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| ICAI, CAG organised training for autonomous bodies’ officers | | | EARLY TIMES REPORT
JAMMU, June 24: The Institute of Chartered Accountants of India (ICAI) is organizing series of training programme in collaboration with the office of The Comptroller and Auditor General of India (C&AG) for the officials of Autonomous Bodies. The first such programme for accounting personnel of these bodies was organized in Mumbai on 23rd & 24th June 2011 for the autonomous bodies of Maharashtra, Madhya Pradesh, Goa & Chattisgarh.
The programme was inaugurated by CA. G. Ramaswamy, President ICAI in the presence of Shri K.P. Sasidharan, Director General (Autonomous Bodies) office of C&AG of India.It was also attended by CA. Anuj Goyal & CA. Sanjeev Maheshwari, Central Council Members, ICAI.
To remain relevant in this rapidly changing world, every institution has to consciously review and modernize its procedures and practices. Demand for greater transparency and more effective financial reporting has made it necessary to comply with the accepted accounting standards, and also ensure that these standards are properly applied.
The objectives of these training programmes is to fill the gap and help the organizations to familiarize with the concepts and techniques of the financial reporting and adherence to the uniform format of accounts prescribed by the committee of experts.
The Training Programme will dwell on the issues related to Basic principles of Accounts such as principle of accrual accounting, dual concept, going concern concept and consistency concept, Uniform Format of Accounts, Internal Control, Practical Problems related to preparation of annual accounts of ABs, Accounting Standards – An overview – AS 1, 4,5, 10, 6, Accounting Standards: 9, 12, 13, 15, 21, 29 and Introduction of IFRS.
The programme was attended by over 150 officials of Autonomous Bodies and members of the profession. The backgrounder for the training programme was also released during the inaugural session.
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