`Limited Liability Act will help integrate professionals'
February, 05th 2007
The Lok Sabha Speaker, Mr Somnath Chatterjee, with the ICAI President, Mr T.N. Manoharan, at the 57th AGM of ICAI in the Capital on Sunday.
The Limited Liability Partnership Act, when enacted, will enable the integration of the professional community in the country, said the Lok Sabha Speaker, Mr Somnath Chatterjee. "The Limited Liability Bill, which is under the consideration of the Government, will help the industry at large and work towards the integration of the professional community in the country when enacted," he said.
While speaking at the 57th Annual Function of the Institute of Chartered Accountants of India on Sunday, Mr Chatterjee said that the recent spate of acquisitions by corporate India of overseas firms has posed a challenge for the accounting professionals as they need to be acquainted with the laws and accounting principles of various countries.
Information technology and economic reforms have both changed the way business is conducted, he said, and commended the institute for constantly upgrading the course and teaching methodology to include these changes.
Mr Chatterjee also gave away certificates to meritorious students at the function.