The Management Accountant December 2024
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December 2024 - The Management Accountant
7
“Take risks in your life, If you win, you can lead!
If you lose, you can guide!”
- Swami Vivekananda
My Dear Professional Colleague,
s we embrace the final month of 2024,
it is an opportune time to reflect on
our collective achievements and chart
our path forward. December brings
with it a sense of closure and anticipation, offering
a unique blend of retrospection and optimism. I take
immense pride in the strides our Institute has made
in promoting excellence in cost and management
accounting, enhancing professional standards, and
fostering innovation across diverse sectors. Let
us continue to work together with unwavering
commitment as we prepare to embrace new
opportunities and challenges in the year ahead.
CAASB organised a series of online interactions
on draft Cost Audit Report formats
As you are aware the Committee constituted by
the Ministry of Corporate Affairs ‘to review the
existing framework of Cost Accounting Records
& Cost Audit and to improve the usefulness of
the Cost Audit Reports’ published its report. It
is understood that the Government is expected
to initiate the process of revising the current and
proposed formats of the Cost Audit Report.
To proactively prepare recommendations from
the Institute in this regard, the Cost Auditing and
Assurance Standards Board (CAASB) of the
Institute led by CMA Ashwin G Dalwadi, Immediate
Past President and Council Member of the Institute,
organised the first series of online interactions
CMA Bibhuti Bhusan Nayak
President
The Institute of Cost Accountants of India
from 21st November 2024 to 2nd December 2024,
wherein the formats for Construction, Education,
Healthcare, Hospitality, IT Services, Telecom and
Electricity sectors were placed and discussed. I
am pleased to inform you that the series was well
attended by the members and a lot of constructive
suggestions were received by the Board.
I sincerely appreciate the endeavour of the
CAASB led by CMA Ashwin G Dalwadi. I take
this opportunity to thank all the members who
constructively contributed to this important activity
of the Institute. The way forward is to suitably
revise the formats in light of the discussions held.
Meeting with Dignitaries
CMA Ashwin G. Dalwadi, Immediate Past
President, ICMAI, CMA Manoj Kumar Anand,
Council Member, ICMAI and CMA Hrishikesh
Kumar, ED (Finance), NBCC (India) Ltd. felicitated
CMA Anjeev Kumar Jain on assuming the charge
of Director (Finance) of NBCC (India) Ltd.
CMA TCA Srinivasa Prasad, Vice President,
ICMAI had meeting with Shri KK Ajith Kumar,
MD & CEO of Dhanlaxmi Bank, Thrissur and
CMA R Abhilash, Chief Risk OfÏcer of the Bank
along with CMA Praveen Kumar, Secretary, SIRC
of ICMAI.
CMA TCA Srinivasa Prasad, Vice President,
ICMAI and CMA Praveen Kumar, Secretary, SIRC
of ICMAI had a meeting with Shri VP Nandakumar,
MD&CEO of Manappuram Finance Limited on 16th
November, 2024 at his ofÏce in Thrissur, Kerala.
CMA Manoj Kumar Anand, Council Member,
ICMAI, CMA Bijay Kumar Banerjee, DGM
President’s
Communiqué
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