: BC Welfare Minister Kollu Ravindra has said the large-scale industrial activity set to take place in Andhra Pradesh post-bifurcation requires the professional expertise of chartered accountants for achieving the best results in financial planning and management.
Participating as chief guest in the inaugural session of a two-day sub-regional conference of Southern India Regional Council (SIRC) of Institute of Chartered Accountants of India (ICAI) here on Saturday, Mr. Ravindra said A.P could achieve double-digit growth rate in spite of the heavy odds it faced on account of bifurcation. The national growth rate stood around 7.5 per cent.
“The Andhra Pradesh government looks forward to availing [itself of] the services of ICAI wherever its knowledge is required for sound professional management of money and material,” he said, adding that the help of chartered accountants would be sought for plugging the leakage of legitimately realisable revenues to the government.
Raising the bar
ICAI national president M. Devaraja Reddy said the ICAI was evolving accounting standards tailor-made for the Indian scenario while complying with the framework of international financial reporting standards.
ICAI central council member M.P. Vijaya Kumar stressed the need for chartered accountants to be well-informed about the Companies (Auditor’s Report) Order, 2016 which have far-reaching implications of corporate governance.
SIRC Chairman E. Phalguna Kumar and ICAI Vijayawada Branch Chairman K. Siva Rama Kumar were among those present.
