Grey Matter Academics

Fresh Batch for CIA-Part 3 under New syllabus starting in July: Registrations open

gmadmin — Fri, 26 Oct 2012 19:59:57 +0000

Fresh batch for CIA- Part 3 under new syllabus commencing from July. Registrations are open. Enroll now.
Batch timings will be updated soon

Over 76% of FINTEGRATED STUDENTS pass June 2012 CPT

gmadmin — Fri, 27 Jul 2012 03:48:05 +0000

Out of the 17 students enrolled for FINTEGRATED 2012, 14 students have cleared the CPT held in June 2012, projecting a pass percentage of more than 76%. These numbers are more than double the CA pass percentage, which stands at 38%.

Enrol for the CIA Bridge program

gmadmin — Wed, 20 Jun 2012 07:07:37 +0000

Why a CIA bridge Program?

The CIA bridge program is aimed at bridging the gap between the prerequisites/eligibility for CIA and the aspirants for the course who do not have the required skill-base.

As an international certification course in accountancy, CIA demands greater insights, which is achieved either through experience or relevant qualifications. Though the course is well designed and structured by Greymatter, the vastness of the subject is better understood, through optimum industrial exposure or professional certifications in accountancy.

For whom is the Program?

Candidates, with no prior experience in audit, accountancy, consultancy or internship and who are not qualified as a CPA,CISA,CA, CWA, CMA, MBA, BE, or any PG equivalent can leverage the benefits of the CIA bridge program.

The bridge program will help candidates develop a strong foundation in the skills required to pursue a CIA course.

Though the program is mandatory for non-professionals and those with less than 5 years of relevant work experience, it is optional for others.

Program Structure

CIA Bridge program structure will be spread across four consecutive Sundays, and will be conducted regularly. The schedule for the Bridge program will be as follows:

•Fundamental of Auditing (Two days),

•IT (one day)

•General Management & statistics. (one day)

The timings for the program will be from 9:00 AM to 6:00 PM.

Click here to view the detailed syllabus

Program Fees

The fee for the Bridge course (32 hours) will be Rs. 10000 plus applicable service tax. 50% of the fee will be set off against the CIA course fee.

CIA Eligibility post the Bridge program

Once the bridge program is completed, a 2-hour test with Multiple choice question pattern, will be conducted.

The minimum marks for clearing the test will be 60%. Those Candidates who do not clear the test in the first attempt can sit for another attempt.

It is recommended that only students clearing the Bridge test enroll for the CIA course. If however, they still aspire to pursue the course, without clearing the bridge exam, they need to be consciously work on their skill-deficits for the same.

Grey Matter Academics launches FINTEGRATED: the roadmap for +2 commerce students

gmadmin — Mon, 17 Oct 2011 05:28:29 +0000

The 12^th standard is viewed as a milestone in a student’s academic endeavor- the grand finale to schooling years. With a variety of options for higher studies, most students invariably find themselves at crossroads. Given the highly competitive landscape, a higher level of competence with high qualifications makes way for good career progress. And, it makes sense to start early.

Realizing the need to tap the potential of commerce students right after their 12^th standard, Grey Matter Academics has launched FINTEGRATED, a five year integrated program that brings together 5 specialized courses onto one single platform. The program will equip students to pursue B.Com, while preparing them for accountancy specialization courses such as the CA, CWA, CIA and CPA. The objective of FINTEGRATED is to prepare students for the job industry by creating the necessary skill. The initiative further reinforces the need for creating skilled workforce, which will fill the existing gap between the student potential and job-readiness, while making an entry into the industry.

The five year training instituted by FINTEGRATED will be intensive, covering the entire scope of coaching for B.Com, CA, CWA, CPA, through cutting edge learning modules. Innovative teaching methodologies will deliver an effective and enhanced learning experience. Customized learning management systems (LMS) will schedule regular home assignments and mock-tests to make the students more competent. There will be regular assessment by course coordinators to keep track of students’ progress and keep their wards informed as well.

All learning modules have been developed by academic exponents, with wide experience in their line of profession. The result is that the content delivered to the students will be customized with greater application in today’s dynamic business scenario. Add to that, the learning space created for the students, with the limited class size (50 per batch) will ensure that each student has an interface with the instructor, meaning better individual attention. Additionally, the program will also handle the students’ Articleship (for CA) through tie-ups with different audit firms, which is mandatory as per the norms of ICAI. FINTEGRATED renders a greater employability quotient for the students, helping them get a placement through its wide network of connections with leading audit firms and companies.

