Report on Implementation of Accounting Standards in Educational Institutions of Department of Higher Education, Ministry of Human Resource Development was presented to Shri Kapil Sibal, Hon’ble Minister for Human Resource Development, Government of India on 18th January, 2012 by CA. G Ramaswamy, President, ICAI and CA. Jaydeep N Shah, Vice- President, ICAI. The report has been brought out by a working group consisting of members from ICAI and those nominated by the Ministry of HRD for the purpose, namely CA. G. Ramaswamy, President, ICAI, CA. Jaydeep N. Shah, Vice-President, ICAI, CA. Amarjit Chopra, Chairman, Professional Development Committee and representatives from the school and university sector besides experts in accounting. An accounting system that presents a true and correct picture of the state of affairs of an educational institution is a necessary requirement for transparency and accountability and enables less intrusive but more effective regulation of the education sector. The Ministry of Human Resource Development in coordination with ICAI shall organise capacity building programme to train the staff of educational institutions.
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