The Hindu Business Line : Accountancy professional bodies form core group

The three professional bodies of cost and work accountants, company secretaries and chartered accountants have formed a core group that would take up common interest issues and suggest a further course of action, an ICWAI release said.

Core group constitution

The core group is to consist of three council members and three senior officers of the institutes. Their suggestions will be reviewed by the respective councils of the three institutes and will be placed before the Co-ordination Committee.

The Institute of Cost and Work Accountants of India, Institute of Chartered Accountants of India and Institute of Company Secretaries of India co-ordination committee meeting was held here on Wednesday.

The meeting was chaired by Mr D.V. Joshi, President, ICWAI. Mr T.N. Manoharan, President, ICAI, and Mr H.M. Choraria, President, ICSI, and other senior members attended the meeting.

Issues discussed

Issues taken up included moves to strengthen the professional capabilities of the accounting fraternity in India to face the challenges of opening up of the accounting sector under the WTO. The issue of amending the Acts of the three institutes was discussed to harmonise the steps in developing cohesive arrangement for formation of multidisciplinary partnerships. Multidisciplinary partnerships are structures that allow professionals from different institutes to practise together under the same firm.

Other issues discussed included holding joint professional development programmes, sharing common resources and infrastructure.

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