The Indian Cost Accounts Service (ICoAS) marked its Foundation Day in New Delhi today with the theme ‘ICoAS @ Viksit Bharat,’ highlighting the crucial role that ICoAS officers play in advancing the vision of a developed India by 2047. The event was graced by Dr. T. V. Somanathan, Finance Secretary & Secretary (Expenditure), who served as the Chief Guest.
In his keynote address, Dr. Somanathan praised the dedication, expertise, and commitment of ICoAS officers, emphasizing their increasing importance in the journey towards ‘Viksit Bharat 2047.’ He also launched an e-Book titled ‘Indian Cost Accounts Service: An Overview,’ which outlines the key functions and accomplishments of ICoAS officers.
A documentary showcasing the journey and contributions of ICoAS was screened during the event, along with a detailed presentation on the significance of cost auditing in government sectors. The presentation underscored the need to expand cost audit practices to entities receiving government subsidies or grants.
The celebration featured two technical sessions focusing on various aspects of cost accounting. Dr. Vivek Joshi, Secretary, Department of Financial Services, served as the Chief Guest of the first session, where a presentation on the performance analysis of public and private sector banks was delivered. Dr. Joshi also launched the inaugural edition of “ICoAS: Insights Magazine.” He highlighted the potential of cost control and cost reduction techniques implemented by ICoAS officers to lower the cost of delivering financial services.
The Guest of Honor for the first session, Dr. S.K. Sarin, Director of the Institute of Liver and Biliary Sciences (ILBS), spoke on the importance of liver health for a longer life. In the second technical session, Shri Rameesh Kailasam, CEO of IndiaTech.org, explored the topic of ‘Digital Currency.’ Additionally, Dr. Mayank Sharma, IDAS, Additional CGDA, delivered a speech on ‘Strengthening Professional Skills of Cost Accountants.’
The final session featured a talk by Shri B.B. Goyal, Former Head of Service, followed by presentations from young ICoAS officers. The event opened with a welcome address by Shri Pawan Kumar, Chief Adviser (Cost), and was attended by senior officers from various ministries and departments.
ICoAS Day 2024 celebrated the dedication and excellence of ICoAS officers in their mission to contribute to a developed and prosperous India. The event provided a platform for capacity building, knowledge sharing, and recognizing the significant contributions of ICoAS officers in achieving the vision of Viksit Bharat 2047.
