MCC takes a step forward to issue Municipal Bond in the market
Appoints Chartered Accounting Firm for implementation of Indian Accounting Standard*
Chandigarh, July 10:- The Municipal Corporation Chandigarh has taken a step forward in direction towards issuance of 1st Municipal Bond in the market i.e to appoint Chartered Accounting Firm, JLN US&CO, with its headquarters at Surat in the state of Gujarat on 10 July 2023.
Signing ceremony was held at MCC office premises in the presence of Chairperson, Technical Committee i.e
Sh. Gurinder Singh Sodhi, Joint Commissioner, Chief Account Officer, Section Officer, Accounts Department along with other key members of the committee. The chairman informed that the firm has been engaged for 55 months for its various roles mainly for assets valuation of Municipal Corporation and implementation of Ind-AS (Indian Accounting Standard) and IFRS (International Financial Reporting Standard) in the Corporation along with strengthening the internal control system of accounting department, introducing best practice on accounting reforms in the corporation.
The Municipal Corporation Chandigarh is among the few urban local bodies in India to implement IFRS in its accounting practice along with Ind-AS to have the national and international statutory compliances and produce financial reports to national investors and international investors. It will help to attract national and international investors for forthcoming issuance of municipal bond in the market. JLN US & CO Having 56 years operation history in the capacity of internal Auditor, Assets Valuation, Statutory Auditor, Insolvency, Taxation Consultancy, etc with presence of 17 branches in India and international operation in Dubai and Saudi.
