DETAILED SYLLABUS FOR EXECUTIVE PROGRAMME
EXECUTIVE PROGRAMME
Module 1
PAPER
1: COMPANY LAW (100 Marks)
Level of Knowledge: Expert
Knowledge
Objective: To acquire
knowledge and develop understanding of the regulatory framework of companies with reference to various
provisions of Companies Act and its schedules, rules, notifications, circulars,
clarifications there under including case laws and Secretarial standards.
Contents:
1.
Introduction
l Historical Development of Concept of Corporate Law in India l Company-Definition,
Meaning, Nature and its Characteristics l Nature and Forms of Business
l Company vis-à-vis other Forms of Business
l Concept of Corporate Personality, Corporate Veil, Limited
Liability
and
Citizenship
2.
Incorporation and its Consequences
l Types of Companies and their incorporation
l Promoters-Meaning, Position, Duties, Rights, Responsibilities
and Liabilities
l Formation of Companies - Procedural Aspects
l Memorandum of Association & Articles of Association and
their
Alteration
l Contracts and Conversion of
Companies l Commencement of Business
l
Doctrine of Ultra-Vires, Constructive Notice, Indoor
Management,
Alter Ego
1
Financial Structure
l
Concept of Capital and Financing of
Companies - Sources of
Capital; Classes and Types
of Shares; Equity Shares with Differential Rights; Issue of Shares at Par,
Premium and Discount; Forfeiture and Surrender of Shares; Bonus Issues; Rights
Issues; Issue of Sweat Equity Shares; Employees Stock Option Scheme; Private
Placement; preference shares and other
forms of
securities
l Alteration
of Share Capital - Reduction of Capital; Buy-Back of
Shares
l
Prospectus- Definition; Abridged
Prospectus; Red-Herring
Prospectus; Shelf
Prospectus; Information Memorandum;
Contents,
Registration; Misrepresentations and Penalties
l
Debt Capital- Debentures, Debenture
Stock, Bonds;Recent
Trends and Dynamics of
Corporate Debt Financing; Debenture
Trust Deed and Trustees;
Conversion of and Redemption of
Debentures
l Securing of
Debts- Charges; Creation,
Modification and
Satisfaction
of Charges
l
Allotment and Certificates- General
Principles and Statutory
Provisions related to
Allotment; Minimum Subscription; Irregular
Allotment; Procedure of Issue of Share Certificates and Warrants
4.
Membership in a Company
l
Modes of Acquiring
Membership
l Rights and Privileges of
Members, Register of Members l Dematerialisation and Rematerialisation of Securities
l Transfer and Transmission
of Securities in
Physical and
Dematerialized
forms
l
Nomination
5.
Management and Control of Companies
l
Directors-Types, Director's
Identification Number (DIN),
Appointment/Reappointment, Qualifications, Disqualifications,
Vacation of Office,
Retirement, Resignation and Removal of
Managing and Whole-Time Directors and
Manager l Role and Responsibilities of
Directors
l Powers and Duties l Loans to Directors
l Remuneration of Directors l Office or Place of Profit
l Contracts in which Directors are Interested
l Board of Directors and its Committees
l Company
Secretary - Appointment, Role and Responsibilities
l Company Secretary as a Key
Managerial Personnel l Meetings:
l
Meetings of Board and
Committees - Frequency, Convening, Proceedings,
Video Conferencing of Board/Committee(s);
Resolution
by Circulation; Minutes and Evidence
l
General Meetings-Kinds of Meetings; Law, Practice and Procedure Relating
to Convening and Proceedings at General and Other Meetings; Notice, Quorum,
Chairman, Proxy, Voting including Voting through Electronic Means; Resolutions,
Circulation of Members' Resolution, etc.; Postal Ballot;
Recording,
Signing and Inspection of Minutes
l Distribution
of Powers of a Company - Division of
Powers between Board and
General Meetings; Acts
by Directors in Excess of Authority;
Monitoring and Management l Sole Selling and Buying Agents-Meaning, Appointment and
Reappointment,
Removal; Powers of Central Government and
Rules
Framed for the Purpose
6.
Investments, Loans and Deposits
l Law relating to making investments in and granting loans to
other
bodies corporate and giving guarantees
and providing security l Acceptance of Deposits, Renewal, Repayment, Default and
Remedies
7. Accounts and Audit l Books of Accounts
l Financial Statements
l Auditors-Appointment, Resignation and Removal; Qualification
and
Disqualification; Rights, Duties and Liabilities
l
Audit and Auditor's Report
l
Cost Audit and Special
Audit
8.
