Harmonisation of accounting standards in SAARC region
The Institute of Chartered Accountants of India (ICAI) will organise the SAFA (South Asian Federation of Accountants) International Conference on `Accounting profession in South Asian Region - Values and perspectives' at Chennai on September 30. Mr T.N. Manoharan, ICAI President, told presspersons here on Friday that Mr Vayalar Ravi, Union Minister for Overseas Indian Affairs, would inaugurate the conference.
The deliberations at the conference would revolve around harmonisation of accounting standards in SAARC region; capacity building of small and medium practitioners, expectations from professionals in the emerging capital market scenario and the changing paradigm of services in the new order.
More than 1,000 delegates from India, Pakistan, Sri Lanka, Bangladesh and Nepal are expected to attend the conference. The SAFA committee meeting will be held on September 29 and the General Assembly on October 1. The ICAI and the Institute of Cost and Works Accountants of India will jointly host these meetings, he said.
Mr Manoharan said that the Government approval for the new CA curriculum is expected to be obtained this month. The course will start immediately and registration of students will begin. "Option will be given to the existing PE-I (Professional Education-I) students to switch over to common proficiency test (CPT) course.
Stating that there will be a smooth transition for the existing students, he said students, who are doing PE-I course at the time of commencement of the new education scheme, can qualify in CPT and, thereafter, register for articleship. Students who are doing PE-II at the time of the commencement of the new scheme, can register for articleship in case they have already passed PE-I or by passing the CPT.
Highlighting the advantages of the new scheme, he said the duration for becoming a CA after passing `plus two' is only four years. There will be a blend of theoretical education and practical training, he added.