The Institute of Chartered Accountants of India (ICAI), established by an Act of Parliament in 1949 has proven its mark as an elite world class institution devoted to uphold the values of transparency, accountability and integrity.
The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India.
The Committee on Public & Government Financial Management (CP&GFM) strives to assist Government Sector in successful implementation of the accounting reforms and public financial management.
For this purpose, the Committee from time to time submits various representations to Government for…,
Accounting Standards for Local Bodies (ASLBs)
ICAI through the Committee on Public and Government Financial Management (CP&GFM) is formulating Accounting Standards for Local Bodies (ASLBs).
ASLBs set out recognition, measurement, presentation and disclosure requirements dealing with specific transactions and events in general purpose financial statements of LBs.
The Certificate Course on Public Finance and Government Accounting intends to equip the participants with understanding of the economic policies of the Government, Budgets, Fiscal tools, Government Grants, Public Funds, Rules, Regulations and Accounting Systems pertaining to Government departments/ Institutions of Centre, State and local bodies through case studies, lectures and peer discussions.
The Committee from time to time issues publications on various technical subjects for the benefits of various stakeholders. Till date, the Committee has issued several publications i.e., Compendium of ASLBs (Vol. I & II), ASLBs – At a Glance, Guidance Note on ‘Accounting for Investments’ for Local Bodies, Role of Professional Accountants in PFM, Status Paper on Accounting Reforms in LBs in India..