Dividends
l
Profit and Ascertainment of
Divisible Profits
l
Declaration and Payment of
Dividend
l
Treatment of Unpaid and
Unclaimed Dividend
l
Transfer of Unpaid and Unclaimed Dividend to Investor Education
and
Protection Fund
Board's Report and
Disclosures- Contents and Annexure to
Board's
Report
l
Directors' Responsibility
Statement-Preparation and Disclosures
l
Compliance Certificate -
Need and Objective; Issue and Signing by Practising Company Secretary
l
Corporate Governance Report
9.
Registers, Forms and Returns
l
Statutory Books
and Registers prescribed
under various
provisions of the
Company Law - Maintenance, Authentication,
Place of
Keeping and Inspection
l Filing of various Forms and
Returns with the Authorities l Procedure and Penalties for Delayed Filing
l Annual Return -
Nature and Significance;
Contents; and
Certification
by Practising Company Secretary
10. Inspection and Investigation l Inspection of Documents l Powers of the Inspector
l Seizure of Books And Documents l Inspector's Report
l Power of the Registrar of Companie
l Investigation into Affairs of the Company
11.
Majority Rule and Minority Rights
l Law relating to Majority Powers and Minority Rights
l Shareholder
Remedies-Actions by Shareholders;
Statutory
Remedies;
Personal Actions
l
Prevention of Oppression
and Mis-Management
12. Merger, De-merger, Amalgamation, Compromises and Arrangements -
An Overview
13.
Producer Companies
l
Concept, Formation,
Functioning and Dissolution
14.
Limited Liability Partnerships
l
Concept, Formation,
Membership, Functioning and Dissolution
15.
Application of Company Law to Different
Sectors
l
Banking
l Insurance
l Others
16.
Offences and Penalties
l Introduction
l
Officer in Default
l
Penalties
17.
Compounding of Offences
18.
Winding up of Companies - An Overview
l
Concept and Modes
19.
Striking Off Name of Companies
20.
An Introduction to E-Governance and
XBRL
PAPER 2: COST AND
MANAGEMENT ACCOUNTING (100 Marks)
Level of Knowledge: Working
Knowledge
Objective: To acquire knowledge and understanding of the concepts, techniques and practices of
cost and management accounting and to develop skills for decision making.
Contents:
1. Introduction to Cost and Management Accounting
l Cost Accounting: Evolution, Meaning, Objectives and Scope l Concepts of Costs,
Classifications and Elements of Cost
l Cost Centre and Cost Unit
l Methods and Techniques of Costing l Cost Accounting Standards
l Installation of a Costing System
l Practical Difficulties in Installing a Costing System l Role of Cost Accountant in
Decision Making
l Management Accounting: Evolution, Meaning,
Objectives and
Scope
l Tools and Techniques of Management Accounting
l Relationship of Cost
Accounting, Financial Accounting,
Management
Accounting and Financial Management
l
Conflicts in Profit versus
Value Maximisation Principle
l
Role of Management
Accountant in Decision Making
2.
Material Cost
l
Materials Control - Concept
and Techniques
l Procurement
Procedures and Documentation: Methods
of
Purchasing; Procedure
of Purchases, Stores
and Issue of
Material;
Stock Verification
l Methods of Pricing
of Material: FIFO,
LIFO, Simple
Average,
Weighted Average
l Accounting and Control of Material Losses, Wastage,
Scrap,
Spoilage and Defectives
l Inventory Management: Techniques of fixing of minimum, maximum
and reorder levels, Economic Order Quantity, ABC Analysis; Stock Verification
and Perpetual Inventory
3.
Labour Cost
l Meaning and Classification of Labour Costs l Accounting and Control of
Labour Costs
l Time Keeping and Time Booking
l Attendance and Payroll Procedures, Time Recording, Overtime
and Idle
Time
l Labour turnover and Remedial Measures
l Efficiency
Rating Procedures; Remuneration Systems and Incentive Schemes
4.
Direct Expenses and Overheads
l Direct Expenses: Meaning, Nature,
Collection, Classification
and
Treatment of Direct and Indirect Expenses
l Overheads: Meaning, Nature,
Collection and Classification Functional Analysis: Factory,
Administration, Selling, Distribution, Research and Development
l
Behavioural Analysis: Fixed, Variable, Semi variable and Step Cost Allocation,
Apportionment, Absorption and Control of
Overheads
l
Preparation of Cost Sheet
5.
