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Dec 14


CAs Should act as Catalyst for Evolving Transparent Processes

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Minister for Commerce and Industry Smt Nirmala Sitharaman has called upon the Institute of Chartered accountants of India (ICAI) to act as a catalyst in evolving transparent processes and ensuring accountability. She commended the role played by the ICAI in bringing about various changes in the provisions of the Companies Act. Smt Sitharaman was speaking at the 46th Regional Conference of the ICAI in Madurai a short while ago. 

The minister also made the point that professionals like CAs must apply their minds to cut “the huge undergrowth of laws, regulations and help carry the economy forward without hindrance”. She reminded that the government under Shri Narendra Modi has laid stress on transparency, ”Less government and more governance” and on implementing best practices that are scalable and that can be emulated. She called upon chartered accountants to come up with new ideas in these areas. >

The minister also made the point that professionals like CAs must apply their minds to cut “the huge undergrowth of laws, regulations and help carry the economy forward without hindrance”. She reminded that the government under Shri Narendra Modi has laid stress on transparency, ”Less government and more governance” and on implementing best practices that are scalable and that can be emulated. She called upon chartered accountants to come up with new ideas in these areas. - See more at: http://taxguru.in/chartered-accountant/cas-act-catalyst-evolving-transparent-processes.html#sthash.M7sIxdbe.dpuf




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ACCOUNTING

Asset Side of Balance Sheet cannot be isolated from Liability side

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