With programs such as FINTEGRATED, there is a defined roadmap for students ready to kick-start their professional, academic and industrial pursuit; as an experienced guide, all the way through.

For detailed presentation on FINTEGRATED go to http://www.youtube.com/watch?v=X9ROsFsDPZw

U.S. CPA Exam to be Administered Outside the U.S. for the First Time

gmadmin — Fri, 29 Jul 2011 13:25:25 +0000

As extracted from the Website of NASBA http://www.nasba.org/blog/2010/10/17/101810-u-s-cpa-exam-to-be-administered-outside-the-u-s-for-the-first-time/

NEW YORK, NASHVILLE and BALTIMORE (Oct. 17) — The Uniform CPA Examination will be offered outside the 55 U.S. jurisdictions for the first time in its history in 2011. The American Institute of Certified Public Accountants, National Association of State Boards of Accountancy and Prometric – the three organizations that jointly offer the CPA Examination in the United States – reached an agreement to administer the exam in international locations.

The CPA Examination next year will be offered in Japan, Bahrain, Kuwait, Lebanon and the United Arab Emirates.

The international exam will be the same as the one offered in the U.S., using the same computerized format and administered in English. As in the U.S., the purpose of taking the examination will be to qualify for licensure as a CPA through U.S. state boards of accountancy.

“Candidates for licensure as U.S. CPAs reside all over the world, but at present, they must travel to the U.S. to take the CPA Exam,” said Barry Melancon, AICPA president and CEO. “International administrations are being offered as a service to them and to other international candidates who wish to seek CPA licensure – the mark of highly‐qualified professionals in accounting.”

The Uniform CPA Examination is one of the “Three Es – Education, Examination, and Experience” that are required for licensure as a CPA in the U.S. The CPA Examination consists of four sections: Auditing and Attestation; Financial Accounting and Reporting; Regulation; and Business Environment and Concepts. The combined testing time for the four sections is 14 hours.

Number of Certified Internal Auditors Reaches 100K

gmadmin — Fri, 29 Jul 2011 13:10:33 +0000

As reported in the IIA website http://www.theiia.org/theiia/newsroom/news-releases/index.cfm?i=15606

March 31, 2011

Global certification crosses milestone

ALTAMONTE SPRINGS, Fla. – The Institute of Internal Auditors (IIA) is pleased to announce that the number of professionals who have earned their Certified Internal Auditor (CIA) designation worldwide has crossed the 100,000 mark. Portia Ngesi of Mondeor, South Africa, is the 100,000^th individual to earn the CIA — the only globally accepted certification for internal auditors and the standard for demonstrating internal audit competency and professionalism.

A seven-year internal audit veteran, Portfolio Manager: CIB Audit Portia Ngesi, CIA, works for Standard Bank as part of the bank’s team of more than 300 internal auditors worldwide. According to Ngesi, her work has improved as a result of the preparation and study for the CIA exam. In addition, she is pleased by the positive way having her CIA is viewed within her organization.

“Earning my CIA has broadened my thinking and I am able to see issues at a much higher level than I used to,” says Ngesi. “I now have the bigger picture in mind on every audit that I am involved in and can bring more valuable input to the audit team. I also am able to apply what I learned practically and to perform at a higher level than before I became certified.”

Available year-round through computer testing, the CIA exam is offered at 500 locations worldwide. Comprising four parts, it covers the internal audit activity’s role in governance, risk, and control; conducting the internal audit engagement; business analysis and information technology; and business management skills.

“The CIA is not static,” says IIA Vice President of Certifications Cyndi Plamondon, CIA, CISA, CCSA, CGAP, CFSA. “It regularly undergoes review and updating to ensure the information continually meets the needs and requirements of today’s internal audit profession and business arena.” She goes on to point out the global applicability of the exam, which ensures that the CIA prepares internal auditors everywhere to perform their unique role in the workplace.

When asked why reaching 100,000 CIAs is such a critical milestone, IIA President and CEO Richard F. Chambers points out the uniqueness of the certification. “The CIA was established in 1973 to meet a growing need to demonstrate the competency of internal audit professionals willing to take their knowledge and expertise to the next level. The depth and breadth of this certification program is unparalleled and both its content and applicability are global,” says Chambers. “And considering the enormous responsibility internal auditors carry on behalf of their organizations, these practitioners must have the highest level of integrity and proficiency,” he continues. “No other certification anywhere can attest to this in the way the CIA can… And now 100,000 professionals from all around the globe have taken advantage of the value it brings.”

