ICAI organises conclave to enhance local self-government accounting practices

Institute of Chartered Accountants of India (ICAI) with its Committee on Public and government financial management (CPGFM) has hosted a one-and-a-half-day Local governance synergy conclave. It was organized at the Hotel Le Meridien which is situated in New Delhi. The theme is to strengthen local self-government accounting, to eventually increase accounting practices and financial management at grassroot level.

The Conclave was honoured by Girish Chandra Murmu, Hon’ble Comptroller and Auditor General (CAG) of India, in addition to him other dignitaries were Vivek Bhardwaj, IAS, Secretary of the Ministry of Panchayati Raj, and CA Ranjeet Kumar Agarwal, President of ICAI.

He highlighted the requirement for trained accounting professionals at starting level. He mentioned about the ICAI’s role in announcing a certificate course for Accountants of Panchayats and Municipal Bodies at capacity building.

CA. Ranjeet Kumar Agarwal appreciated the ICAI's effort to build India's stronger financial ecosystem, moreover its partnership with CAG to enhance accounting in over 2.6 lakh Panchayati Raj Institutions and 4,500 Urban Local Bodies.

In the event over 400 participants were present, it involved official at local body, stakeholders and featured conversations on financial reporting and the importance of digital tools in enhancing accountability.   

Certificate courses for accountants of Panchayats and Municipal bodies were launched last year, in August 9,2023. It was followed by signing of a memorandum of understanding (MoU) between ICAI and CAG. The aim of the course is to provide insights to accounting personnel local government bodies. The course is open to participants aged from 18 and above. The interested candidate must be 12th qualified; the course has a fee of Rs 590. It is available online in over 11 languages. Upon successful completion of course the candidate will receive a certificate.

The Institute of Chartered Accountants of India (ICAI) is a professional body that regulates the chartered accountancy profession in India. It is responsible for setting standards, conducting examinations, and maintaining professional ethics among chartered accountants.