ICAI-CAPA jointly hosted "Roundtable Stakeholder's meeting on Public Sector Financial Management"

The Institute of Chartered Accountants of India (ICAI) in collaboration with the Confederation of Asian and Pacific Accountants (CAPA) organised a joint “Roundtable Stakeholder’s meeting on Public Sector Financial Management” in New Delhi. The Roundtable gave the attendees an overview of the Public Sector in India and the role that the accountancy profession plays in improving its financial management.

CA Prafulla P Chhajed, President of ICAI, said, “This event has brought together professionals from all areas including the World Bank, ADB, CAG, CGA, GASAB, CAPA, Ministry of Finance, Ministry of Railways, Ministry of Communications and many others. I am certain, this sharing of views and discussions of the learned participants will aid in empowering financial management in the public sector. ICAI supports every endeavour of the Govt. that is directed towards improving Public finance and financial reporting in our country.”

Shri Shashi Kant Sharma, Former Comptroller and Auditor General of India, stated, “Accountancy professionals have a great responsibility on their shoulders to make sure that public money is utilised in the right manner. Earlier, India was not even among the 10 major economies but by the turn of the millennium, it came amongst the top 10 economies. Today, it is 6th largest economy and most projections show that it will be the 3rd largest economy in the next decade. While welcoming this we must also be aware of challenges in financial management and this will need transparency and audit from the Accountancy professionals.”

CA Atul Kumar Gupta, Vice-President of ICAI, added, “Accountancy Professionals are fully geared to take up the challenges ahead as they have in the past. ICAI through its Research wing, Accounting Research Foundation is playing a pivotal role as a Partner in Nation Building to improve Public Sector Finance in India.”