FOR THE ATTENTION OF MEMBERS IN FULL-TIME EMPLOYMENT

The Central Government vide the following notifications, has allowed cost accountants in full time employment, in addition to certification by members in full-time practice, to certify the Compliance Report to be filed with the Central Government in compliance with the following rules, namely:-

a) The Companies (Cost Accounting Records) Rules, 2011 notified vide GSR 429 (E), dated the 3rd June, 2011;

b) The Companies (Cost Audit Report) Rules, 2011 notified vide GSR 430(E), dated the 3^rd June, 2011;

c) The Cost Accounting Records (Telecommunication Industry) Rules, 2011 notified vide GSR 869(E), dated the 7th December, 2011;

d) The Cost Accounting Records (Petroleum Industry) Rules, 2011 notified vide GSR 870 (E), dated the 7th December, 2011;

e) The Cost Accounting Records (Electricity Industry) Rules, 2011 notified vide GSR 871 (E), dated the 7th December, 2011;

f) The Cost Accounting Records (Sugar Industry) Rules, 2011 notified vide GSR 872 (E), dated the 7th December, 2011;

g) The Cost Accounting Records (Fertilizer Industry) Rules, 2011 notified vide GSR 873 (E), dated the 7th December, 2011;

h) The Cost Accounting Records (Pharmaceutical Industry) Rules, 2011 notified vide GSR 874(E), dated the 7th December, 2011.

The Compliance Report would be required to be filed in XBRL mode and the member in employment would be required to affix his digital signature to the e-Form for filing of the report.

It may be noted that the status of the member would be checked by the MCA at the time of filing against the database of the Institute.

In case of members in full-time employment who would be certifying the Compliance Report of the company where they are employed, their attention is drawn to the above requirement and hereby advised to provide the Institute with full particulars of their employment, designation, employer’s name with address and membership status for updating in the database of the Institute. In case there is mismatch of the member’s status of employment as recorded in the database of the Institute, the validation of the Compliance Report may fail while being uploaded to the MCA Website.

The details are to be sent by signed hard copy to the Membership Department of the The Institute of Cost Accountants of India, 12, Sudder Street, Kolkata – 700 016. Scanned copy of the same may also be sent by e-mail to: [email protected].

All members in employment are hereby requested to send their employment details to the Institute positively by November 30, 2012.

Certification by employed cost accountants now permitted; file Compliance Reports in XBRL with digital signature and ensure membership details. Employed cost accountants are authorised to certify Compliance Reports under the Companies Cost Accounting and related industry rules, provided the report is filed in XBRL with the member's digital signature; the MCA will validate employment status against the Institute database and employed members must supply full employment particulars to the Institute to ensure successful electronic validation.