Financial Daily from THE HINDU group of publications
Tuesday, Sep 10, 2002
Financial Daily from THE HINDU group of publications Tuesday, Sep 10, 2002 |
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Opinion
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Letters Challenges before CAs
This refers to the opinion aired by Mr S. Gurumurthy, Convener, Chartered Accountants Action Committee. He was not in favour of the forceful implementation of the Basle (Bank for International Settlement, Basle) norms on banks, without examining their suitability and modifying them for the Indian environment. In the western countries, banking is backed by sophisticated technological inputs. But it is still mass banking in India. Hence, what is applicable to other developed countries, particularly the US, may not exactly fit in the Indian conditions. The CA profession should wake up to the realities and contribute to the creative accounting concepts on various issues such as ESOPS, intangible assets, company or business valuation, brand valuation, human capital assessment, intellectual property rights, and so on. The Institute of Chartered Accountants of India has a more positive and educative role to play in meeting the new challanges in the accountancy profession, which is no longer confined to book-keeping. R. S. Raghavan
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