3  “Introduction of IFRS – Issues and Challenges”, Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank, at the inauguration of a national level seminar on IFRS, Prahladrai Dalmia Lions College of Commerce and Economics, Mumbai, on February 11, 2011.
BIS central bankers’ speeches  5  Role of accounting statements Modern accounting as we know today owes its origin to a Venetian monk Luca Pacioli, who till today, holds the distinction of being called the “Father of Accounting”. In the year 1494, Pacioli published his famous book “Summa de arithmetica, geometria, proportioni et proportionalita” (“The Collected Knowledge of Arithmetic, Geometry, Proportion and Proportionality”).