Calcutta, May 14: Cost accountants are eyeing a bigger role with the introduction of the insolvency and bankruptcy code.
According to the code, licensed insolvency professionals will now conduct the bankruptcy and insolvency resolution process and insolvency professional agencies will be created.
The appointed professional shall conduct the entire corporate insolvency resolution process and manage the operations of the corporate debtor.
“We expect there would be a greater role for the professional cost accountants. One of the key elements would be mapping of the financial activities of the corporate entity,” said Manas Thakur, vice- president of the Institute of Cost Accountants of India. He was speaking o…
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