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20 September, 2021 20:11 IST
MCX partners with WIRC
Source: IRIS | 24 Aug, 2018, 09.40AM
Rating: NAN / 5 stars.
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Multi Commodity Exchange of India (MCX), India's No. 1 Commodity Exchange is partnering with the Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI), the largest Regional Council of ICAI.

The initiative envisages the institutions to jointly conduct knowledge sharing conferences, interactive sessions, webinars, providing study materials that take into cognizance various commodity market developments and other activities to connect with diverse stakeholder groups including practicing chartered accountants, CFOs and also the corporates and SMEs. And as an endeavor towards knowledge enhancement and capacity building the entities would conduct workshops for CA students, providing them a platform to benefit from the leaders in the industry.

Over the years there is an increased realization and acceptability that good financial reporting is necessary to create a business environment of trust, transparency and accountability. In India, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 require listed companies to fulfil certain standards and encourage good corporate governance and transparency. Even the transition to Ind AS regime has been a landmark change for the Indian industry, bringing about a paradigm shift in reporting & disclosures and improving the transparency of financial statements, benchmarking them to international standards.

MCX wholeheartedly supports WIRC-ICAI on their 33rd Regional Conference, to be held at Hotel Sahara Star on 24-25 August, 2018, covering across vast ambit of subjects relating to the profession including emerging role of chartered accountants, financial reporting and evolving financial markets.

Mrugank Paranjape, MD and CEO, MCX said, ''I am glad to have an institute of nationwide reckoning and reach, such as the WIRC of ICAI, partnering with us in creating and sharing knowledge about commodity derivatives market. Leveraging the Institute's large membership base, wide-spread presence and multifarious activities, we wish to connect to with the personnel who are at the core of the business and finance in our country. It has been our constant endeavor to reach out to a multitude of stakeholders exposed to commodity price risks, and thereby, contribute in the cultivation of a culture of commodity price risk management amongst Indian corporate businesses and to prepare them for the mandatory disclosure regime.''

Shares of the company gained Rs 5.75, or 0.69%, to trade at Rs 842.60. The total volume of shares traded was 5,730 at the BSE (9.31 a.m., Friday).

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