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Shri Vinod Rai
Comptroller and Auditor General of India |
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A New Initiative
Changing perceptions and demands of the emerging development
economy resulted in several standing Instructions called Corrections.
Still the Accounting Systems in India stops short of Accrual Accounting
and enveloped in several Accounts Codes which are general and
specific to certain departments. In order to standardise these
various Codal provisions and transit from an era of Rules to Standards
common to all departments and professionals within the Government,
the Government Accounting Standards Advisory Board was set up.
The Board seeks to promote the basic characteristics of understandability,
reliability, relevance, timeliness, consistency and comparability
of Government accounts across departments, authorities and organisations
in the Federal and Provincial Governments.
As a representative
body |
| The Board is a high powered advisory body and has representatives
from: |
1. Ministry of Finance, Government of
India, |
2. Departments of Finance of four State
Governments by rotation, |
3. The Reserve Bank of India which is
the banker to all Governments, |
4. The Chartered Accountants of India,
President or his nominee, and |
5. National Council of Applied Economic
Research, Director General |
In addition, the Board includes stewards of four major Accounting
Departments of the Government of India namely,
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1. Indian Audit and Accounts Department |
2. Indian Civil Accounts Department responsible
for maintenance of Accounts of Government of India |
3. Indian Defence Accounts Department
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4. Indian Railway Accounts Department |
The Deputy Comptroller and Auditor General
of India who is from the Indian Audit and Accounts Department
is the Chairperson of the Board.
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The
Secretariat of GASAB |
The Director General (Accounts) from the Indian Audit and
Accounts Department is the Member Secretary of GASAB.
The GASAB Secretariat also constitute with representatives of
four major Accounting Departments of Government of India, namely
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1. Indian Audit and Accounts Department |
2. Indian Civil Accounts Department responsible
for maintenance of Accounts of Government of India, |
3. Indian Defence Accounts Department ,
and |
4. Indian Railway Accounts Department.,
are |
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1. Ms. Bandhula Sagar, ICAS
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2. Shri G. Srinivas, IAAS |
Technical
Committee |
| The evolution of the Government standards
has to take into account the unraveling economy, the burgeoning
public finance and the demands of development administration.
At the same time, the Government standards will have to keep
pace with the development of standards in the private sector
and the perceptions of the professional accountants the world
over. To represent these view points, a technical committee
has been constituted with the following eminent persons :
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1. Dr. E. A. S. Sarma, Former Secretary
(Exp.) to the Govt of India. |
2. Shri A. Rangachari, Rtd. IAAS, formerly
Advisor to the IMF. |
3. Dr. M. Govinda Rao, Director, NIPFP. |
4. Shri S. R. Singh, Former Controller
General of Accounts |
5. Shri Jayant P. Gokhale, Chairman, Committee
for Accounting Standards for Local Bodies, ICAI |
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| Former Officers: |
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| Name of the Officers |
Period served |
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| H. Abbas, IAAS |
December, 2002 to
1 May 2007(F/N) |
| Sajjan Kr. Agrawala,IDAS |
January 29, 2003 to
August 31, 2005 |
| Ms. Soma Roy Burman, ICAS |
March 31, 2003(A/N) to
April 19, 2005 |
| Amitabh Banerjee, IRAS |
June, 2003 to
December 21, 2004 |
| Ms. Anju Ranjan, IRAS |
December 20, 2004(A/N) to
March 20 , 2006 |
| Abhishek Swami, IRAS |
June 20 2006(F/N) to
April 13, 2007(A/N) |
| Roopwant Soni, IDAS |
February 27, 2007 to
April 15, 2007(AN) |
| Ms. Niva Singh, IRAS |
May 28, 2007(F/N) to
June 25, 2008 (A/N) |
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