The Society of Auditors, Chennai is India's oldest body of professionals in the accounting & attestation and is senior even to the accounting regulator of the country viz., ICAI nearly by a generation.
The best known names in the Indian accounting professional arena from this part of the country were not only instrumental in the formation of the Society but also in nurturing it to ensure its steady and influential presence to an extent that the body was a precursor and a trendsetter for many such organisations to germinate, grow and flourish across the country. The Society itself was a persuasive force to the Government of India to even formulate the Institute of Chartered Accountants of India under an Act of Parliament in 1949.
The Society is a sagacious, perspicacious and a serene body that has a wealth of experience behind it, thanks to the several doyens and veterans of yesteryears which the current generation is making effective use of - in conjunction with the modern and futuristic tools of learning and dissemination of knowledge. With a hoary past and a vibrant present, the Society is gloriously nearing its nineties.
Even though a nonagenarian organisation, paradoxically enough, with each passing year of the society, the average age of the members is actually going down, as more of the younger members are enthusiastically participating in carrying on the mantle.
Specific mention needs to be made of the way in which the distressing time of Covid 19 lockdown was effectively converted in to a knowledge augmentation opportunity with a series of webinars arranged by the young turks of the Society, with many members eagerly and interactively participating in them.
The Society of Auditors was formed in the pre-independence era, circa 1927 as an informal group of well-known and respected accounting professionals, then known as Registered Accountants. Th same was formally registered as a Society in 1932 (mind you, we are calculating Society’s age only from its formal birth!) and was the only body of accounting professionals (including the wannabe ones) that was a connect between the profession and the Government.
View more| Topic / Speaker | Date / Venue / Fee | Links/remarks | |||
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| Understanding Expected Credit Loss Model
Speaker: CA. Prateek Mankad |
17th September, 2024 (Tuesday) 4 pm to 6 pm Venue: Zoom Platform Fee: Free |
Meeting Link : Click Here About the Subject: Expected Credit Loss (ECL) has brought about a significant change in recognition of provision for doubtful loans, advances and trade receivables. ECL is all pervasive and is equally applicable to entities outside banking and financial services sector. This program aims to bring out the concept of ECL as well as methodologies for implementation. Moreover, ECL is a significant accounting estimate which makes it a focus area for auditors, audit committees and regulators. The programme will also cover examples of gaps in implementation which could be an area of regulatory scrutiny for companies and auditors alike. This program is best suited for heads of finance and accounts, statutory auditors and internal auditors. Speaker profile: Prateek is a Chartered Accountant with over 15 years of experience in financial reporting and risk consulting. His experience includes statutory audits of leading banks and NBFCs as well as accounting advisory in a leading accounting firm. He has worked on several Ind AS / IFRS conversion for banks, NBFCs as well as manufacturing and services companies. He is currently the Co-founder of World of Financial Reporting, a boutique consulting firm, founded in 2020, that also works on ECL modelling and advisory |
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