INSUBCONTINENT EXCLUSIVE:
Kolkata: As part of its outreach initiatives to sensitize businesses, especially SMEs, about the impact of commodity price risks and the
need for appropriate risk management, Multi Commodity Exchange of India Limited (MCX) has decided to partner with the Western India Regional
Council (WIRC) of the Institute of Chartered Accountants of India (ICAI), the largest Regional Council of ICAI
The initiative envisages the institutions to jointly conduct knowledge sharing conferences, interactive sessions, webinars, providing study
materials that take into cognizance various commodity market developments and other activities to connect with diverse stakeholder groups
including practicing chartered accountants, CFOs and also the corporates and SMEs
And as an endeavor towards knowledge enhancement and capacity building the entities would conduct workshops for CA students, providing them
a platform to benefit from the leaders in the industry.
Over the years there is an increased realization and acceptability that good
financial reporting is necessary to create a business environment of trust, transparency and accountability
In India, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 require listed companies to fulfil certain standards and
encourage good corporate governance and transparency
Even the transition to Ind AS regime has been a landmark change for the Indian industry, bringing about a paradigm shift in reporting
disclosures and improving the transparency of financial statements, benchmarking them to international standards.
Mrugank Paranjape, MD and
CEO, MCX said, “I am glad to have an institute of nationwide reckoning and reach, such as the WIRC of ICAI, partnering with us in creating
and sharing knowledge about commodity derivatives market
Leveraging the Institute’s large membership base, wide-spread presence and multifarious activities, we wish to connect to with the
personnel who are at the core of the business and finance in our country
It has been our constant endeavor to reach out to a multitude of stakeholders exposed to commodity price risks, and thereby, contribute in
the cultivation of a culture of commodity price risk management amongst Indian corporate businesses and to prepare them for the mandatory
disclosure regime”.
CA Sandeep K C Jain, Chairman, WIRC of ICAI said, “The Regional Conference is the most important event of WIRC and
this year it is being held with the theme ‘Enhance Achieve’
While being attended by more than thousand members, the idea behind the conference is to give all the members a platform for networking and
sharing of ideas which helps mutual growth and development of members across the globe
I feel proud that in the present era our profession is modernizing and progressing at a steady pace
With this background, WIRC’s understanding with MCX augurs well as this collaborative endeavor to deepen and widen the market through
knowledge building initiatives would be a big move in the growth and development of businesses of all scale that contribute significantly to
the country’s GDP and employment.”