Activity Based Costing (ABC)
l
Meaning, Importance,
Characteristics
l
Elements and Steps involved
l
ABC vs. Traditional Costing
l
Uses and Limitations
6.
Cost Records
l
Cost Ledgers - Integrated
Accounts and Non-Integrated Accounts
l
Reconciliation of Cost and
Financial Accounts
7.
Costing Systems
l
Unit and Output Costing
l Job
Costing: Job Cost Cards, Collecting Direct Costs, Allocation of Overheads and
its Applications
l Batch Costing: Features and Applications
l
Contract Costing: Features, Distinction between Job and Contract
Costing, Progress
Payments, Retention Money,
Escalation
Clause, Contract Accounts,
Accounting for Material, Accounting for Plant Used in a Contract, Contract
Profit and Accounting
Entries
l
Process Costing: Features,
Applications and Types of Process
Costing, Process Loss, Abnormal Gains and Losses, Equivalent
Units, Inter-Process Profit,
Joint Products, By-Products
and
Accounting
l Service Costing: Features and Applications, Unit Costing and
Multiple Costing,
Application, Identification of Cost Unit and Cost
Determination
and Control
8. Marginal Costing
l Meaning, Advantages,
Limitations and Applications l Breakeven Analysis
l Cost-Volume Profit Analysis l P/V Ratio and its
Significance l Margin of
Safety
l Absorption Costing:
System of Profit Reporting and Stock
Valuation
l
Difference between Marginal
Costing and Absorption Costing
l
Income Measurement under
Marginal Costing and Absorption
Costing
9.
Standard Costing
l
Definition, Significance
and Applications
l Various Types of Standards
l Installation of Standard Costing System-for Material, Labour,
and
Overhead
l Variance Analysis for Materials, Labour and Overheads and
Accounting
Treatment of Variances
l
Benchmarking for Setting of
Standards
l
Variance Reporting to
Management
10.
Budget, Budgeting and Budgetary Control
l
Budget Concept, Manual
l Fixed and Flexible Budgets
l Preparation and Monitoring of Various Types of Budgets
l Budgetary Control System:
Advantages, Limitations and
Installation
l Zero Base Budgeting
l
Programme and Performance
Budgeting
11.
Cost Accounting Records and Cost Audit
l
Nature and Scope of Cost
Audit
l Cost Accounting Records
and Cost Audit
under Companies Act,1956
l
Purpose, Scope and
Advantages of Cost Audit
l
Implementing Authorities of
Cost Audit
l
Cost Audit Techniques and
Programmes
l
Cost Audit Report
l
Cost Auditor - Appointment,
Rights and Responsibilities
12.
Analysis and Interpretation of
Financial Statements
l
Financial Statements:
Nature, Attributes, Objectives, Importance,
Limitations
l Recent Trends in presenting Financial Statements
l Financial Statements Analysis:
Types, Methods, Objectives,
Limitations
l Ratio Analysis: Accounting, Uses, Classification, Advantages,
Limitations
l Cash Flow Statement
l Fund Flow Statement
l Difference between Cash
Flow and Fund Flow Statement l Management Reporting
PAPER 3: ECONOMIC AND
COMMERCIAL LAWS (100 Marks)
Knowledge: Part A-Advance
Knowledge
Part B- Working Knowledge
Objective: To acquire
knowledge and understanding of Economic and Commercial Laws.
Contents: PART A: (70
Marks)
1. Foreign Exchange Management
l Objectives and Definitions under FEMA, 1999
l Current Account
Transactions and Capital Account Transactions l FDI Policy
l Foreign Direct Investment in India and Abroad
l Acquisition and Transfer of Immovable Property in India and
Abroad
l Establishment of Branch,
Office etc. in India l Export of Goods and Services
l Realization and
Repatriation of Foreign
Exchange l Authorized Person
l Penalties and Enforcement
l Foreign Contribution
(Regulation)Act, 2010 l Foreign Contributions and Hospitality
l Exemptions
l Powers of Central Government
l Adjudication, Appeal and
Compounding l Offences
and Penalties
2. Foreign
Trade Policy and Procedures l Main Features
l Special Focus Initiatives l Served from India Scheme l Export Promotion Council
l Vishesh Krishi and Gram Udyog Yojana
l Focus Market Scheme; Focus Product Scheme; Duty Exemption and
Remission Schemes; Advance Authorization Scheme; DFRC; DEPB; EPCG, etc.
