Based on the Corporate Social Responsibility initiative of the Ministry of Corporate Affairs, the Institute of Chartered Accountants of India (ICAI), has decided that through its dedicated network at the Regional and Branch level centers, it will seek volunteers from amongst its eligible members for offering audit services to at least 100 auditable entities, to start with, viz. to undertake pro bono and gratis and complete audit in terms of applicable Generally Accepted Accounting Principles. Giving this information to the Media persons here today at a formal Press Conference, Shri Subodh Kumar Agrawal, President, ICAI, said that the target beneficiaries would be selected from amongst those engaged in micro and small enterprises, located in tribal, remote and rural areas, belonging to under privileged/disadvantaged sections of the society, differently able and deserving but deprived classes. For this purpose, the ICAI will form a panel of volunteering Chartered Accountants to be sent to the Ministry. The modalities for putting this into effect will be discussed with the Ministry shortly, said Shri Agrawal. Shri K.Raghu,Vice-President, ICAI, was also present in the Press Conference held at the ICAI Bhawan.

Shri Agrawal also highlighted some of the strategic priorities of the ICAI Action Plan for 2013-14 as follows:

• Collaborating with Governmental Ministries to draw synergy and analogy in enhancing accountability and transparency including public service delivery mechanism and upholding the national and public interest.

• Increase the role of ICAI and its members in the various “Financial Inclusion” initiatives of the Government.

• Realigning the institutional mechanism to further enhance the robustness of existing regulatory system and address the perceived expectation gap.

• Harmonizing with International standards, espousing special and differential needs in respect of technical standard(s).

• Leveraging Global Opportunities for ICAI Members and Student Community. Harnessing Technology to Deliver Better Services.

KKP

(Release ID :94403)

Corporate social responsibility pro bono audits for micro and small enterprises promoted; volunteer CA panel to be formed. ICAI will implement a Corporate Social Responsibility-based program to arrange pro bono audits under applicable Generally Accepted Accounting Principles for at least one hundred auditable entities, forming a panel of volunteer Chartered Accountants via Regional and Branch networks to be proposed to the Ministry; beneficiaries will be micro and small enterprises in tribal, remote and rural areas and among underprivileged, disadvantaged and differently abled groups, with modalities to be discussed with the Ministry.