9 Sep 2016- LECTURE MEETING on “How Well you are prepared to deal with IFC?”

Dear Member,

Audit of ‘Internal Financial controls (‘IFC’) over Financial Reporting’ is a reasonably advanced reporting concept for India. In India though there were no such requirements earlier, however, similar reporting requirements existed globally such as section 404 of Sarbanes Oxley Act, 2002 of USA.

Under Section 143 (3) (i) of the Companies Act 2013, an auditor of a company is required to state in audit report whether the company has an adequate internal financial controls system in place and the operating effectiveness of such controls. Accordingly, due to provisions of section 143(3), the auditors of even unlisted companies are required to report on the adequacy and operating effectiveness of internal financial controls over financial statements (ICOFR). Introducing this requirement has caused a lot of apprehension and on the other hand it also induced a lot of interest.

A detailed analysis of the concerned provisions Companies Act, 2013 and Guidance Notes, is helpful in understanding the said concept and establishing IFC in any Company. Hence Basavanagudi CPE Study Circle has organised a Lecture Meeting titled How well you are prepared to deal with IFC ?. Details are hereunder:

Topic           : How well you are prepared to deal with IFC?

Speaker       : CA. Amit Agrawal & CA. Madhavi D K

Date            : Friday 9th September 2016

Time           : 5:00 PM to 8:00 PM

Venue         : Vasavi Vidyanikethan Trust (VVN), No.3, Vani Vilas Road, V.V. Puram, Basavanagudi, Bengaluru – 560 004

CPE             : 3 Hours

Fees             : Rs. 200/- Member, Rs.250/- Non-Member

Contact:

Maddanaswamy B V- +91 93412 14962,

CA. Raghavendra T N  –  +91 98801 87870

CA. Nagappa Nesur  –  +91 98867 11611

Participation mail to: basavanagudicpe@gmail.com/ kscaablr@gmail.com

Link to location map: https://goo.gl/maps/GG66UZcvYBC2

The event is Sponsored by Karnataka State Chartered Accountants Association