l EOUs, EHTPs, STPs, BPTs and SEZs
3. Competition and Consumer Protection
l Concept of Competition
l Development of Competition Law
l Competition Policy
l
Competition Act, 2002 -
Anti Competitive Agreements, Abuse of Dominant Position, Combination,
Regulation of Combinations,
Competition Commission of
India; Appearance before Commission and Appellate Tribunal, Compliance of
Competition
Law
l Consumer Protection Act, 1986
l
Consumer Protection in India
l
Genesis of the Law and
Objects
l
Rights of Consumers
l
Nature and Scope of
Remedies
l
Appearance before Consumer
Dispute Redressal Forums
4.
Intellectual Property Rights
l
Introduction - GATT, WIPO
and TRIPS
l
Concept and Development of Intellectual Property Law in India
l
Law and Procedure Relating
to Patents, Trade Marks and Copyrights
l
Geographical Indications
l
Design Act
l
Overview of Laws Relating to Other Intellectual Property Rights
l
Intellectual Property
Appellate Board
5.
Law relating to Arbitration and
Conciliation
l
Introduction to UNCITRAL
MODEL LAW
l Law of Arbitration in India l Types of Arbitration
l Appointment of Arbitrators
- Procedure l Judicial
Intervention
l Venue - Commencement
l Award - Time limit,
Enforceability, Interest l Recourse against Award - Appeals
l Conciliation and Compromise
l International Commercial Arbitration; Foreign Awards
l Arbitration Agencies - ICADR, ICA, Chambers of Commerce,
Professional
Arbitrators
l
Alternate Disputes
Resolution
6.
Law relating to Transfer of Property
l
Important Definitions
l Types of Properties
l Movable and Immovable Property
l Properties which cannot be Transferred
l Rule Against Perpetuities l Lis Pendens
l Provisions Relating to Sale
l
Mortgage, Charge, Lease,
Gift and Actionable Claim
7.
Law relating to Stamps
l
Methods of Stamping
l Consequences of
Non-Stamping and Under-Stamping l Impounding of Instruments
l Construction of Instruments for Determination of Stamp Duty
Payable
l Adjudication
l
Allowance and Refund
l
Penal Provisions
l
Concept of E-Stamping
8.
Law relating to Contract
l
Contract - Introduction
l
Legality of Objects
l
Standard Form of Contract
l
Multinational Agreement
l
E-Contracts
l
Strategies and Constraints
to enforce Contractual Obligations
l
Special Contracts: Indemnity
and Guarantee; Bailment
and
Pledge; Law
of Agency
9. Prevention of Money Laundering l Genesis
l Prevention of Money Laundering Act, 2002
l Concept and Definitions, Various Transactions, etc. l Obligations of Banks and
Financial Institutions
l RBI
Guidelines on KYC
PART B: (30 Marks)
10. Law relating to Essential Commodities, Weights and Measures
l Overview of Essential Commodities Act, 1955 l Objects
l Powers of Central Government
l Seizure and Confiscation of Essential Commodities l Summary Trial
l The Legal Metrology Act, 2009
11.
Law relating to Societies
l General Concept Relating to Registration of Societies l Property of Societies
l Suits by and against Societies
l Enforcement of Judgment against Societies l Dissolution of Societies
12.
Law relating to Trusts
l General Concept relating to Trusts l Creation of Trust
l Duties and Liabilities of Trustees
l Rights and Powers of Trustees, Disabilities of Trustees l Rights and Liabilities of
the Beneficiary
13. Industries Development and Regulation l Objects and Definitions
l An Overview of Industrial Policy
l Regulatory Mechanism under IDRA
l The Micro, Small and Medium Enterprises Development Act,
2006
14. Law relating to Pollution Control and Environmental Protection
l Concept of Sustainable Development, Bio Diversity and Carbon
Credit
l Government Policy Regarding Environment
l Law
Relating to Prevention and Control of Air Pollution and Water
Pollution
l
Environment (Protection)
Act, 1986
l
National Green Tribunal
l
Appearance before
Environment Tribunal/Authority
l
Public Liability Insurance
Act, 1991
15.
