This document is a notification from The Institute of Cost Accountants of India, issued on April 19, 2017, and published in the Gazette of India on April 27, 2017. The notification outlines guidelines for members of the Institute in practice, specifically addressing their response to tenders. According to the guidelines, a member shall not respond to tenders for audit and attestation services exclusively reserved for Cost Accountants by statute, unless the tender document prescribes a minimum fee for the assignment or the areas are open to other professionals along with Cost Accountants. These guidelines came into effect on the date of publication in the Gazette of India. The notification was issued by Kaushik Banerjee, Secretary of The Institute of Cost Accountants of India.
Key Entities Referenced
The Institute of Cost Accountants of India: A statutory body established under an Act of Parliament in India, responsible for regulating the profession of cost accountancy.
Cost and Works Accountants Act, 1959: An Act of the Parliament of India that governs the Institute of Cost Accountants of India and the profession of cost accountancy.
Kolkata, West Bengal: City in India, where the notification was issued.
Gazette of India: The official journal of the Government of India, in which government notifications and regulations are published.
Cost Accountants: Professionals who are members of the Institute of Cost Accountants of India and are qualified to perform cost accounting and related services.
Kaushik Banerjee: Secretary of The Institute of Cost Accountants of India
Mayapuri, New Delhi: Location of the Government of India Press
Delhi: Location of Controller of Publications
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EXTRAORDINARY
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PART III—Section 4
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PUBLISHED BY AUTHORITY
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कौिशक बनजN, सिचव
[िवOापन-III/4/असा./37/17]
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
(Statutory body under an Act of Parliament)
NOTIFICATION
Kolkata, the 19th April, 2017
No. CWA/1/2017.—In exercise of the powers conferred on it under clause (1) of Part II of the Second
Schedule of the Cost and Works Accountants Act, 1959, the Council of the Institute of Cost Accountants of India hereby
issues the following guidelines for compliance by the members of the Institute:
2801 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(i) A member of the Institute in practice shall not respond to any tender issued by an organization or user of
professional services in areas of services such as audit and attestation services which are exclusively reserved for Cost
Accountants by a statute. However, such restriction shall not be applicable where minimum fee of the assignment
is prescribed in the tender document itself or where the areas are open to other professionals along with the
Cost Accountants.
(ii) These Guidelines shall come into force on the date of publication in the Gazette of India.
KAUSHIK BANERJEE, Secy.
[ADVT.-III/4/Exty./37/17]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.