CA IPCC List of Amendments, Standards, Applicable for May 2019

CA IPCC List of Amendments, Standards, Applicable for May 2019 Exams. Due to Change in Companies Act Some Topics of CA IPCC are Changed and Every Student is Confused for “What is Changed” Here we are providing a list of IPCC List of Amendments,Standards, Guidance Notes Applicable for May 2019. Recently We Provide CA IPCC Result Date May 2019 and CA IPCC Question Papers May 2019 and Suggested Answers for Nov 2018 Exams. IPCC May 2019 Exams are Near and All Students Wants Changes and Amendments Applicable for May 2019 Exams and Here we provide list of all applicable amendments, Notifications, Guidance Notes, Accounting Standards etc. You can also Download CA IPCC Exam Time Table for May 2019 Exams from Below. Now you can scroll Down Below and Find CA IPCC List of Amendments,Standards, Applicable for May 2019 Exams.

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CA IPCC List of Amendments,Standards, Applicable for May 2019

Paper 1: CA IPCC Accounting Amendments

Accounting Standards

AS	1:	Disclosure of Accounting Policies
AS	2:	Valuation of Inventories
AS	3:	Cash Flow Statements
AS	7 :	Construction Contracts (Revised 2002)
AS	9:	Revenue Recognition
AS	10 :	Accounting for Fixed Assets
AS	13 :	Accounting for Investments
AS	14 :	Accounting for Amalgamations

Paper 5: Advanced Accounting

Accounting Standards

AS 4 : Contingencies and Events occurring after the Balance Sheet Date
AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in AccountingPolicies
AS 11 : The Effects of Changes in Foreign Exchange Rates (Revised 2003)
AS 12 : Accounting for Government Grants
AS 16 : Borrowing Costs
AS 19 : Leases
AS 20 : Earnings Per Share
AS 26 : Intangible Assets
AS 29 : Provisions, Contingent Liabilities and Contingent Assets.

Common Note for Paper 1 “Accounting” and Paper 5 “Advanced Accounting”

I. Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2019 Examination

II. Applicability of Amendments made by the MCA in the Companies (Accounting Standards) Rules, 2006

Amendments made by MCA on 30.3.2016 in the Companies (Accounting Standards) Rules, 2006 are applicable for May, 2019 examination.

III. Non-Applicability of Ind AS for May, 2019 Examination

The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS have not been made applicable for May, 2019 Examination.

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Paper 2: Business Laws, Ethics and Communication

The Companies Act, 2013: The provisions of Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the business laws, as amended by concerned authority, including significant notifications and circulars issued up to 31st October, 2018, are applicable for May, 2019 examination.

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CA IPCC Tax Amendments Applicable for Nov 2017 Exams

Applicability of the Finance Act, Assessment Year etc. for May, 2019 examination

The provisions of income-tax law, as amended by the Finance Act, 2018 including significant circulars and notifications issued upto 31st October, 2018, are applicable for May, 2019 examination. The relevant assessment year for income-tax is A.Y. 2019-20.

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IPCC Taxation Notes

Paper 6: Auditing and Assurance

I. Standards on Auditing (SAs)

S.No	SA	Title of Standard on Auditing
1	SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
2	SA 210	Agreeing the Terms of Audit Engagements
3	SA 220	Quality Control for Audit of Financial Statements
4	SA 230	Audit Documentation

5	SA 240	The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements
6	SA 250	Consideration of Laws and Regulations in An Audit of Financial Statements
7	SA 260	Communication with Those Charged with Governance
8	SA 265	Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
9	SA 299	Responsibility of Joint Auditors
10	SA 300	Planning an Audit of Financial Statements
11	SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
12	SA 320	Materiality in Planning and Performing an Audit
13	SA 330	The Auditor’s Responses to Assessed Risks
14	SA 402	Audit Considerations Relating to an Entity Using a Service Organization
15	SA 450	Evaluation of Misstatements Identified during the Audits
16	SA 500	Audit Evidence
17	SA 501	Audit Evidence – Specific Considerations for Selected Items
18	SA 505	External Confirmations
19	SA 510	Initial Audit Engagements-Opening Balances
20	SA 520	Analytical Procedures
21	SA 530	Audit Sampling
22	SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
23	SA 550	Related Parties
24	SA 560	Subsequent Events

25	SA 570	Going Concern
26	SA 580	Written Representations
27	SA 600	Using the Work of Another Auditor
28	SA 610 (Revised)	Using the Work of Internal Auditors
29	SA 620	Using the Work of an Auditor’s Expert
30	SA 700	Forming an Opinion and Reporting on Financial Statements
31	SA 705	Modifications to the Opinion in the Independent Auditor’s Report
32	SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
33	SA 710	Comparative Information – Corresponding Figures and Comparative Financial Statements
34	SA 720	The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements

II. Statements

Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143(1) of the Companies Act, 2013).

III. Guidance Notes

Guidance Note on Audit of Inventories.
Guidance Note on Audit of Debtors, Loans and Advances.
Guidance Note on Audit of Investments.
Guidance Note on Audit of Cash and Bank Balances.
Guidance Note on Audit of Liabilities.
Guidance Note on Audit of Revenue.
Guidance Note on Audit of Expenses.
Guidance Note on Reporting under section 143(3)(f) and (h) of the Companies Act, 2013

IV Applicability of the Companies Act, 2013

(i) Students are expected to be updated with the notifications, circulars and other legislative amendments made upto 6 months prior to the examination. For instance, for May, 2019 examination, significant notifications and circulars issued upto 31st October, 2018 would be relevant.

The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 31st October, 2018 will be applicable for May, 2019 Examination. It may be noted that the legislative and other amendments applicable for May 2019 Examination would be given as Academic Update in the Revision Test Paper for May 2019 Examination.

(ii) Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs on 29th March, 2016 is applicable for May, 2019 Examination.

CARO 2016 – Companies Auditor’s Report Order, 2016