Law relating to Registration of
Documents
l
Registration of Documents -
Compulsory and Optional
l
Time and Place of
Registration
l
Consequences of
Non-Registration
l
Description of Property
l
Miscellaneous Provisions
PAPER 4: TAX LAWS AND
PRACTICE (100 Marks)
Level of Knowledge: Working
Knowledge
Objective: To acquire
expert knowledge of practical and procedural aspects relating to Direct
Tax Laws, Service Tax and VAT.
Contents:
Part A:
Income Tax and Wealth Tax (70 Marks)
1.
Basics and Definitions - Income Tax Act
, 1961
l Background, Concept and Mechanism of Income Tax
l Definitions, Concept of Income, Previous Year, Assessment Year,
Distinction between Capital and Revenue Receipts and
Expenditure, Residential Status
l Basis of Charge and Scope of Total Income
2.
Incomes which do not form part of Total
Income
3.
Computation of
Total Income under
Various Heads:
Salaries, Income from House
Property, Profit and Gains of Business or Profession, Capital Gains, Income
from Other Sources
4. Income of Other Persons included in Assessee's Total Income;
Aggregation of Income and Set Off or Carry Forward of Losses; Various
Deductions to be made in Computing Total Income,
Rebates and
Relief's; Applicable Rates of Taxes and Tax Liability
5. Taxation of Individuals including Non-Residents, Hindu Undivided
Family, Firms, LLP, Association of Persons, Cooperative Societies,
Trusts, Charitable and
Religious Institution
6. Classification and Tax Incidence on Companies; Computation of
Taxable Income and Assessment of Tax Liability, Dividend Distribution Tax,
Minimum Alternate Tax and Other Special Provisions Relating to Companies
7.
Tax Deduction at Source, Tax Collection
at Source, Recovery and
Refund of Tax; Provisions
of Advance Tax
8.
Provisions concerning Procedure for
Filing Returns, Signatures, E-
Filing, Assessment,
Reassessment and Settlement of Cases, Special
Procedure for
Assessment of Search
Cases, E-Commerce
Transactions, Liability in Special Cases, Collection and
Recovery of
Tax; Refunds, Appeals and
Revisions; Penalties Imposable, Offences and Prosecution
9.
Tax Planning & Tax Management
l Concept of Tax planning, Tax planning with reference to setting up a New Business; Location; Nature of
Business; Tax Holiday, etc. Tax Planning with regard to Specific Management
Decisions such as Mergers and Takeovers; Employees' Remuneration; Voluntary
Retirement; Tax Planning with reference to Financial Management Decisions such
as Borrowing or Investment
Decisions; Reorganization
or Restructuring of Capital
10.
Wealth Tax Act, 1956
l Background, Concept and Charge of Wealth Tax
l Assets, Deemed Assets and Assets Exempt from Tax l Valuation of Assets, Computation
of Net Wealth
l Return of Wealth Tax and Provisions concerning Assessment
11.
Basic Concepts of International
Taxation
l Residency Issues; Source of Income; Tax Havens; Withholding
Tax, Unilateral Relief and
Double Taxation Avoidance Agreements Controlled Foreign Corporation, Advance
Rulings and Tax Planning, Authority for Advance Rulings
12.
Transfer Pricing
l Concepts, Meaning of
International Transactions l Computation of Arm's Length Price & Methods l Documentation and
Procedural Aspects
13.
General Anti Avoidance Rules (GAAR)
Part B- Service Tax &
Sales Tax (30) Marks
14. An Overview of Service Tax: Background,
Negative List Approach, Taxable Services, Administrative Mechanism,
Registration and Procedural Aspects, Rate and Computation of Tax, Levy,
Collection and Payment of Service Tax
15. An Overview of Value Added Tax: Legislative Background, Concept of VAT, Declared Goods,
Administrative Mechanism, Registration and Procedural Aspects, Rate and
Computation of Tax, Levy, Collection and
Payment of VAT
Central Sales
Tax; Tax on
Inter- State Trade
and Exports -
Registration, Preparation and Filing of E-Returns, Rates of Tax,
Assessment and Refunds
EXECUTIVE PROGRAMME
MODULE 2
PAPER 5: COMPANY ACCOUNTS
AND AUDITING PRACTICES (100 Marks)
Level of Knowledge: Advance
Knowledge
Objective: To acquire knowledge and understanding of the concepts, principles and practices of
company accounts and auditing in accordance with statutory requirements.
