‘Jnana Yajna’ 41st Regional Conference of
Chartered Accountants Begins in Hyderabad
CA’s not
affected by Recession says ICAI PresidentNew
Initiatives include Encouraging Farmers to Know Financial Statements
and ‘Green Alert’
Hyderabad|India|August'2009: The two-day conference organised by
SIRC of ICAI titled ‘Jnana Yajna’ got underway at the International
Convention Center at HICC, Hyderabad focusing on the world-wide migration
to a common financial reporting language known as International Financial
Reporting Standards (IFRS), eXtensible Business Reporting Language &
Evolving Issues in Non Resident Taxation and Forensic Accounting & Fraud
Detection.
Dr. Y S Rajasekhara Reddy, Hon’ble Chief Minister of Andhra Pradesh
inaugurated the event and CA Uttam Prakash Agarwal, President ICAI
delivered the keynote address on the opening day. In his speech the Chief
Minister urged CA community to be more guarded on Accounting Certification
and inculcate stronger financial discipline.
More than 3700 CA’s participated the gathering. Others in attendance
included senior ICAI council members, Financial Accounting regulators and
many international financial reporting experts.
"The 41st Regional SIRC conference is timely as Indian and global
marketplace has accelerated the need to migrate to new sets of financial
standards that are so very vital in better corporate governance today,"
said CA Devaraja Reddy, Chairman, SIRC of ICAI. We are confident that
India will be well served by not only IFRS but all the finest financial
regulatory practices in today's emerging global economy."
Speaking on the occasion President of ICAI CA Uttam Prakash Agarwal, said
CA’s are not affected by Recession’. We continue to recruit and our young
CA’s even during the recession get significant pay Cheque. The role of CA
he said is becoming increasingly significant today. As part of social
responsibilities initiatives of ICAI, he urged institute members to advice
farmers and to help them prepare financial statement which can be
presented to banks for loan disbursements.
The institute is also putting up a proposal to the Insurance Regulator to
devise a scheme for the farmers. The Role of CA’s are expanding and with
technology playing a central role in industries; accountants must be ready
to offer services in the technology environment. They need to adapt
themselves with `non-financial information' such as in marketing, human
resources and technology which impact the numbers, he said.
ICAI has also helped country like Nepal to establish CA institute
providing them technology and much needed support. It will also explore
possibilities to sign MoU with other nations across the world.
The ICAI conducts research into current business issues and supports the
setting of accounting, auditing and assurance standards for business,
not-for-profit organizations and government. It issues guidance on control
and governance, publishes professional literature, develops continuing
education programs and represents the CA profession nationally and
internationally.
The Conference will also feature a cultural evening with host of exciting
events on 29th August 2009 evening for ICAI members and their families.
CA K Rahman Khan, M.P, Hon’ble Deputy Chairman, Rajya Sabha, will be the
chief guest for the Valedictory session. The Valedictory address will be
made by CA. Amarjit Chopra, Vice-President –ICAI.
