NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)
Please find the text of the Empanelment of Advocates in ICAI notification below –
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Empanelment of Advocates in ICAI
The Institute of Chartered Accountants of India
20th July 2022
|EMPANELMENT OF ADVOCATES IN ICAI|
Brief Background & General Information:
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the overall administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.
The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance, and other stakeholders.
Over a period of time the ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for maintaining highest standards in technical, ethical areas and for sustaining stringent examination and education standards. Since 1949, the profession has grown leaps and bounds in terms of members and student base. The core functions of ICAI are as under: –
- 1. Regulate the profession of Accountancy
- 2. Education and Examination of Chartered Accountancy Course
- 3. Continuing Professional Education of Members
- 4. Conducting Post Qualification Courses
- 5. Formulation of Accounting Standards
- 6. Prescription of Standard Auditing Procedures
- 7. Laying down Ethical Standards
- 8. Monitoring Quality through Peer Review
- 9. Ensuring Standards of performance of Members
- 10. Exercise Disciplinary Jurisdiction
- 11. Financial Reporting Review
- 12. Input on Policy matters to Government
Presently, ICAI has One Hundred Sixty-Six Branches and Five Regional Councils across India besides Forty-Four Chapters abroad and 26 Representative offices across world. The Council of ICAI functions through various standing and non-standing committees. One such non-standing committee is the Legal Directorate of the Institute.
Empanelment of Advocates:
Legal Directorate of the Institute proposes to empanel Advocates/Advocates-on-Record for a period of four years representing ICAI before the Hon’ble Supreme Court/ all High Courts and other Courts of Mumbai, Chennai, Kolkata, Delhi, Kanpur and in various Tribunals/Appellate Authority across India and in other cities and for other advisory services and to empanel Retainer Advocate/(s) at New Delhi. Applications are invited from the eligible and experienced Advocates having experience of more than 5 years of practice in various Courts in Constitutional Law, Corporate law, Civil Law, Criminal Law, Labour Laws, Service Laws, Property Laws or Disciplinary Matters.
Application Form is available at the link https://bit.ly/3IRiaPy on the website of the Institute. Applicants may submit their applications online by using Google Form (which after successful submission will be available in the email box of the applicant from where he may take the final filled in printout) on or before 16th August 2022 followed by sending the duly signed Printout & declarations of the same attaching therewith self-attested copies of all relevant documents so as to reach us latest by 22nd August 2022 to the following address: –
The Chief Legal Advisor,
Legal Directorate, 4th Floor,
The Institute of Chartered Accountants of India,
ICAI Bhawan, P.B No-7100
I. P. Marg, New Delhi-110002
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