Contents:
PART A:
Company Accounts (70 Marks)
1.
Share Capital
l Issue of Shares: at Par, at Premium, at Discount, on Conversion and for consideration other than Cash;
Forfeiture and Re-issue of
Shares, Buyback of Shares,
Redemption and Conversion of
Preference Shares, Bonus Shares, Rights Issue, ESOPs, ESPS,
Sweat Equity Shares
l Alteration of Share Capital l Underwriting of Shares
2.
Debentures
l Issue of Debentures: at Par, at Premium, at Discount and for
consideration
other than Cash
l
Accounting Treatment and
Procedures
l
Redemption of Debentures
l
Conversion of Debentures
into Shares
3.
Final Accounts of Companies
l
Conceptual Framework,
Preparation and Presentation
of
Financial Statements,
Schedule VI, Interpretation and Scrutiny of
Balance
sheet
l Treatment of Profit Prior to Incorporation,
Preoperative
and Preliminary Expenses
l
Preparation of Final
Accounts under Company Law
4.
Corporate Restructuring
l
Concept and Accounting
Treatment as per AS
l Methods of Amalgamations Accounting n The Pooling of Interests
Method
n The
Purchase Method
l Consideration
l Treatment of Reserves, Goodwill and Pre- Acquisition & Post-
Acquisition
Profit
l
Accounting in the books of
Transferor and Transferee
l
Merger and De-merger
l
Acquisition of Business
l
Internal Reconstruction
5.
Consolidation of Accounts
l
Holding and Subsidiary
Companies - Accounting Treatment,
Disclosures
and Consolidation of Accounts
6.
Valuation of Shares and Intangible
Assets
l Valuation of Shares, Methods of Valuation, Price Earning
Multiple Valuation, Discounted Cash Flow (DCF)
Method
l Valuation of Intangibles: Brand, Goodwill and IPRs
7.
Liquidation of Company
l Preparation of Statement
of Affairs including
Deficiency
/Surplus Account
8.
Corporate Financial Reporting
l Various Requirements of Corporate Reporting
l Value Added Statements:
Economic Value Added
(EVA),
Market Value Added , Shareholders' Value Added
9.
Accounting Standards
l Relevance and Significance
l National and International Accounting Standards and Authorities l Adoption, Convergence and
Interpretation of International
Financial Reporting
Standards (IFRS) and Accounting Standards
in India
PART
B: Auditing Practices (30 Marks)
10.
Auditing Concepts
l Nature, Scope and Significance of Auditing l Basic Principles Governing
an Audit
l Overview of Auditing and Assurance Standards- National and
International
11. Types of Company Audit l Statutory Audit
l Internal Audit l Branch Audit l Joint Audit l Special Audit l CAG Audit
12.
Internal Audit
l Forms of Audit - Propriety Audit, Compliance Audit and
Efficiency
Audit
l
Nature, Scope and Techniques of Internal Audit; Functions and
Responsibilities of
Internal Auditors; Organisational Status of
Internal Auditing Function, Internal Audit vis-à-vis Statutory
Audit
13.
Internal Control
l
Nature, Scope And Elements
l Internal Control distinguished from Internal Check and Internal
Audit
l Techniques of Internal Control System, Flow Charts, Internal
Control
Questionnaires
l Steps for Internal Control and Audit Evaluation
l Audit Testing - Need For Sampling and Various Approaches to
Statistical
Sampling
l
Inter-Firm and
Intra-Firm Comparisons -
Ratio And Trend
Analysis; Audit In Depth
14.
Review of Internal Control
l
Review of Purchasing
Operations
l Review of Efficacy of Management Information System
l
Review of Selling and Distribution
Policies and Programmes
l
Review of Manufacturing
Operations
l
Review of Personnel
Policies
l
Appraisal of Management
Decisions
15.
Audit Engagement and Documentation
l
Audit Procedures: Audit
Plan, Audit Programme, Vouching and
Verification
l Documentation: Audit Working Papers and Files
l Sampling, Test Checking, Techniques of Test Checks
PAPER
6: CAPITAL MARKET AND SECURITIES LAWS (100 Marks)
Level
of Knowledge: Expert Knowledge
Objective: To acquire knowledge and understanding of securities laws and the regulatory
framework of capital markets.
