Excelsior Correspondent
JAMMU, Aug 8: Confederation of Indian Industry (CII) along with the Institute of Charted Accountants of India (ICAI) organized the “Roundtable on Financial Reporting”, here today.
Divisional Commissioner Jammu, Ramesh Kumar was the chief guest on the occasion. The purpose of the Conference was to enhance the understanding and knowledge of financial reporting practices and to stay updated with the latest trends and developments in the field.
Speaking on the occasion, Archit Puri (Chairman, CII J&K) emphasized the need of adapting to Financial Reporting and getting more information about various practices and norms.
ICAI India Representative Dr Anu Goel spoke about the increasing importance of ESG and sustainability in businesses today and for future. He said even though Indian Businesses traditionally since ages were ESG oriented and sustainable in practice but in modern times it has become important to adapt ESG practices and sustainable processes in order to gain acceptability in international market.
Another ICAI India Representative Pramod Jain spoke about the importance of internal audits and defining the processes and its role in saving long term compliance issues and in effect saving money.
Ramesh Kumar while giving his address said that post GST introduction Tax processes have seen drastic changes and we are now seeing new practices and better financial reporting. He mentioned that Industry is now more forward looking and is better equipped to adapt to newer practices. He also mentioned that the Government will soon allocate a piece of land to ICAI Jammu Chapter.
Dr Alim Jan, a member CII J&K Council mentioned that Industry of J&K is now adapting to modern practices and is eager to learn more about processes which were not considered important.
The session was well attended by around 60 members of local chapter of ICAI and industry.
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