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Cost accountants should help fight gold plating in biz landscape: Prez

Press Trust of India  |  New Delhi 

today said cost accountants should ensure that wasteful costs in production are removed as well as fight abberations of gold

They should also help in improving processes and systems to reduce avoidable costs and "make each rupee that is invested go that much further," he said.

The was speaking at a function to mark the silver jubilee celebrations of the of India (ICAI).

"It is for cost accountants to help fight the aberrations of gold that may sometimes appear on our business landscape," Kovind said.

Generally, gold refers to inflating project costs due to avoidable expenses which are then sought to be passed on to the end-users.

said cost accountants should guide businesses towards light and truth so that they fulfil the expectations of stakeholders while "abstaining from unethical practices".

"To remain a vibrant economy, it is important that cost in our economy remains competitive," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, July 14 2018. 12:50 IST