Contents:
Part
A: Capital Market (60 Marks)
1. Overview of Capital Market l Indian Capital Market
l Authorities Governing Capital Markets in India l Profile of Securities
Market
l Securities Market Reforms and Regulatory Measures to Promote
Investor
Confidence
l
Features of Developed
Capital Market: IOSCO
l
Overview of Depository
System in India
2.
Capital Market Instruments and Rating
l
Capital Market
Instruments: Equity, Debentures,
Preference
Shares, Sweat Equity, Non-Voting
Shares, Share Warrants l Pure, Hybrid and Derivatives
l Rating and Grading
of Instruments: Concept,
Scope and
Significance,
Regulatory Framework
l
Rating Agencies in India,
Rating Methodologies
3.
Securities Market Intermediaries
l
Primary Market and
Secondary Market Intermediaries: Role and Functions, Merchant Bankers, Stock
Brokers, Syndicate
Members, Registrars,
Underwriters, Bankers to an Issue, Portfolio Managers, Debenture Trustees,
Foreign Institutional Investors, Depositories, Depositories Participants,
Custodians, Credit Rating Agencies, Venture Capitalists
4.
Market Infrastructure Institutions -
Stock Exchanges
l
Functions and Significance
of Stock Exchanges
l Operations and Trading Mechanism of Stock Exchanges
l Settlement of Securities,
Stock Market Indices,
Risk
Management, Surveillance
Mechanism at Stock
Exchanges,
Straight
through Processing
l
Demutualization of Stock
Exchanges
l
SME Exchange
5.
Debt Market
l
Debt Market: Instruments,
Listing, Primary and Secondary Segment
6.
Money Market
l
Growth of Money Market in
India : Structure and Institutional
Mechanism
l
Money Market Instruments:
Treasury Bills, Commercial Bills,
Commercial Paper, Factoring Agreements & Discounting of Bill
7.
Mutual Funds
l
Mutual Fund: Introduction,
Definitions, Schemes, Risks Involved,
Setting Up of Mutual Funds, Role in
Financial Market l Advantage of Investment in Mutual Fund
l Concept of Trustee and
Asset Management Company l Legal & Regulatory Framework
l Offer Document, Accounting Valuation & Taxation
l Investment
Management: Equity & Debt Portfolio, Measuring & Evaluating Mutual Fund
Performance
l
Investor's Rights and Obligations
8.
Venture Capital
l
Concept of Venture Capital
l
Registration, Investment
Conditions and Restrictions
l
Foreign Venture Capital
Investors
l
Private Capital Funds
9.
Collective Investment Schemes
l
Regulatory Framework
l Restrictions on Business Activities
l Submission of Information and Documents
l Trustees and their Obligations
10.
Resource Mobilization in International
Capital Market
Listing of Securities Issued Outside India n Foreign Currency
Convertible Bonds n Global Depository Receipts
n American
Depository Receipts
n External
Commercial Borrowings
l
Procedure for Issue of
Various Instruments
11.
Indian Depository Receipts
l
Indian Depository Receipts:
Procedure for Making Issue of IDRs, Conditions for Issue of IDRs, Listing of
IDRs
Part B: Securities Law (40
Marks)
12.
Securities Contracts (Regulation) Act,
1956
13.
SEBI Act, 1992
l Objective, Power and Functions of SEBI
l Securities Appellate Tribunal, Appeals, Appearance before SAT
14.
Depositories Act, 1996
l Definitions, Setting up of Depository, its type, Role and
Functions l Depository Participants
l Admission of Securities
l Difference between Dematerialization & Rematerialisation l Depository Process
l Inspection and Penalties
l Internal Audit and Concurrent Audit of Depository Participants
15. Issue and Listing of Securities l Listing of Securities
l Issue of Capital and Disclosure Requirements (ICDR)
l Procedure for Issue of Various Types of Shares and Debentures l Employee Stock Option
Scheme and Employee Stock Purchase
Scheme
l
Delisting of Securities
16. Regulatory Framework relating to Securities Market
Intermediaries
l
Primary Market and
Secondary Market Intermediaries: Role and
Functions, Merchant
Bankers, Stock Brokers,
Syndicate
Members, Registrars, Underwriters, Bankers to an Issue, Portfolio
Managers, Debenture
Trustees, Foreign Institutional Investors,
Custodians, Credit Rating
Agencies, Venture Capitalists
17.
An Overview of Law relating to Insider
Trading and Takeovers
PAPER 7: INDUSTRIAL, LABOUR AND GENERAL LAWS (100Marks)
Level of
Knowledge: Working Knowledge
Objective: To acquire
knowledge and understanding of Industrial, Labour and General Laws.
