All financial information should be filled in only in absolute figures, for example the gross business income of the company is 2 lakhs 56 thousand 2 hundred 56 rupees are mentioned as 2,56,256 and not as 2.56 lakhs. Editing ICAI records: Any changes to data in the green field will only be reflected in the FEM application if they are reflected in ICAI records in accordance with the SSP. However, applicants may notify the FEM of such an amendment by grey samples for verification with the SSP. Editable information: White fields are editable fields that contain last year`s FEM data that needs to be updated by applicants based on facts/requirements. Before submitting, the form can be downloaded and printed for further review. The Institute of Chartered Accountants of India (ICAI) has extended the MEF filing deadline 2022-23 to November 9, 2022. The Institute reserves the right to request additional information or documentation from the applicant as it deems appropriate. The MEF for fiscal year 2022-23 was hosted by the ICAI on the MEFICAI website. CA companies interested in assigning bank/branch audits can submit their MEF online 2022-23. The deadline for submission of the MEF 2022-23 has been extended by the ICAI from 28.10.2022 to 09.11.2022, see German announcement 21/10/2022. The declaration is only valid if OTP is validated by all partners/owners/members on their individual behalf.
If even a partner has not validated, the FEM request will be rejected. However, in the case of the partner(s) who left between 01/01/2022 and the second review*, all these changes must be made via the ICAI SSP. The Multipurpose Registration Form (MEF) for the year 2022-23 is online at meficai.org. In view of the various requests made by ICAI members, the Professional Development Committee has decided to extend the deadline for submission of the multipurpose coating form for the year 2022-23 from 28 October 2022 to 9 November 2022. Registration/Login: You can register for MEF 2022-23 at MEFICAI.org with last year`s credentials (i.e. MEF 2021-22). However, if you have forgotten your password, you can recover it by clicking on the “Forgot Password” button. It is desirable that the draft FEM application be made available to all partners for internal inspection before being submitted so that they can validate the declaration on OTP. If a partner wishes to upload their financial documents to MEF, they can do so by taking the named partner`s credentials.
The deadline for submitting the form and online declaration is November 9, 2022. The Institute of Chartered Accountants of India (ICAI) has announced that all full-time members are advised to complete the Multi-Purpose Registration Form (MEF) for the year 2022-23. And the information entered by the applicant in the MEF can be edited / modified as many times as desired before the final online filing. Companies that exist on January 1, 2022 and members who hold a full-time practice certificate at that time (i.e. 01.01.2022) can only submit MEFs. i) FRN and date of incorporation if the applicant is a partnership/LLP/owning company. If you are a practising accountant, you are invited to submit the MEF form online for the year 2022-23 to www.meficai.org. Chartered Accountants/CA LLP firms can apply for the MEF on the website, MEFICAI.ORG which displays status as of January 1, 2022. ICAI Guidance Note on Bank Audit (2022 Edition) Members are advised not to correspond directly with relevant authorities such as RBI, NABARD, etc. on coating-related issues.
ANNOUNCEMENT OF EXTENSION OF THE GEF SUBMISSION DEADLINE 2022-23 FROM OCTOBER 28 TO NOVEMBER 9, 2022 Applicants must upload the financial documents before submitting the FEM by clicking on the icon. Any changes will only be accepted into the MEF records in accordance with MEF/RBI standards at the time of panel preparation. Applicants who are not eligible for the bank branch auditor panel will also be assigned UCN so that their data can be shared with various authorities requesting the panel for other bank audits and other assignments. However, UCN will not be awarded to the following applicants: ICAI Opinion on the division of work between banks` joint auditors Financial statements, i.e. balance sheets, income and expense accounts are not required for applicants who have opted for the tax presumption regime under Section 44ADA of the Income Tax Act 1961 and have filed their ITRs. accordingly for fiscal year 2020-21. Applicants may be invited to submit more details, if applicable, by the CFP (Professional Development Committee). MEFICAI has published a series of 80 FAQs on MEF 2022-23 to explain/clarify various issues related to eligibility, login, submission of the integration application, subsequent procedures, etc. Members acting on behalf of an individual, but who have a proprietary business, should only apply through FRN as the owning corporation. ICAI announcement dt. 06/10/2022: Hosting of the Multipurpose Registration Form (MEF) for fiscal year 2022-23 RBI Standards for the appointment of Bank CSAs from 2017-18 If both/all companies apply, the MEF of all these companies will be rejected for the panel of bank branch auditors.
Applicants who have opted for the presumption tax regime under section 44ADA of the Income Tax Act 1961 and have filed their ITRs accordingly for the 2020-2021 fiscal year must select the appropriate tab on the Financial Documents page. These applicants are not required to submit balance sheets and income and expense accounts. Associate Partner: Associate members with more than one concern, as indicated below, including for one day during 01.01.2022 until the second review, will not be treated as exclusively affiliated with the relevant applicant: For any clarification/request/complaint regarding MEF 2022-23, please submit them under the “MEF Complaint Entry” tab available at meficai.org for quick resolution. New applicants: Registration is required for applicants who have not submitted the MEF 2021-22. This can be done with: – Details of the joint partner(s) and their association in the companies and/or in the individual name/unique practice are displayed after registration for FEM. Unauthorized editing: The FEM application provides the ability to fill and save page by page, which can be edited as many times as desired before submission, but cannot be changed once submitted. Categorization, rotation and inactivity criteria are in accordance with the applicable standards of the Reserve Bank of India and may change from time to time.