3c,249

II. EXPENDITURE

(a) Members

(0 Rcguktory & Profefjiorrl Develiprreit

(As per an exurc A/II) .

(n) Re earch (As per arrexuie A/IIj

24,28,010 i,55=t93

23,18,761 I, •'O,C62

i UB-TOTAL

24,38,823

25,fi3,2C3

(b) Students

(As per An exure A III)

60,49,672

47IKQ,745

SUB-TOTAL

86,32,f75 72,28,568

(c) Surpluf frr tl e year

3,01,681

11.33,556

TOTAL

97,66,431 75,30,249

As per our report nt even djfc

P. S. GoPALAKKISHNAN, B. R MAHESWARI,

P.R. MEHRA, M, R,. VENKATAHAMAN,

Chaitcied Acci)Ui'ttH"fs Secretary. P r n d e r t.

5.R SIRCAR, B. L KABRA,

Assistant Secietarj. Vice-Prcidcr t.

15th September 19-7

-

A

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

ANNEXURE to Income and Expenditure Account for the YEAR ENDED 31ST MARCH 1977

MEMBERS

TOTAL

STUDENTS

Research

Regulatcry&Prcfes- Eiotal Develop]

1976-77 1975-76

19-6-77 1975-76

1975-76

19-5-76 1976-77

1976-77

Rs.

Rs.

R=

Rs.

Rs.

Rs.

Rs.

Rs.

T H E

I. INCOME

: Ail

ANNEXURE

Entrance Fee

79,100

I.

"6,650

""9,100

76,650

28,88,130

2. Membership Fee

28,88,130 18,93,930

18,99,930

,

G A Z E T T E

I I , S GO

11,500

11,800

11,500

3- Post Graduate Course Fee Registration Fee

O F

2,-9 I SJ

2,90,150 2,79,180 4

I

Students Association Fee

57,200

52,530 N D

52,530 24,4" J50

.

5- 6. Coaching Fee

2,90,150 r,3co 2~jC~,Il6

2-,o7,n6

I

24,47,250

A

19^3,513

Examination Fee .

23,00,465

19,03,513 7 8.

23,00,465 4,4-,oi£

Journal & Newsletter

1,"2,53S

6-,568

i,38"O3i 29,169

3,81,269

3,79-45° 38,348

3,15,251

34,507 2,68,181

17,901 2,85,704 9- IO.

57,217 76,615

1,27,03-r

1,39,793

63,178

60,583

66,454

to

I I.

E X T R A O R D Publicatiors . Interest on Im estments Nomination fee for election Central a rd Regional Cour c'l:

34,500

34,500

I

Others . . ..

85,618

2,38,692 1,5^,647

58,6-6

12.

2 25

64,8o4

175

i,79,84i

34,89,-04

74,36.326

22,41,198 1 34,cc7 7S..7C9

TOTAL

95,74.933

51,16,419

59,51,222

N A R Y

ANNEXURE A'II

H. EXPENDITURE

P A R T

24,00,546

ic,?3,i77

Salaries & Staff expenses

I.

i6,24,cco

"4,053

12,46,580 25,15,116 65,030

8,17,063 21,164

13.8C5

I I I 2. Premium for Gratuity

70,789 1,662

42,329

1,537

30,933

—

46,4co 2,81,502

96,732

Printing & Station ery

2,76,359

i;6i,;J9

1 ,"9,627

1,89,183

3,58,096

r,i9=959 1,64,839

Publications

194 14.6S7

35)622

I.33-29I

S E C

.

3-5°,94° 3,69,840

3,19,818

Journal & Newsletter

5,24,962

3>93,S43

irMi4 50,022

l,3t,H9 4- 5-

4

CoachiDg . . " ,

13,21,991

13^1,991

..

Examination

10=77,193 11,83,907

15,37.017

10 77,193 11,83,907

13,37,01-7

Postage Telegrams & Telephones .

6. 7. 8.

2,53^6"

r t

82,940

%ZA So

1,65,113

1,70,427

Rates & Tases

2,47,593 2,62,015

9

81,237

84,598

I,8O,778

1,69,347

10. Repairs & Maintenance

2,53>945 71,65-

32,863

23,^86

Depreciation . ..

i i.

1,20,552

3,30^87 2,93,724

64,9"4 2x9,835

47,771 1,95,870

97,^54

T r a v e l i n g:

12.

(a) Council Members

2,60,799 1,57,657

8,070

17,271

1^1.516

80,288

t.b) Staff & Others

9^,261

99,740

ICf>

2 7,779

1,72,441 35^34

60,421

67,555

Library

28,65?

I?,2I3

1^,213

13-

4,454

24,204

Overseas Relations

23>8S5

2C,iS9

20,189

14-

23,885

i5-

Seminars, Corfererjces etc- (.inclu- ding ICCAP & fth CAPA'fNetJ

5-,SSS <,-)5^22

12,361

Profe*sior al Fees .

i 6.

56,257

..

t

45,227 4C,8c6

(- 15,422 3S,cco

65,487

24,681

1^,257

Elections

2,22,142

2,22,142

4,-32

4,'32

17- 18.

3,c6,224 1,90,822

94,828

Others

669

64,187

2,09,281

2,115

1,25,966

TOTAL

72,28,568 24,28,010 23,18,761

86,32,875

I,2O,C62 60,49,6-2

1,55,193

47,89,745

NOTE: Consequent upon shewing the Inccme &. E>pet chture on

R " c r cb tclivities sepiir'eJy,

the figures of 1975-76 shown under "Members" Lave bee¹¹

suitably rearranged.

P. S. GOPALAKRISHKAN,

P. R MEHRA, M R. VENKATAEAMAN,

Secretary.

Chartered A.ccountarts.

B. R. AtAHESWARI, President.

S R. SlBCAR, Assistant Secretary,

B. L. KABRA, Vice- Prender t.

5 6

APPENDIX

(Reference: Section IX-I of the Report)

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI

ANALYSIS OF EXPENSES ON MEMBERS FOR THE YEAR 1976-7/

1975-76 SJfo.

1976-77

Rs.

Rs.

T H E

18,099

1. f a) N o- of M e m b e rs . . ..

( b) ToiaiExpenditure(*)

16,73° 2,444

G A Z E T T E

146 JJ, T o t ai E x p e n d i t u re p er m e m b er

143

O F

I I I I. R E G U L A T O RY

1,057 (a) Total expenditure (*)

N D

I

(b) Expenditure per member .

• • i>23i 68

63

A

(c) Percentage . . ..

. ' .

. . .. 48%

43%

IV. PROFESSIONAL DEVELOPMENT

1,352 75

E X T R A O R D (a) Total expenditur-X*) (b) Expen diture per member . (c) Percentage

I

i.3?7 83 57%

52%

(*) Rupees in thousands

N A R Y

—• —

P. S. GOPALAKRISHNAN, Secretary.

P A R T

I

U —

S E C

.

4

57

59-

6T

63

65

67

69

71

73

75

77

79

8i

83

85

#7

89

9r

93"

J?'

91

99

1 01

103

105

.107

iC9"

111

PRINTED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD,

NEW DELHI AND PUBLISHED BY'THE CONTROLLER OP PUBLICATIONS, DELHI, 1 9 77