KOCHI: A new scheme for CA education and training is ready for the final consideration of the Institute of Chartered Accountants of India (ICAI), developed with the view that accountancy profession and accountancy education should constantly go hand-in-hand with global academic, technological and economic advancements, said ICAI national president Manoj Fadnis.
Speaking to mediapersons here on Wednesday, he said the ICAI had been extending technical and infrastructure support to the accounting reforms of various government offices - moving from cash to the accrual system of accounting - after assessing the tremendous positive impact of national financial reporting.
In the beginning of the year, the ICAI took up accounting reforms at the Indian Railways, with a pilot project at the Ajmer Division to provide support for migrating from cash to the accrual system of accounting, which is currently underway.
He said the Companies (Amendment) Act - 2015 notified by the government would go a long way in ensuring ‘ease of doing business’. It includes amendments to 22 Sections of the Act. From time-to-time, the ICAI has submitted suggestions on the various challenges in the Companies Act - 2013, so as to create a conducive environment for functioning and facilitating business growth.
Earlier, Manoj Fadnis inaugurated a one-day seminar organised by the Ernakulam unit of the ICAI at Gokulam Convention Centre here.
ICAI Central Council member Babu Abraham Kallivayalil preside over the meeting.