In exercise of the powers conferred by subsection 1 of section 22A of the Chartered Accountants Act

## Report on Amendment to Regulations Concerning Accounting Professionals in India **1. Executive Summary:** This report analyzes a notification issued by the Ministry of Corporate Affairs, Government of India, dated June 15, 2021. This notification represents an *amendment* to a previous notification (G.S.R. 835E, dated November 3, 2015) concerning regulations for Chartered Accountants, Cost Accountants, and Company Secretaries. The core purpose of this specific amendment is to update the membership details of a Cost Accountant, specifically replacing the existing entry against serial number 6 in paragraph 1 of the original notification with updated information for Shri CMA Avijit Goswami. The key finding is that the amendment primarily addresses administrative updates rather than substantive policy changes. **2. Introduction:** This report aims to provide a clear and concise overview of a notification issued by the Ministry of Corporate Affairs on June 15, 2021. The notification amends a previous regulation concerning accounting professionals in India, focusing on updating member details. The analysis is based solely on the text provided in the notification itself. **3. Policy Overview:** * **Original Policy Being Amended:** G.S.R. 835E, dated November 3, 2015, issued by the Ministry of Corporate Affairs. * **Core Objective(s) (Inferred):** Based on the notification's reference to the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959, and the Company Secretaries Act, 1980, the original policy likely concerns the regulation and oversight of these accounting professions in India, including appointments to relevant bodies. **4. Background and Rationale:** The amendment appears to be driven by the need to update the records of Cost Accountants. The specific amendment replaces the entry for serial number 6 with updated contact information for Shri CMA Avijit Goswami. This suggests that the original entry was either incorrect, outdated, or that Mr. Goswami's professional details have changed, necessitating a formal update via notification. **5. Key Provisions / Changes:** This notification is an *amendment*. * **Specific Part of Original Policy Changed:** Paragraph 1, against serial number 6, in notification G.S.R. 835E, dated the 3rd November, 2015. * **New Rule/Provision:** The previous entry is *replaced* with the following entry: "Shri CMA Avijit Goswami, Member. Cost Accountant, Aura by the Lake", Flat No. 1B, 581, Suren Sarkar Road, P.O. Beleghata, Kolkata700010." * **Difference/Effect of Change:** The change ensures that the official records reflect the current address and designation (Member, Cost Accountant) of Shri CMA Avijit Goswami. This ensures accurate communication and record-keeping related to the regulation of cost accountants. **6. Target Audience and Stakeholders:** The primary target audience is likely the Ministry of Corporate Affairs, the Institute of Cost Accountants of India (ICAI), and Shri CMA Avijit Goswami himself. Other stakeholders include any individuals or organizations that rely on accurate information regarding the membership of cost accountants, as well as other members of the board or committee mentioned in the initial notification. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Corporate Affairs is responsible for issuing and implementing the notification. * **Timelines/Procedures:** The notification states that it comes into force on the date of its publication in the Official Gazette, meaning implementation is immediate upon publication. No other specific procedures are mentioned in the text. * **Specific to Changes:** The main implementation aspect is the updating of the relevant records within the Ministry of Corporate Affairs and likely communication of the change to the ICAI. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to maintain accurate and up-to-date records regarding the members. The impact of this specific amendment is primarily administrative, ensuring proper communication and regulatory oversight. The change is unlikely to have any significant operational or substantive impact on the broader accounting profession. **9. Conclusion:** The notification of June 15, 2021, represents an amendment to existing regulations concerning accounting professionals in India. The specific change involves updating the membership details of Shri CMA Avijit Goswami. While seemingly minor, this amendment is significant for maintaining accurate records and ensuring effective regulation of cost accountants within the framework established by the Chartered Accountants Act, the Cost and Works Accountants Act, and the Company Secretaries Act. This highlights the government's commitment to maintaining updated information related to professionals in this field.

Key Entities Referenced