The Hindu : Enhance professional credibility, CAs told

Online edition of India's National Newspaper
Sunday, Jun 15, 2003

Southern States

Southern States - Karnataka

Enhance professional credibility, CAs told

By Our Special Correspondent

Bangalore June 14. The Governor, T.N. Chaturvedi, today called upon Chartered Accountants to work towards building confidence in society by enhancing the credibility of the profession.

Inaugurating a regional seminar on "Insurance: the happening industry", organised by the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI), Mr. Chaturvedi said financial reporting had cast a shadow on the profession and it was this the CAs had to get rid of through pre-induction training and continuing education.

The booming insurance sector, he said, had thrown up lot of challenges for which the CAs had to prepare themselves for.

The Chairman of the SIRC, K. Raghu, said the opening up of the insurance sector meant enhanced opportunities for the profession, and the institute was keeping abreast of this by introducing a post-qualification course on insurance and risk management.

The insurance market, he said, would grow from $8 billion to $25 billion by 2010 and, in the next two years, the employment potential would increase by 25,000.

The Chairman of the Continuing Professional Education Committee of the ICAI, Vinay Mruthyunjaya, said CAs were well-trained in fiscal and corporate law, but were underutilised by the Centre and the States while preparing the annual budgets. The Chairman of the Bangalore branch of the SIRC, Ravindra Raj Bhandari, welcomed the gathering and V.C. James, Secretary, proposed a vote of thanks.

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