ICAI Conference to address accounting, auditing challenges in India, abroad

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AccountingMUMBAI: India is currently witnessing myriad accounting and auditing challenges. In the wake of the recent storm in the telecom, sports and IT sectors, the risk management and quality control aspects in audit assume an importance like never before.

The Western Region of The Institute of Chartered Accountants of India (ICAI) is organising a two-days Regional Conference on the theme of ‘Embracing Change’ on November 19-20in Mumbai.

The conference will be addressing various contentious issues and emerging challenges, especially on accounting, auditing, fiscal laws, business finance and corporate governance.

The Conference will be inaugurated by Hon. Chhagan Bhujbal, Cabinet Minister, State of Maharashtra, and will have some eminent speakers such as L&T’s CA Y M Deosthalee, Padmashree CA T N Manoharan, ADAG’s CA Gautam Doshi, CA Mukund Chitale, CA Deepak Ghaisas and many other prominent leaders from the industry and profession. CA Amarjit Chopra, President, ICAI, and Vice President CA G. Ramaswamy shall also be addressing the conference at the NCPA Auditorium, Nariman Point.

Crucially, this conference seeks to address some of the vital challenges being faced by the accounting world as well as the financial community amid the fast-changing global and domestic economic environment. The conference will also delve on how these changes and financial misdemeanours by a few companies have prompted the regulators, society and other stakeholders to put a greater responsibility on the accounting profession.

The conference will deliberate at length on Fair Value Accounting, which is one of the very important and all-pervasive changes in the IFRS, and its impact on businesses, valuations and markets.

The seminar will also examine how the likely provisions of General Anti Avoidance Regulations in the Direct Tax Code shall have a far-reaching impact on the administration of fiscal statutes in near future.

Another issue which will see some deliberations involves Indian corporates looking to make global acquisitions. These sessions, helmed by eminent finance professionals like Mr Y M Kale and Mr Hiten Kotak will have important discussions on issues of acquisitions, structured finance among others. The issue of corporate governance promises to be another keenly discussed topic.

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