As an accountant I always argue with myself about what are we doing? Are we the necessary evil or a value creator? Why do organisation needs an accountant? I know accountants are being referred as bookkeeper and the books of the company should be in order. There are countless stakeholders and probably the number of stakeholder will increase to manage this global village. We call it Global village due to the fastest way of communication and integration of Global thought process! Is it so? As an accountant are we used to work in global village? Is the village global for us? We are dealing with IFRS? is the interpretation identical in this village? i do not think so? This interpretation is subject to culture of the country, ethical standards of business practices, experience of the interpreter, and of course the value! If it is a village interpretation should be the same.

I have been confronting with the situation where I am subject to various interpretation of IFRS and at times it is frustrating. Auditor in one jurisdiction specifies different disclosures and in another jurisdiction the different one. How do we deal with it. We have the same Board approving the financial statements of the same period but in 2 or may be more than 2.

Is the auditing risk has increased so much that, an auditor to be in the business needs to be an entrepreneur! Where he needs to calculate his risk based on the audit fee or he should follow the standards in letter or in spirit or in both. This is quite tough. One has to be in business and also to meet the compliance requirement.

There is serious amount of conflict. CFOs are expected to publish accounts, accept responsibilities, and so will the auditor. Board rely on the reports of auditors and CFOs, and the accountants in any form needs to be courageous and technically sound to give that confidence to the Board and to the investor as large. He and his team needs extensive and regular training to gain confidence and transfer that confidence above.

It is possible if the ethical standards of the Company is high. The board is ready to cooperate with the accounting need and let go certain events even if those events are commercially friendly. The accountants need to be proactive and innovative to see the things in right perspective and advise business people by offering solutions. I should not be misunderstood, in no way innovation means compromise in any form. Our experience teaches us how to find the solution. With forward looking and having the better understanding of the laws and judicial announcement we can help in value creation.

the job of an accountant is not only that of a book writer or production of MIS but is much beyond. he is an advisor to the Board, a controller, a whistle blower, negotiator, risk assessor, acquisition and most importantly be with business and provide a 360 analysis of the decision. He is competent to understand and analyse the situation very fast. He is the best judge and decision maker whether to move or not. He is the chief intuitor! the 6th eye of the organisation. He should work very hard to protect his image, and create value for himself! He is the trustee of the money and resources and is also responsible for the best allocation to have best results!

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