The Institute of Chartered Accountants of India (ICAI) formed by an Act of Parliament as a Statutory Body on 1st July 1949 for regulating the profession of Chartered Accountancy is organizing a Three Day International Conference on the theme “Accountancy Profession: Leveraging Emerging Challenges for Inclusive Growth” at Chennai Trade Centre, Chennai from January 6th to January 8th, 2012.
The Conference is being inaugurated by the Hon’ble Union Finance Minister Shri Pranab Mukherjee on January 6, 2012 at 1.45 p.m. in the presence of plethora of participants from India and abroad. Hon’ble Union Minister of Corporate Affairs, Dr. M. Veerappa Moily and Hon’ble Deputy Chairman, Rajya Sabha, CA. K.Rahman Khan shall be the Guests of Honor at the event. CA. G. Ramaswamy, President, ICAI will preside over the Inaugural Session and CA. Jaydeep N. Shah, Vice-President, ICAI will participate in the Inaugural Session along with Shri T Karthikeyan, Secretary, ICAI.
The Conference is intended as a forum for establishing interface with regions most influential thought leaders in the field of accounting, finance & business. Participants from academics, researchers, practitioners and policy makers will share their insights towards cutting-edge information on global trends, issues and challenges.
The Conference shall dwell upon many important topics of economic relevance. Some of the major thematic issues of the Conference are:
Towards Globalized Accounting Framework - A Reality Check
Value Creation through Innovation & Entrepreneurial Vision
Professional & Social Panorama
Accountancy Profession: Serving a Wider Landscape
Financial Sector - Fulcrum of Inclusive Economic Growth
Harmonization of International Auditing Standards - International & Indian Perspective
Encouraging Good Governance through Market Mechanisms
Emerging Paradigm of Accounting Profession
The Conference comes at most apt time when the Accountancy profession is rededicating itself to newer level of commitments for meetings demands of trust, relevance, expectation gap and utility. The focus is now on adherence to high values, by focusing on sustainability and in process espousing the concerns of varied set of stakeholders including the small & medium sized entities. This could happen when the all pervasive role of accountancy profession extends beyond corporates to niche areas including governmental accounting and addressing the society’s perception by devising appropriate frameworks in the nature of input output approach. Innovation, increased accountability & transparency, governance & reporting and addressing to relative comparative advantages are what would be the “Mantras” for success in times to come. The Accountancy Profession serves public interest and would need to continue to commit itself to a holistic development of a society. The three days Conference would enlighten the distinguished gathering on some of these core issues.
There are various technical sessions during 3 days Conference which shall be addressed by eminent personalities from Government Sector, Regulators, Global Accountancy Forums, Industry and Practitioners etc. The list of the speakers is attached.
ICAI Awards for Excellence in Financial Reporting: The Institute holds annual competition for ‘ICAI Awards for Excellence in Financial Reporting’ with a view to promote better standards in the presentation of information in the financial statements of the corporate as well as not for profit organizations and various local bodies. This year, the function to honor the awardees would be organized on January 6, 2012 at 2.30 p.m. along with the International Conference at Chennai.
These awards are being presented annually since 1958 with selection of best entries, in specified categories being made through a robust three tier evaluation process. The evaluation is carried out on the basis of compliance with Accounting Standards and relevant applicable laws, corporate governance perspective, quality, nature and manner of presentation of financial information in the annual reports. This year the competition was under 16 categories and more than 220 entities participated across various categories.
The Jury for the awards consisted of eminent personalities from various walks of life. The distinguished Jury meet was chaired by Shri A.K. Awasthi, Deputy Comptroller & Auditor General (C& AG). The Jury members are as below:
CA. B.A. Prabhakar, CMD, Andhra Bank & Former ED, Bank Of India
Shri.A.K.Purwar, Chairman, India Venture Advisors Pvt. Ltd. & Former Chairman, SBI
CA.Anand Rathi, Chairman, Anand Rathi Group
CA. K. K. Maheshwari, Business Director, Aditya Birla Group
Sh. M. Ramaprasad, Member (Non-Life), IRDA
CA. Rakesh Jhunjhunwala, Investor and Partner, RaRe Enterprises
CA.Vallabh Bhanshali, Chairman, Enam Securities Ltd.
CA.V.K. Chopra, Former Member, SEBI & Former CMD,Corporation Bank & SIDBI