To assist the Council in determining and defining the objectives of the accountancy profession and amending or restructuring such objectives in keeping with the increasing or changing duties and responsibilities of the profession and development of the profession.
To determine the manner and the form in which guidance should be provided to members in regard to professional matters other than those specifically falling within the functions of any other Committee.
To consider the different ways in which the profession could be of assistance in promoting social or economic goals having regard to the present thinking of the society and its changing expectations.
To assist the Council in educating public on matters affecting the profession.
To explore and develop new professional avenues for members in profession in India and abroad.
To associate with the regulatory or other representative bodies of users of services of the profession in preparation of panels of CAs, suggesting and/or developing mechanism for fair allotment of professional assignment and other related matters.
To formulate guidelines for auditors’ empanelment and to interact with the concerned authorities.
To act as an integrated hub for research, dialogue, inputs in policy formulation in the context of financial services.
To provide inputs to Government and other constituents and handhold their initiatives for reforms in the Committee’s domain through members and students of the Institute.
To identify core issues which have a bearing on the financial services and in context of the value-added services being provided by the chartered accountancy profession to the stakeholders.
Capacity Building of members by providing specific competency development modules such as imparting Post Qualification Courses like DIRM/Certificate Course, etc. on the contemporary areas in the domain of the Committee and training programmes for Independent Directors, CA Directors jointly with various professional bodies/regulators among others.
To bring out publications, booklets and other useful materials on the emerging and allied areas for the overall development of the profession.
To organize training courses, seminars, programmes, workshops (residential/non-residential) within India or outside for members and others on the areas related to Banking, Financial services and Insurance, tender guidelines etc on standalone basis and/or in association /jointly with various Ministries, Regulators, Branches, Regional Council and other bodies/associations within the domain of the Committee and other areas which may seem beneficial to members.
To monitor the tenders floated by the organizations prescribing minimum fees and giving fair opportunity to all members.
To collect and disseminate details of tenders for professional services, amongst the practicing members.
To conduct out-reach programs for authorities related to tenders.
To take up with Government and other relevant authorities issues relating to determining the manner of evaluation of tenders for professional services giving due weightage to quality i.e. Quality & Cost Based Selection (QCBS) method and including audit services in Fixed Budget - based Selection (FBS) method.
To guide members and resolve their queries and grievances.
To update the format to capture and seek cost sheet/ details from the Firms/ Members applying for Professional Tender Services for the internal analysis for maintenance of quality and adherence of prescribed guidelines - both at pre-bidding and post-bidding stage.
To develop a mechanism for monitoring and analyzing the responses of the members on tenders and may refer the deviations at appropriate level.
To lay down a mechanism for erring firms for further suitable/ necessary action.
To deal with such other matters as the Council or the President may consider appropriate.
