President ICAI

The information generated by the Government Accounting & Financial reporting System is used to make financial and policy decisions at all levels of Government. Hence, there is a need that a robust technological based Accounting & Financial reporting System duly supported by strong governance and high-quality standards should be adopted for stable economic growth and financial prosperity. The Institute of Chartered Accountants of India (ICAI) through its Committee on Public & Government Financial Management (CPGFM) on regular basis providing support to improve the accounting, financial reporting and management system in all tiers of Government including Local Bodies through several means like capacity building endeavours, formulating Accounting Standards for Local Bodies based on international benchmark Government Accounting Standards, and providing assistance in adopting accounting reforms, etc.