Issues covered in ICAI Journal

BEYOND CORPORATE GOVERNANCE:
(Accounting is not restricted to mere figures).
Innovation Accounting:Necessity of Every Lean Startup
Innovation accounting represents the entire set of metrics and indicators that are used to make data based decisions, long before having impact on the economic accounts.
Hint: As Heart beats are reflected in Cardiogram
January, 2016/ p 64

AUDITOR'S INDEPENDENCE
Threats to the Auditor's independence:
1. Self-interest Threat
(financial)

2. Familiarity Threat
(relationship with management due to long term services)

3. Advocay Threat
(management tries to pursue an opinion which is in fact contrary to public interest)
4. Trust Threat
(Blind trust in management due to their past attitude)
5. Intimidation Threat
(due to inside and/or outside pressure)

88/The Chartered Accountant/September 2014

BASEL III
As per Basel Committee on Banking Supervision (BCBS):
Basel III is a complete set of development measures that has been developed to TOUGHEN the

RISK MANAGEMENT,

SUPERVISION

&

REGULATION

of Banking Sector.
In the year 2008, when the whole world was under the dilemma of FINANCIAL CRISIS, BASEL III was specifically designed in order to deal with the weaknesses that were cropping up that time.
112/The Chartered Accountant/February,2015