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The Collaboration Aims to Enhance Financial Transparency and Accountability in Panchayats and Municipal Bodies
Bengaluru, 07th May 2024: In a significant move towards bolstering financial accountability and governance at the grassroots level, the Institute of Chartered Accountants of India (ICAI) entered into a Memorandum of Understanding (MoU) with the office of Comptroller and Auditor General (O/o C&AG) on August 9, 2023. This partnership aims to collaborate on accounting and auditing issues and strengthen the accountability mechanism for good governance in local self-government.
In pursuance of the said MoU, the Certificate Courses for Accountants of Panchayats and Municipal Bodies were launched on Audit Diwas (i.e., 16th November 2023). These courses have been meticulously designed to provide specialized knowledge and skills essential for accountants working in the dynamic environment of Panchayats and Municipal Bodies. Participants will gain expertise in book-keeping, and financial reporting specifically tailored to the intricacies of local governments.
The curriculum for the courses has been modelled in such a manner that the qualified candidate not only gains essential skills required for local government accounting but also opens avenues for employment in the MSME sector at the local level in addition to panchayats and municipal bodies.
In all, 4 online courses have been launched, candidates can enrol in only one course at a time.
Certificate Course for Accountants of Panchayats (Level 1 for Gram Panchayats and Level 2 for Zilla & Block Panchayats); and
Certificate Course for Accountants of Municipal Bodies (Level 1 for Town Panchayats and Level 2 for Municipal Corporations & Municipalities).
These courses are open to 12th pass students of any stream, aged 18 and above, at nominal fees of Rs. 590/-. To ensure accessibility to a diverse audience, the courses are available in 10 languages, including Hindi, English, Marathi, Tamil, Odiya, Gujarati, Punjabi, Bengali, Kannada, and Telugu. Examinations are conducted offline, utilizing ICAI’s robust examination system, adding credibility to the certification.
Interested candidates can register for the course through a dedicated platform at https://lba.icaiarf.org.in/, with registration open throughout the year. The mode of learning is online which provides flexibility, allowing participants to attend sessions from anywhere, at any time.
These courses are being organised by the Board for Local Bodies Accountants Certification (BLoAC) established under the aegis of the ICAI Accounting Research Foundation (ICAI ARF). The Committee on Public and Government Financial Management (CPGFM) of ICAI contributes to the development of course study material.
The list of qualified candidates will be made available in the public domain so that these candidates can be engaged in the preparation of accounts by panchayats and municipal bodies, facilitating timely preparation of accounts and ensure timely audits, as mandated by the recommendations of the XVth Finance Commission.
This collaborative initiative marks a significant step towards empowering local government accountants with the necessary skills and knowledge to drive financial transparency and accountability in Panchayats and Municipal Bodies, ultimately contributing to the larger goal of good governance at the grassroots level.
