ICAI International Conference gets underway

Chennai, Jan 11 (UNI) The Institute of Chartered Accountants of India (ICAI) is hosting an International Conference on 'Role of Profession in New Milieu' beginning today.

Rajya Sabha Deputy Chairman K Rahman Khan inaugurated the three-day conference, in which 1,000 delegates from more than 15 countries were participating.

Speaking on the occasion, Mr Rahman Khan said accountants in India will have to play an active role for the overall economic growth of the country.

"Chartered Accountants should not only be confined to the private firms but also extend their services to government organisations," he pointed out.

"About 30 per cent of government expenditure is getting wasted every year due to lack of transparency and false reporting," he said adding "now its high time the accountants' profession across the country should take up the challenge to minimise the wastage of government expenditure." ICAI President C A Manoharan said the conference would provide an unique opportunity for professionals to have an insight into the emerging dynamics of the profession and the way to excel in professional arena in light of the latest developments in the field of accounts.

"The conference will show case the best country practices whereby the delegates can empathise with the emerging scenario and develop an international perspective to excel in the profession," Mr Manoharan added.

Mr Manoharan further pointed out that the event also coincides with the meetings Accounting Standards Board and Auditing and Assurance Board of ICAI and the International luminaries would address these representative meetings which would provide a two-way dialogue.

International speakers including International Federation of Accounts (IFAC) President Fermin Del Velle and Turkish Auditing Standards Board Chairman Masum Turker and South Asian Federation of Accounts President Indajith Fernando will participate in the conference.

UNI