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Wednesday, Mar 13, 2002

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Meet to discuss Enron impact on accounting

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NEW DELHI, March 12

THE International Federation of Accountants will hold a three-day board meeting in Tunisia from March 18 to discuss various issues arising out of the collapse of Enron Corporation and their implications for the accountancy and auditing profession.

The responsibility and accountability of the board of directors and the audit committees have come in for closer scrutiny in the recent months, especially after Enron's collapse.

According to Mr N.D. Gupta, member on the board of IFAC and past President of the Institute of Chartered Accountants of India, IFAC is planning to form an international task force of investors, directors and auditors to make recommendations on the role and composition of audit committees and their responsibility to the shareholders.

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