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Don Bosco Provincial House, Hyderabad, 17 August 2019: The meeting began at 9:30 am with an invocation to the Holy Spirit. Fr Androth, the Economer introduced the auditors Mr Subramanyam and Mr Chinnabattulu, from Hyderabad. They were the resource persons for the administrator’s meet. They are part of the team of V. Ramesh & Co., a charted account firm. The firm was established in the year 1995 with an objective of providing quality services to enhance value for the client in the domain of Audit, Taxation and Management Consultancy. Over the years, the firm strived in its objectives and worked in a professional setup to optimize the benefits and enhance the value for the clients. The clientele of the organization covers the whole spectrum of individuals, firms, corporate and non-corporate customers.
Mr Subramanyam and Mr Chinnabattulu shared and expounded principles, standards, and procedures that companies and accountants must follow the compilation of the financial statements. Further, they reread the combination of authoritative standards (set by policy boards) and the commonly accepted ways of recording and reporting accounting information. Mr Chinnabattulu sorted out clarity of the communication of financial information. He too elucidated with examples topics viz., Society Registration Act, FCRA act, 12A Certificate, Income Tax Act, Provident Fund, Employees’ State of Insurance, Tax Deduction at Source etc., and their repercussions if not followed carefully to the extent of the cancellation of Society Registration, FCRA Certification and 12A Certificate. He clarified a few queries from the administrators at random from the floor.
Fr Androth, the Economer, thanked the auditors Mr Subramanyam and Mr Chinnabattulu from V. Ramesh & Co. for their wisdom and depth in Accounting Principles and for accepting to animate the administrators of the Province of Hyderabad.
In the post Lunch session, Fr Androth presented the Audit Remarks from the Auditors, Thomas & Co., Chennai. Fr Androth exhorted the administrators to send the monthly returns promptly, upload them regularly and even contribute Rs. 5000/- towards Annual Medical Corpus Fund on time. He shared the importance of an administrator who is the custodian for the finances of the Society and various administrative activities that are crucial to an organisation and also emphasised on the daily book keeping.
There were 43 participants who attended the meeting from various houses. The lay accountants were also part of the meeting. The meeting was concluded with tea at 4:30 pm.