Contents:
Part A:
Industrial and Labour Laws (70 Marks)
1. Factories Act, 1948 l Object and Scope
l Application and Major Provisions of the Act
2. Minimum Wages Act, 1948 l Object and Scope
l Application and Major Provision of Minimum Wages Act
3. Payment of Wages Act, 1936 l Object and Scope
l Application and Major Provisions of the Act
4.
Equal Remuneration Act, 1976
l Object
and Scope
l
Application and Major
Provisions of the Act
5.
Employees' State Insurance Act, 1948
l
Object and Scope
l
Application and Major
Provisions of the Act
6. Employees' Provident Funds and Miscellaneous Provisions Act,
1952
l
Object and Scope
l
Application and Major
Provisions of the Act
7.
Payment of Bonus Act, 1965
l
Object and Scope
l
Application and Major
Provisions of Payment of Bonus Act
8.
Payment of Gratuity Act, 1972
l
Object and Scope
l
Application and Major
Provisions of Payment of Gratuity Act
9.
Employees Compensation Act, 1923
l
Object and Scope
l
Application and Major
Provisions of the Act
10.
Contract Labour (Regulation and
Abolition) Act, 1970
l
Object and Scope
l
Application and Major
Provisions of the Act
11.
Maternity Benefit Act,1961
l
Object and Scope
l
Application and Major
Provisions of the Act
12.
Child Labour (Prohibition and
Regulation) Act, 1986
l
Object and Scope
l
Application and Major
Provisions of the Act
13.
Industrial Employment (Standing Orders)
Act, 1946
l
Object and Scope
l
Application and Major
Provisions of the Act
14.
Industrial Disputes Act, 1947
l
Object and Scope
l
Application and Major
Provisions of the Act
15.
Trade Unions Act, 1926
l
Object and Scope
l Application and Major Provisions of the Act
16. The Labour Laws
Exemption from Furnishing Returns and Maintaining Register by Certain
Establishments Act, 1988
l Object and Scope
l
Application and Major
Provisions of the Act
17. Employment Exchanges (Compulsory Notification of Vacancies) Act,
1959
l
Object and Scope
l
Application and Major
Provisions of the Act
18.
Apprentices Act, 1961
l
Object and Scope
l Application and Major Provisions of the Act
19. Labour Audit covering
the above Acts and those Industry specific Acts
Part B: General Laws (30 Marks)
20.
Constitution of India
l Broad Framework of the Constitution of India: Fundamental Rights, Directive
Principles of State Policy
l Ordinance Making Powers of
the President and the Governors l Legislative Powers of the Union and the States
l Freedom of Trade, Commerce and Intercourse
l Constitutional Provisions relating to State Monopoly
l Judiciary, Writ
Jurisdiction of High Courts and the Supreme Court l Different Types of Writs - Habeas Corpus, Mandamus,
Prohibition, Quo
Warranto and Certiorari
l
Concept of Delegated
Legislation
21.
Interpretation of Statutes
l
Need for Interpretation of
a Statute
l
General Principles of
Interpretation
l
Internal and External Aids
to Interpretation
l
Primary and Other Rules
22. An Overview of Law
relating to Specific Relief; Limitation and Evidence
23.
Code of Civil Procedure
l Elementary Knowledge of the Structure of Civil Courts, their
Jurisdiction
l Basic Understanding of Certain Terms - Order, Judgment and
Decree, Stay Of Suits, Res Judicata
l Suits by Companies, Minors
l Basic Understanding of
Summary Proceedings, Appeals,
Reference,
Review and Revision
24.
Indian Penal Code and Criminal
Procedure Code
l Important Definitions and Salient Features, Mens Rea
l Cognizable and Non-Cognizable Offences,
Bail, Continuing
Offences,
Searches,
l
Limitation for taking
Cognizance of Certain Offences
25.
Right to Information
l
Salient Features of the
Right to Information (RTI) Act, 2005
l
Objective
l
Public Authorities &
their Obligations
l
Designation of Public Information Officers (PIO) and their
Duties
l
Request for Obtaining
Information
l
Exemption from Disclosure
l
Who is excluded
l
Information Commissions
(Central & State) and their Powers
l
Appellate Authorities
l
Penalties
l
Jurisdiction of Courts
l
Role of Central/State
Governments
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