Trai mulling accounting system rejig

Hopes to ensure greater accountability by service providers

deevakar

Deevakar Anand | June 28, 2011



To rein in telecom service providers more effectively for anti-competitive and predatory pricing, the telecom regulatory authority of India (Trai) has proposed an overhaul of the existing reporting system on accounting separation regulation, 2004  (ASR) that governs the filing of the report by service providers.

The exercise intends to synchronise the existing accounting principles with the proposed international financial reporting standards (IFRS). The move will also mean a greater adherence to the existing Indian accounting standards, IND – AS.

The review process will work on streamlining the contents and the formats of the existingASR to help Trai achieve its regulatory objectives more efficiently. A standardised format will be put in place keeping the regulator's online data collection and management information system (MIS) in mind.

Other areas that will be reviewed are the frequency of reporting by the service providers and issues concerning auditing and accountability in the submission of ASR.

Trai is in the process of appointment of a consultant to review the  2004 ASR and has asked the service providers to feed it with their comments and suggestion within 15 days. “The objective of the exercise is to bring in an up-dated “Reporting System” which covers all the requirements of current times and which would have validity for the foreseeable future also”, reads Trai's letter to service providers.





 

Comments

 

Other News

₹10 lakh penalty on Ola for pre-ride ‘tip’ feature

The Central Consumer Protection Authority (CCPA) has imposed a penalty of ₹10 lakh on ANI Technologies Private Limited, which operates the ride-hailing platform Ola, for soliciting additional payments from consumers before completion of their journeys through its pre-ride ‘tip’/‘add-o

Retail inflation crosses 6% mark

Retail inflation based on Consumer Price Index for October has reached 6.09%, whereas year-on-year food inflation, based on Consumer Food Price Index, for October is 8.94%, an official release said on Thursday.   Year-on-year inflation rate based on All India Consumer Price I

Cabinet approves museum at North-South Block complex

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of ₹3,230 crore, as appraised by the Public Investmen

Cabinet approves extension of Noida metro corridor

The Union Cabinet, chaired by prime minister Narendra Modi, has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project with corridor for a length of 8.449 km with 5 elevated stations. On operationalization of this corridor, Noid

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter