Visakhapatnam, Oct 23 (UNI) The Institute of Chartered Accountants of India (ICAI) President C A Ved Jain today inaugurated the two-day All India Conference titled 'Prajna-Universal Perception' at Port Trust in the city.
In his address, Mr Jain said all genuine knowledge originated from direct experience and extensive interaction.
For learning to take place with any kind of efficiency, students must be motivated to continue education.
Talking to mediapersons after the inaugural, Mr Jain said globalisation and the consequent growth of Indian economy resulted in the growth of tax revenues.
As a natural corollary, several important issues in domestic and international taxation had risen, members of the profession have been given onerous responsibilities under the Income Tax Act.
Auditing and Taxation constituted the core competence areas for the members.
With increasing complexity in taxation laws, there was a need for the ICAI members to keep abreast of the changes.
At the same time, while performing their role they should discharge responsibilities within the framework of the Code of Conduct and Disciplinary Mechanism.
The ICAI decided to launch a Certificate Course on Valuation and Arbitration for its members.
The Institute would start chapters in the US and Zambia very soon, he revealed.
UNI XR GM SV CS1540