New Delhi, May 4 (ANI): The Institute of Cost Accountants of India on Saturday said it wishes to extend full support to the government's efforts in arresting the incidence of corporates defrauding investors by inducing them with logically improbable returns on investment.
It expressed its deep concern about the millions of investors who have been duped by wrong and misleading information provided by corporates and at the same time escaping legal action in the name of complying with the laid down legal procedures.
Appreciating the efforts of the government in going beyond compliance procedures to lift the veil on the iilegal activities of the corporate sector, the ICAI announced that it would provide all intellectual support, if required by any government agency in this regard.
The ICAI suggested a simple format for collecting information on various activities carried out by a company.
This simple format provides the aggregated revenue, cost and resulting profitability business vertical-wise will be a key input for the public to get an insight into the activities carried out by a company. (ANI)
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