Bank account portability is good if it is made a reality without
disrupting the services and without losing the trail of transactions.How
far the accounting system and reporting the transactions in banks to
capture the regulator's and various authorities' attention is a mystery
the way black money gets mixed up with white money and parallel
accounting is suspected to be practiced in various commercial
establishments even in a computerized environment. Creative accounting
pursued in our system of Financial accounting and reporting is something
unique which needs to be very seriously probed and fixed early before
further transition is sought to be introduced using the Information
Technology.
Dr.T.V.Gopalakrishnan
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