The Hindu Business Line : `Globalisation of auditing norms has increased scope for CAs'

With the increasing internationalisation of standards of auditing and accounting practices, the scope for the Chartered Accountants (CAs) has enlarged and the members in the profession cannot be dependent on conventional approaches.

Also, there is a rising demand for Indian CAs across the globe. In tune with the emerging scenario, the Institute of Chartered Accountants of India (ICAI) has gone in for a curriculum review and proposed changes to make the profession on par with other professional courses, starting from the school level.

The clearance from the Department of Company Affairs is awaited to the proposed changes. The Institute has a plan to aggressively market the curriculum across the country with stipend to those who pursue the course to attract the best talent to the profession, said ICAI President, Mr T.N. Manoharan, while inaugurating the one-day `National Conference on Corporate Laws', held here on Saturday.

Addressing the first technical session on `Overview of Corporate Laws,' the Executive Director, TVS Group Companies, Mr R. Dinesh said, currently the focus of the legislation is on the simplification of the law, rationalisation of various procedures under the Act, recognition of the electronic mode of filling various returns with the authorities, improving the standard and quality of the disclosure of corporates and ensuring broad-based boards of companies. While compliance with legal requirements is duty cast on every company, he suggested that ICAI may consider rating of companies on the best practices followed by companies. Optimisation of the benefits of stakeholders could be the basis for such rating, he added.

Speaking on `Networking of CA Firms' in the second technical session, Mr A. Santhanakrishnan, Corporate and Allied Laws Committee, ICAI, said networking for CAs has become necessary because the client wants expertise, experience and efficiency as a `one stop shop' in the present business environment.

Though there is lot of talk of big firms, in reality 72.7 per cent are proprietary in nature in the profession. Further, partnership structure, relationship issues and quality expectations add to the problems in the emergence of networking. However, it must be realised that networking enhances the reach and helps to raise client confidence. It provides access to specialisation, he added.

The conference was organised by the Corporate and Allied Laws Committee and hosted by the Madurai branch jointly with the Tuticorin, Tirunelveli and Tiruchirapalli branches of the Southern India Regional Council of ICAI. More than two hundred members attended.

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