Tamil Nadu - Tiruchi   

‘ICAI to meet international standards'

— Photo:M.Moorthy

WELL DONE! Amarjit Chopra (second from left), president, ICAI, honouring P.Babu Srikanth, all-India topper in the CA exams here on Wednesday.

TIRUCHI: The Institute of Chartered Accountants of India (ICAI) is committed to meeting the deadline for convergence of the Indian Accounting Standards with the International Financial Reporting Standards (IFRS) from April this year in select entities as per the roadmap laid down by the government, said Amarjit Chopra, president of ICAI, here on Wednesday.

Speaking at the regional seminar organised by the Tiruchi branch of the ICAI, Mr Chopra said the ICAI had already launched a nationwide campaign to spread awareness and popularise the convergence of India's accounting standards with the IFRS. The convergence would provide comprehensive benefits to the society in general and economy in particular.

Most of these standards had been considered by the Council of the ICAI and were also being considered by the National Advisory Committee on Accounting Standards (NACAS) simultaneously. The standards would soon be ready for notification by the government, he said.

ICAI has started IFRS certificate and IFRS e-learning courses. Thirty-eight batches have so far been completed and more than 2,000 students have undertaken the courses. It is planning to introduce unique code numbers (UCD) to its members to check fraudulent practices, including forged attestations.

Mr.Chopra said ICAI was planning to provide coaching classes by the faculty members through virtual and physical medium to the students pursuing Chartered Accountancy programme. Application-based questions in the Common Proficiency Test (CPT), Professional Competence Course (PCC), and Integrated Professional competence Course (IPCC) would be introduced in order to enhance the critical skills of students.

There were 126 branches of ICAI in the country with 1.72 lakh members. Of this, 17 per cent were women. About six lakh students, 40 per cent of them women, were pursuing chartered accountancy course. Mr Chopra honoured P.Babu Srikanth of Tiruchi who had secured the 42 {+n} {+d} rank at the all-India level in the CA final examination held in November last year. \V.Jayaraman, Chairman of the Tiruchi branch of the ICAI, said members from the ICAI branches from Kumbakonam, Madurai, Tirunelveli, Tuticorin and Puducherry participated in the seminar. Four technical sessions were conducted during the seminar and chartered accountants V.Alagappan, S.Srivatsan, S.Santhanakrishnan and G.Ramesh Kumar spoke on service tax, assessment procedures, road map to IFRS, and capital gains.

G.Ramaswamy, vice-president of ICAI; Babu Abraham Kallivayalil, chairman of Southern India Regional Council of ICAI; K.Shanmukha Sundaram, vice-chairman of South Indian Regional Council ; A.Victor Samuel, secretary of Tiruchi branch of ICAI, spoke on the occasion.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Making education creative, enjoyable
BHEL set to achieve all-time high turnover
Tiny tots engage mature audience with aplomb
‘Railway strives to upgrade passenger amenities'
‘ICAI to meet international standards'
Chennai wins Subburaman cup
Applications invited for renovation of houses
Youth employment generation programme begins in right earnest
Railway retiree found murdered
Labourer killed in accident
Patriotism unfurled on Republic Day
Keep abreast of schemes, villagers told

Copyright © 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu