ICAI GN-POLITICAL PARTIES

Keeping in view the need for a “Uniform Accounting & Auditing
Framework for Political Parties”the Election Commission of India
(ECI), had approached ICAI with a request to suggest anappropriate
accounting & auditing framework for the good governance of the
Political System inIndia. For this purpose, a Study Group was
constituted by the President, ICAI.The Study Group has finalised an
Exposure Draft of the Guidance note on “Accounting and Auditingof
Political Parties” covering Accounting Framework for Political
Parties, applicability of AccountingStandards issued by the ICAI to
Political Parties, Basis of Accounting, Formats of
FinancialStatements, and applicability of Auditing Standards issued by
the ICAI to Political Parties etc.”Comments are invited on the
Exposure draft of the Guidance note. Comments may be sent by emailat
tdte@icai.in so as to be received not later than January 5, 2012.
Alternatively, commentsmay be submitted in writing the Technical
Director, The Institute of Chartered Accountants ofIndia, ICAI Bhawan,
Post Box No. 7100, Indraprastha Marg, New Delhi – 110 002.
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