Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: due date for vat payment :: TDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: form 3cd
 
 
« News Headlines »
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice

Corp governance a must: PM
July, 02nd 2008

Urging Indian chartered accountant firms to expand their operations beyond India and seek global opportunities and challenges, the Prime Minister, Dr Manmohan Singh, today called upon them to ensure the countrys corporates conform to high governance standards.

Unless Indian chartered accountant firms come to be recognised worldwide for good corporate governance, they will not be able to compete globally in an increasingly integrated world, Dr Singh said, inaugurating the diamond jubilee celebrations of the Institute of Chartered Accountants of India (ICAI).

Recognising the critical role of the accounting profession in lending credibility to financial markets, the Prime Minister regretted that adequate attention was not given to governance in public discourse.

Describing the chartered accountants as the watchdogs of new corporate world, he said: The dynamism of globalised capital market and emergence of knowledge based economy has posed major challenges to accurate and speedy financial reporting. In the era of protectionism, he pointed out, few bothered about corporate governance and transparency in accounting and management.

Such laxity is no longer possible. Shareholder democracy has come to stay and you are the watchdogs of this new corporate world, he added.

Stating that market participants, investors and shareholders look to the chartered accountants for high quality information, which ensures market discipline and foster confidence of various stakeholders, the Prime Minister also highlighted the need for proper accounting system for funds received and spent by panchayat institutions. This, he underlined, was critical to making decentralisation a success.

With the presence of chartered accountants even in the remotest parts of the country, you can also facilitate financial inclusion and access to finance for the rural poor, through micro-finance and other innovative measures, he added.

Turning to the services sector, Dr Singh noted that India had made a mark in this area and must acquire the very top spot in terms of excellence, professionalism, speed, quality and predictability of service and, above all, reliability and integrity. I would like to see the day when the world looks up to Indian professionals in every field of modern professional work, he added.

In this context he welcomed the law on limited liability partnership being brought in by the corporate affairs ministry by amending the Chartered Accountants Act, 1949.

This, he noted, would help in the consolidation of small firms and promote multi-disciplinary practices in line with the global trends.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions