• PAGE ONE
• INDEX
• HOME

ICWAI plans push to perspective plan

Our Bureau

KOLKATA, Aug. 10

THE Institute of Cost and Works Accountants of India (ICWAI) is considering ways to implement the `perspective plan' that was laid out some time ago by a working group led by one of its former presidents, Mr V. Kalyanaraman.

Some of the salient points discussed in the plan related to education and training of students, marketing of cost accounting services and the competition being faced by cost and works accounting professionals.

Mr V.V. Deodhar, the newly-elected President of ICWAI, said the institute was looking at ways to ``take the perspective plan forward'' with the intention of getting closer to the ground realities. In order to be successful on this count, ICWAI would have to work closely with industry, Government agencies and other professional organisations.

``Apart from the perspective plan, we have to focus on a number of issues that have lately come to the fore. The ICWAI members and students, in the emerging scenario, must be made aware of cost audit report rules and coverage of new industries by cost au dit, among other things'', he told Business Line.

ICWAI would like cost accountants to cater to the growing demand for their services in areas such as environment and energy management, public utilities, consumer and investor protection etc.

Accounting professionals would need to focus on other newer areas such as transfer pricing, especially so in the context of global developments. All this would actually add to the institute's responsibility towards its members, Mr Deodhar said.

From an international perspective, issues that could affect cost accountancy include the WTO, dumping and labour laws.

The perspective plan, incidentally, referred to the need to create a directorate for marketing, detached from the general initiatives on professional development.