Thursday, January 29, 2015

Fix the creative Accounting in Banking first

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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