The Minister of Corporate Affairs Shri Prem Chand Gupta will inaugurate the “Global Summit on Management Accounting” on 10th January 2008. This three-day Mega event of Management Accounting bodies across the globe is being organized by the Institute of Cost and Works Accountants of India (ICWAI) at Vigyan Bhawan New Delhi from 10th-12th January 2008. The summit is first of its kind and is expected to create a historical turn in the evolution of the management accounting profession globally.

The Minister of External Affairs Shri Pranab Mukherjee will deliver the Valedictory Address on 12th January 2008.

Deliberations during the Summit would focus on Management Accounting in its new manifestation including the territories of accounting, strategy and management of enterprises. As the management accounting bodies of the Western world has already been witnessing and turning them to such a paradigm, some beginning has to be made to complete the process across the globe among similar bodies. It is with this objective that the Summit is being organised by the ICWAI.

The ICWAI will play the key role as the main host for this Global Summit. Co-hosts include Institute of Cost and Management Accountants of Bangladesh (ICMAB), Institute of Cost and Management Accountants of Pakistan (ICMAP) and the Society of Certified Management Accountants of Sri Lanka (SCMASL). Besides these SAARC bodies, the Summit will have technical partnership with other counterparts from the Western world such as Certified Management Accountants (CMA), Canada, Certified Institute of Management Accountants (CIMA), UK and the Institute of Management Accountants (IMA), USA. Around 1200 delegates are expected to participate in the programme out of which about 200 would be foreign delegates.

A special feature of the Summit is a round-table conference of the heads of all these Accounting bodies on the sidelines of the Summit to evolve a global strategy for repositioning the management accounting profession.

The Institute of Cost and Works Accountants of India (ICWAI) was set up by an Act of Parliament i.e., the Cost and Works Accountants Act, 1959. ICWAI is now bracing itself to a new leadership role in the global scenario.

The event holds a special significance to the Indian economy as it is surging forward at a high growth rate with many business enterprises and institutions spreading their wings and taking on a global role encouraged by the environment and the motivation provided by the present Government.

Click here to read more on Press Information Bureau Website

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