CA Akhil Pachori Profile picture
Oct 24, 2022 11 tweets 3 min read Read on X
#ICAI issued advisory for using "CA" or "Chartered Accountant" with caution

A break down on what could be the consequences or what would be the reason for such an advisory

Detailed Thread 🧵 Image
Para 4 of the Advisory says that u can also post personal comments/tweets & you can also use CA or Chartered Accountant in your Bio/Profile Name or wherever you like apart from professional matters Image
Para 5 is the crux of this advisory which advises members to exercise discretion & maintain dignity while posting such comments of personal nature (that are not covered in para 4) Image
It also says that such comments should not be derogatory or violates the dignity of profession or result in negative portrayal of profession

In para 6 they reminded us to keep in mind professional misconduct under First Schedule regarding bringing disrepute to the profession
Now whether u should use the Prefix CA or Chartered Accountant in your Bio

Yes, absolutely, it is your hard-earned degree, and you should be proud to use it.
Whether I can post personal comments while using the CA prefix?

Yes, you are also a human being, u can post personal comments/posts which are not derogatory and does not bring disrepute to the profession as every single member represents the profession
What could be the reason of such an advisory?

Well, all Institutes (be it ICAI, ICSI or ICMAI), they ultimately become answerable for person using prefixes CA/CS/CMA

We get a privilege to use CA/CS/CMA, it will come with a cost, a cost that we are answerable to our Institute
When these institutes receive such Screenshots where such derogatory remarks are being made with CA prefix, they ultimately have to look into it

If you are on SM for loose talks/offensive posts, then it is better to remove such prefix, ICAI won't even receive such SS for action
Not that we've seen them taking action, but yes, they've got power to take action/warning

Simple Logic for posting on Social Media = Post/Comment only what u can accept for yourself if someone else posts such things

Don't get into personal attacks on each other
About Portal issues & Due Dates Extension?

Being an Indian, you have the right to tweet on inefficiencies, but language should be dignified, we all some people go way ahead in criticizing
Institute is ultimately answerable for our actions to People/Government

I will continue to use "CA" prefix & "Chartered Accountant" in bio and will maintain dignity of profession

I would suggest all to continue using CA prefix

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More from @akhilpachori

Aug 27
Audit Trail- Reporting formats (Illustrative)

Reporting in case of 7 situations

A Thread 🧵

#AuditTrail #MCA #ICAIImage
1. When books of accounts are maintained Manually

“Based on our examination of the books of accounts produced before us, the company has maintained manual books of accounts therefore reporting under Rule 11(g) of Companies (Audit and Auditors) Rules, 2014 is not applicable in case of the company”
2. When books of accounts are maintained on accounting Software and Audit Trail provisions are complied –When the Auditor himself has verified the effectiveness of Audit Trail

“Based on our examination, which included test checks, the Company has used accounting softwares for maintaining its books of account for the financial year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the softwares. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with.”
Read 9 tweets
Dec 6, 2023
Every CA is required to complete Unstructured CPE Hours (whether in Practice or in Job)

Here is the process to complete the required CPE Hours for the year 2023 🧵
Image
Step 1: Login to using your credentials. After logging in you will see the below screen.

You can see the CPE hours at Top Right of your screen: cpeapp.icai.org/member/login
Image
Step 2: Go to Submit ULA Online Image
Read 5 tweets
Dec 5, 2023
Since, we know CA Members in Practice are now Reporting Entities as per Notification dated 3rd May, 2023 under the Prevention of Money Laundering Act, 2002

ICAI @theicai has issued Frequently Asked Questions (FAQs) for Members

Some Important FAQ's in this thread below 🧵👇
Image
Who is a Reporting Entity ? Image
Who is a Beneficial Owner? Image
Read 26 tweets
May 1, 2023
Tired of Blocking Spam Callers!!!🚨🚨

🔥📱 #TRAI has finally implemented the much-awaited change in rules for fake calls, promotional calls, and fake/push SMS which will be applicable from today onwards - from May 1, 2023

So what is the matter ??

Let's see in this thread 🧵 Image
👉 Starting from May 1st, Telecom Companies will be required to implement AI to filter spam calls and messages, as directed by TRAI.

👉This is expected to provide much-needed relief to customers who are tired of receiving pesky calls and fake messages.
👉As per the Survey of CNBC, 95% of people who have registered themselves for DnD, still receive Spam Calls Image
Read 9 tweets
Dec 7, 2022
FAQ's on #DigitalRupee

A Thread 🧵
What is CBDC?
How will the #eRUPI work?
Read 12 tweets
Dec 1, 2022
CBDC Pilot project has been launched from Today

What it is?

How does it change the Payment Industry?

How is it Different from UPI?

Interesting Thread Ahead🧵
𝐖𝐡𝐚𝐭 𝐢𝐬 𝐂𝐁𝐃𝐂?

- Digital form of currency notes issued by RBI (e-₹)

- In layman's terms, it is money that don't have physical existence and exists digitally only!

- not much different from banknotes, but being digital it is easier, faster and cheaper
The key design choices to be considered for issuing CBDCs include

- Types (Wholesale/Retail CBDC)
- Models for issuance and management (Direct, Indirect or Hybrid model)
- Form (Token/Account based)
- Instrument Design (Remunerated/Non-remunerated)
- Degree of Anonymity
Read 24 tweets

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