[aaykarbhavan] ICAI PENALTY FOR CPE NON COMPLIANCE

Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013). - (09-10-2013)

For kind information of the members Sub : Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013) In order to function the system of mandatory CPE effective, the Council of the Institute of Chartered Accountants of India has decided that the members who fail to comply with their CPE Hours requirement for the current block of 3 years (1-1-2011 to 31-12-2013) are appropriately sanctioned. Therefore, the Council of the Institute has decided as under : All the members are required to complete their CPE hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013) by 31st December, 2013. Any shortfall in the CPE credit for the calendar years 2011, 2012 and 2013 should be met by the members by 31st December, 2013. The names of the members who fail to comply with their CPE hours Requirements for the block period of 3 years by 31st December, 2013 would be hosted on the website of the ICAI for information of public at large. Further, the ICAI will not be responsible in any way for any action taken by any of the regulatory authorities on the basis of the names hosted on the website for allotting the professional work to them as sole proprietor or to their partnership firm. To strike out the name/s from the list so hosted on the website, the member/s shall have to make up any shortfall in their CPE credit hours for the above block period of 3 years by obtaining twice of the amount of the shortfall. Such addition shall be in addition to the regular CPE hours requirement for the particular Calendar year in which they are making up the shortfall. The members are requested to note the above. The members are also requested to comply with the CPE Hours requirements for the current year by 31st December, 2013.

On Tuesday, 3 September 2013 9:45 PM, Ramachandran Mahadevan <ramachandran_ca@yahoo.co.in> wrote:

 

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Ombudsman: Careful with ATM Cards

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MONEYLIFE DIGITAL TEAM | 03/09/2013 05:42 PM |   

ATM cards issued by the public sector banks are highly susceptible to fraud as they are made with inferior technology, according to the banking ombudsman of Andhra Pradesh. "The cyber crime wing of the police department has been receiving 4-5 complaints every day involving impersonation and most of these cases pertain to the cards issued by the public sector banks," N Krishna Mohan, banking ombudsman and chief general manager (CGM) of RBI, said.

According to him, starting 1 November 2013, RBI has made it mandatory for all banks to implement a second factor authentication, in which the banks need to provide another password, unique to each transaction, and to replace the magnetic strip that stores data of the customer with an electronic chip-based card. This is to protect the customer from thecard-related frauds, which generally happen when the information on the card, including the account number and the password, are stolen. About 18% of complaints reported at the Ombudsman's office are of this nature, the CGM said.
 

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