KOLKATA: Expenditure agents are among Bengal's most-wanted professionals in the summer of 2011.
The unprecedented expenditure rules for the assembly election is giving
candidates sleepless nights. Parties and candidates are hiring
chartered accountants, chartered accountancy firms and book-keeping
experts to stay on the right side of the law. Even former bank employees
are being sought.
The Election Commission has approached the Institute of Chartered
Accountants of India (ICAI) to prepare a guideline for political
parties. "A core committee of ICAI is working on the guidelines of
expenditure. The EC wants to make a proper accounting framework for
this," a member of the committee said.
From getting a PAN card to
opening a separate bank account for election expenses, the accounting
professionals can help candidates (especially first-timers and those in
rural constituencies) with every nitty-gritty.
State housing
minister and CPM candidate from Dum Dum, Gautam Deb, said: "Such
professionals will be hired both at the party level as well as in
individual capacities. And they will be appointed for all the 294
constituencies."
Deb, a veteran who has headed the high-profile
Housing and Infrastructure Development Corporation (Hidco) from its
infancy, is nonetheless jittery on how best to abide by the Election
Commission's expenditure norms. "It's not enough to have election agents
this time. The process of expenditure accounting looks lengthy and
complex. It's impossible for us to do it on our own. We are especially
concerned about the candidate in a remote village who might not even
know what a PAN card was all about. Hence, professional help is the need
of the hour."
Trinamool candidate Tapas Roy said: "Being an
advocate myself, I shouldn't be over-awed by the recent poll diktats. On
second thoughts, since the norms are stringent, I, too, might get an
expenditure agent. In fact, there is my personal auditor who could help
out."
BJP state president Rahul Sinha said, "We have told the
Election Commission how difficult it will be for candidates to do their
own book-keeping. So, we have sought permission for hiring expenditure
agents. The moment the commission gives its nod, we shall start getting
the expenditure agents." Has his party found them already? Sinha
preferred not to give away the names, saying, "They will be there soon
after the EC gives the permission."
But it's true that several
mid-sized audit firms have already been approached by all major
political parties. They will be assigned to keep books, maintain
accounts and help candidates with asset disclosures. Chartered
accountant Arijit Chakraborty said as much: "Some mainstream parties
have started approaching, if not appointing CAs at the party or personal
levels. I think it's a great idea to hire professionals for the job.
CAs can help render valuable service and making this mammoth job of
electioneering transparent."
The separate bank account norm,
aimed at curbing the use of black money, is a radical new step but
chartered accountants feel there are still many grey areas, and
candidates could cheat the EC if they want to hide or manipulate facts.
Again, this is where "an accountant's expertise comes in".
A Left Front candidate said: "The norms have only increased the
workload of candidates without any guarantee that infusion of black
money will be checked. The bulk of expenditure by candidates is done
through payments in cash and kind. Where will all the vouchers come
from?" Sumit Basu, chartered accountant, thought as much: "There are
various types of expenditure. Local travelling, for instance, is one
area where vouchers won't be available. Or what about petty cash
spending, like on tea and snacks?"
He added: "The job for the CA
won't be easy as there will be grey areas where expenditure cannot be
substantiated. A registered CA must authenticate all the spending. I
think people will hire unregistered accountants instead for maintaining
the log book, or creating vouchers for hired cars etc."
It'll be a
matter of choice whether to get a CA or simply a bank official who
knows accounting like the back of his hand. One thing is clear, though.
Another valuable poll expense will be entered in the candidate's
expenditure account: the accountant's fees.
