Press Information Bureau

Government of India

Ministry of Corporate Affairs

14-March-2012 16:08 IST

ICAI National Cost Convention-2012 to focus on Enhancing the long term enterprise value- Environment, Society and Governance – Towards New form of Business Reporting

Curtain Raiser

                The  three day long 53rd National Cost Convention  of Cost and Management Accountants (CMA) for the year 2012 is being organised by the Institute of Cost Accountants of  India (ICAI) here in New Delhi at Vigyan Bhawan from tomorrow onwards. It will focus on Enhancing the long term enterprise value- Environment, Society and Governance – Towards New form of Business Reporting and  be  inaugurated by the  Minister of State for Corporate Affairs, Shri R.P.N. Singh. Shri Naved Masood, Secretary in the Ministry of Corporate Affairs will deliver  Special Address during the Inaugural Session.           

                The theme chosen for the convention is SustainabilityFramework-Integrated Reporting Imperatives for CMAs. It is to bring into account the integrated Sustainability Management and involves managing opportunity and risk, measuring and managing performance, providing insight and analysis to support decision making.           

                Over 1000 delegates including eminent national and international experts are expected to attend the convention and share their knowledge and experience on these issues. The Inaugural Session will be followed by Plenary Session which will be addressed by Shri Raj Purohit, Vice Chancellor, Jai Narayan Vyas University, Jodhpur, Shri Kashi Balachandran, Prof. Stern School of Business, NY, USA, Mr. Vittorio Lusvarghi,Member, PAIB,IFAC, and Shri.S.Jayaraman, Member, CERC.

                The Technical Committee of the Convention under the chairmanship Shri Arvind K. Awasthi, Deputy Comptroller & Auditor General of India has decided on the following sub-themes:

Ø       Policy Intervention for Sustainable Development with CMA as an Enabler

Ø       Enhancing Corporate Governance Framework to Integrate Sustainability and Strategy:    Performance Management and Compliance

Ø       Deepening   Capital Markets through Responsible Investment Supporting Sustainability:

Ø       From Financial Reporting to Integrated Reporting- Paradigm Shift

Ø       Climate Change, carbon emissions and Management Accounting, Carbon Accounting

Ø       CMA as a game changer in supporting sustainable strategies: Risk Management, Whole Life Costing               

                The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its 61 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the whole world.

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Integrated reporting to embed sustainability into business reporting, positioning CMAs as enablers of risk, performance and disclosure reforms. The convention advocates a Sustainability Framework and Integrated Reporting to embed Environment, Society and Governance into business reporting, presenting integrated sustainability management as managing opportunity and risk, measuring performance, and providing decision support analysis. It identifies CMAs as key enablers and sets sub themes on policy intervention, corporate governance integration, responsible investment, the shift to integrated reporting, carbon accounting, and CMA roles in risk management and whole life costing.