Financial Daily from THE HINDU group of publications
Tuesday, Apr 02, 2002
Financial Daily from THE HINDU group of publications Tuesday, Apr 02, 2002 |
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Industry & Economy
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Education Name change proposal creates flutter at ICWAI Nilanjan Dey
KOLKATA, April 1 A SECTION of members of the Institute of Cost and Works Accountants of India (ICWAI) seems to have expressed dislike for a proposal, mooted by the highest management, to change the name of the organisation to `Institute of Cost and Management Accountants of India' (ICMAI). The rechristening proposal, prompted by modern-day exigencies in the world of accountancy, was said to have been contended on the basis of an apparently simple pretext: The manner in which the issue of definition of "accountant", as outlined in the proposal, was taken up. The definition, it may be mentioned here, stems from Section 288 of the Income-Tax Act, 1961. ICWAI is trying to persuade the Government to include its members under the purview of this section. The case has already led an e-group affiliated to ICWAI to come out with what it has called a "shocking disclosure'' — the president of the institute stating in a letter that the "accountant'' definition issue taken up by him was not liked by some members. When contacted, Mr V.V. Deodhar, President of ICWAI, sought to negate the impression that certain members have "opposed" the name-change plan. "Whatever I have to say in this regard has been stated officially. I will continue to vigorously pursue the rechristening proposal... one should not forget that the need of the hour is to focus on the positive aspects of our profession," he told Business Line. Such positive aspects, he added, related to the latest developments concerning ICWAI. These included recent initiatives on Web-based learning (for which it was in talks with members of the faculty) and preparation of study notes on account of the proposed updation of syllabi. Predictably, senior ICWAI members are keeping silent on the name-change matter in view of the points raised by the e-group. Mr Kunal Banerjee, Vice-President, for instance, declined to make an official statement on the matter. He, however, mentioned that the institute would like its members to turn into full-fledged "management accountants" as part of its modernisation drive. Meanwhile, it is believed that Dr S.R. Acharya, secretary/advisor to ICWAI, has put in his papers; the institute, too, is said to have accepted his resignation. When asked, Mr Deodhar said he did not wish to comment on this at this juncture.
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