Financial Daily from THE HINDU group of publications
Saturday, Dec 21, 2002
Financial Daily from THE HINDU group of publications Saturday, Dec 21, 2002 |
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Corporate
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Accountancy CAs urged to widen scope of services Our Bureau
KOLKATA, Dec. 20 THE Institute of Chartered Accountants of India (ICAI) would like its members to pursue opportunities to provide value-added consulting services to their clients. The scope of such services, it was felt, has broadened in recent times because of emerging business and social trends. The basic function of the accounting profession remained `assurance' — that is, confirmation of the financial assertions of clients, said Mr Rahul Roy, past-president of ICAI, adding that a lot more could be done if accountants went beyond mere assurance to cover new areas. He was addressing the 27th eastern India regional conference of the institute on Friday. There was, for instance, considerable scope for the ICAI members in terms of measuring social impact and effectiveness of the Government policies. Social effectiveness reporting was not a small matter in certain advanced countries, he said. ``New areas of assurance are coming up fast, especially so in the context of advances in information technology, which has become the backbone of all enterprises'', Mr Roy said.
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