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This is an archive article published on June 26, 2012

National CA students’ convention concludes

The National CA Students’ Convention hosted by the Ludhiana Branch of Institute of the Chartered Accountants of India was concluded today.

The National CA Students’ Convention hosted by the Ludhiana Branch of Institute of the Chartered Accountants of India was concluded today. Around 1,000 students attended the convention.

CA Rajeev K Sharma,convener of the convention,while briefing on the meet spoke about the style of auditing which has changed from ticks to clicks. In traditional methods,the audit was carried manually but now in the light of multi-thousand transactions occurring daily in multinational companies,manual audit is impossible.

Thus,use of high-end computer software in audit is increasing. Similarly,to analyse and compare financial data in different formats,the use of Extensible Business Reporting Language (XBRL) is increasing,whereby balance sheets of different companies of different countries are also possible.

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Similarly,electronic filing of returns is becoming the need of the day. So these important topics were taken up for paper presentation today,he informed.

It was highlighted that CAs are appointed by the Comptroller and Auditor General of India and the CAs so appointed have detected financial scams like the 2G/ 3G scam and Common Wealth Games (CWG) scam. Thus,donning the roles of CAs is so important that the highest level of knowledge is a must for CA students.

Chairman Jasminder Singh,Vice-Chairman Rachit Bhandari,Hukminder Sahi,Secretary Vikas Giya,Convener Rajeev Sharma and many others were present on the occasion.

At the closing ceremony a cultural programme was organised and certificates,trophies and convention kits were distributed to the winners and participants.

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The convention proved intellectually stimulating and highly informative for the participants,who came from different parts of India.

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