News & Events
| IFAC Consultation Paper Highlights Changing Roles and Employer Expectations of Professional Accountants in Business The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) today released for comment a Consultation Paper that highlights how employer expectations of professional accountants in business are expected to change in light of global trends and evolving organizational needs. The paper analyzes these expectations in relation to eight drivers of sustainable organizational success'what companies need to do to achieve and sustain success in the changing global economic landscape. The drivers were defined based on an analysis of three long-term trends influencing organizations: globalization, complexity, and technology. 03 Sep 2010 00:00:00 GMT After bidding Tata good bye, Ratan wants to just break free Ratan Tata, who has spent the better part of his life in the last two decades unifying a disparate Tata group and giving it a vision and long-term focus, said he is looking forward to the freedom that retirement brings. ?The company is not pushing me out, I am choosing to go, it's my desire,? said Mr Tata on his keenness to step down. ?I hope to find the time to do the things that I have always wanted to do,? he added. 03 Sep 2010 00:00:00 GMT Cos with captive mines to share profits with affected people The government is determined to implement a policy intended to give those displaced by mining a share in the profits of the miners despite a less than enthusiastic response from industry, the minister for mines said on Thursday. The policy, part of a legislation setting the rules for investment in mining, will also apply to captive mines of companies such as Tata Steel, SAIL and Hindalco. 03 Sep 2010 00:00:00 GMT Sanjiv Goenka plans power drive for CESC Sanjiv Goenka, the younger scion of the Kolkata-based RPG family that owns power company CESC and tyre-maker Ceat, is readying big expansion plans for his bit of the group after an amicable parting with elder brother Harsh. The separation was smooth partly because both the brothers get to own companies they are already running. For Sanjiv, that means heading CESC, a British era company that has distributed power in Kolkata for just over a century, and Noida Power, which supplies electricity to parts of the booming Delhi suburb. 03 Sep 2010 00:00:00 GMT NRIs face tax threat under DTC The new direct taxes code could bring a large number of global Indians under the tax net as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance. The new legislation, introduced in Parliament on Monday, says an individual shall be resident in India in any financial year if he is in the country for more than 59 days in that year and has been in India for more 365 days in the four preceding financial years. 03 Sep 2010 00:00:00 GMT Sharma backs FDI in multi-brand retail, says opening up to create more jobs Coming out in support of allowing foreign direct investment (FDI) in multi-brand retail sector, commerce and industry minister Anand Sharma has said that despite ?sceptics and scaremongers?? predicting job losses, unorganised retail will actually grow and thousands of jobs will be created if the sector is opened up to foreign investments. He said that his department had received all inputs on the position paper floated on the issue and a inter-ministerial core group will hold discussions on it soon. 03 Sep 2010 00:00:00 GMT Pawar pushes for sugar decontrol, presents case before prime minister Food, PDS and civil supplies minister Sharad Pawar made a big pitch to Prime Minister Manmohan Singh here on Thursday on sugar sector decontrol. He placed a plan for the Centre to buy sugar at prevailing market price for the public distribution system (PDS) directly from the open market in the new sugar year starting October. If this goes through in the coming season, sectoral decontrol would be attained after 15 years of waiting for the right environment. 03 Sep 2010 00:00:00 GMT Ailing PSUs may get lifeline through banks The government may throw a lifeline to ailing state-run firms by asking public sector banks to offer easy financing options for those firms that can be revived through joint ventures with private sector players. The board for reconstruction of public sector enterprises (BRPSE), an agency for the revival of sick PSUs, has mooted the proposal to make sick public sector attractive to private sector suitors. 03 Sep 2010 00:00:00 GMT |