Chartered Accountant Qualification and Responsibilities Quiz

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Questions and Answers

What is the requirement for becoming a registered member of the Institute of Chartered Accountants of India?

  • Obtain a master's degree in finance
  • Complete an internship at any accounting firm
  • Have a bachelor's degree in accounting
  • Clear the Institute conducted examination with prescribed percentage and complete required theory and practical trainings (correct)

What is the primary role of a Chartered Accountant in India?

  • Provide legal advice to organizations
  • Handle human resource management for organizations
  • Ensure proper accounting, auditing, and taxation controls for various organizations (correct)
  • Develop marketing strategies for organizations

When was the Institute of Chartered Accountants of India formed?

  • 1970
  • 1949 (correct)
  • 1955
  • 1960

What are the tasks that a qualified Chartered Accountant in India can perform for organizations?

<p>Tasks enlisted by the Institute for proper accounting, auditing, and taxation controls (D)</p> Signup and view all the answers

What is the significance of completing the required theory and practical trainings conducted by the Institute of Chartered Accountants of India?

<p>Eligibility as a registered member with the Institute (C)</p> Signup and view all the answers

Flashcards

ICAI Registered Member Requirement?

Clear the ICAI examination with the prescribed percentage and complete the required theory and practical training.

Primary role of a CA in India?

Ensure proper accounting, auditing, and taxation controls for various organizations.

When was ICAI formed?

1949

Tasks of a qualified CA in India?

Tasks enlisted by the Institute for proper accounting, auditing, and taxation controls.

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Significance of ICAI Trainings?

It provides eligibility as a registered member with the Institute.

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Study Notes

Eligibility for Registered Membership

  • To become a registered member of the Institute of Chartered Accountants of India, one must meet the eligibility criteria set by the Institute.

Role of a Chartered Accountant

  • The primary role of a Chartered Accountant in India is to provide expert financial services, including auditing, taxation, and financial planning.

Institute of Chartered Accountants of India

  • The Institute of Chartered Accountants of India was formed in 1949.

Tasks of a Qualified Chartered Accountant

  • A qualified Chartered Accountant in India can perform various tasks for organizations, including:
    • Auditing and assurance
    • Financial planning and taxation
    • Financial reporting and compliance
    • Risk management and advisory services

Importance of Training

  • Completing the required theory and practical trainings conducted by the Institute of Chartered Accountants of India is crucial for developing the skills and knowledge required to become a competent Chartered Accountant.
  • These trainings equip students with the necessary expertise to perform their roles efficiently and effectively.

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