Year after year, as an Accountant and as a person with interest in economics, I spend time listening to the budget speech, participating in seminars and discussions. I have always wondered why we never have a measurement of ‘Budget’ to ‘Actual’, variance, cause, responsibility, accountability, Social impact? Why our budget is never presented with ‘Sources’ to ‘Application’ why are gaps/ deficits not identified? We spend time in looking ahead but never on learning’s from past year. Can we ever follow this practice in Corporate presentation? Never! So when the Finance Ministry is not transparent and accountable how does it expect others to be so? It is high time the budget exercise is turned into a social evaluation exercise, with accountability and social impact exercise. The CSR should then be linked to this wider report to understand the corporate role and contribution. #accounting#accountability#corporategovernance#transparency#ethics