To learn more about the Certified Internal Auditor designation, visit: http://www.theiia.org/certification/.

Implications of Strengthening & Weakening of Foreign currency

gmadmin — Fri, 29 Jul 2011 09:40:40 +0000

If Indian Rupees (INR)
strengthens or appreciates against another foreign currency, say US Dollar (USD), it means that the value of INR vis a vis USD increases and hence one will get fewer INR for every USD converted. Consequently the purchasing power of INR increases versus that of USD. Therefore, INR purchases more items priced in USD and USD purchases less items priced in INR.

By contrast, the INR depreciates or weakens against USD, it would mean one would get more INR for every USD converted. If a business is an exporter to the US, or if it owns subsidiaries in the US, then the strong INR is bad news, since it makes the profits earned (in USD) from US operations worth less when translated into INR.

If the business is an importer from the US, then the weak INR is bad since it makes buying in American goods more expensive. If the Indian business is a subsidiary of a US company, then it means that the US parent company enjoys income from abroad that is worth more when translated into USD.

The main impact of foreign currency in the operations of a business is to do with foreign currency risk. This risk needs to be managed via hedging of one kind or another.

NASBA and AICPA Announce Launch of CPAmobility.org

admin — Thu, 28 Jul 2011 16:28:29 +0000

Innovative Online Tool Helps CPAs and Firms Manage Interstate Licensing

Published July 28, 2011

NASHVILLE and NEW YORK (July 28, 2011) – The National Association of State Boards of Accountancy and the American Institute of Certified Public Accountants today announced the launch of CPAmobility.org – an online tool designed to help Certified Public Accountants navigate the new practice privilege requirements that allow CPAs to more easily practice across state borders.

A joint project of the AICPA and NASBA, the new CPAmobility.org website provides helpful information, updated regularly, on state practice privilege requirements for CPAs, commonly referred to as “mobility” laws, for all 50 states and 5 U.S jurisdictions. In four simple clicks online, CPAs can learn whether their existing home state registration is mobile and allows them to work in other jurisdictions without additional notice, or whether further paperwork is required. In most cases, additional registration is no longer required because mobility statutes recognizing CPA licenses granted by other states and jurisdictions have been enacted in 47 of the 55 U.S. jurisdictions.

“CPAmobility.org is a valuable service that allows CPAs to take advantage of the benefits associated with state mobility laws with confidence. We are happy to offer a free tool that will assist CPAs in determining whether or not they can exercise mobility in a particular jurisdiction at the click of a button, on their laptop or mobile device,” said Ken L. Bishop, executive vice president and COO of NASBA.

“Mobility has become a reality for CPAs and accounting firms from coast-to-coast and it is now time to open the system for business,” said Barry Melancon, president and CEO of the AICPA. “We are very pleased to be able to offer this free service to CPA firms together with NASBA, which was a key partner in developing the technology and information to power the website, CPAmobility.org.”

The site works by posing three targeted questions to CPAs interested in exercising cross-border practice privileges. Those are:

Where is your principal place of business?
Where are you going to perform services (target state)?
What type of services will you perform?

Information on licensing and registration requirements is then produced allowing CPAs to move quickly to address new business opportunities. CPAmobility.org offers immediate access to the site through a mobile application, an attractive benefit for CPAs needing to confirm eligibility requirements while they are on the road or away from their offices.

NASBA and the AICPA have been longtime advocates of mobility, providing support and resources to state boards and state CPA societies seeking changes to current rules. As additional states continue to embrace mobility, the need to educate CPAs on the requirements is growing.

CPAmobility.org will feature useful links to NASBA and AICPA resources. To learn more about mobility or to research cross-border practice privilege requirements, visit www.CPAmobility.org.

Mr. John Endry

admin — Thu, 01 Jul 2010 08:27:53 +0000

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KPMG

admin — Tue, 29 Jun 2010 04:02:17 +0000

KPMG is one of the largest professional services firms in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY) and PwC. Its global headquarters is located in Amstelveen, Netherlands.

KPMG employs 138,000 people and has three lines of services: audit, tax, and advisory. Its advisory services are further divided into three main categories – Risk & Compliance, Performance & Technology, and Transaction & Restructuring services.

KPMG has successfully implemented many Lambers Review Courses, products and services in the past.