Now Reading: ICAI to overhaul TTD accounts, explore REIT route for land
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ICAI to overhaul TTD accounts, explore REIT route for land
The Institute of Chartered Accountants of India (ICAI) is working with Tirumala Tirupati Devasthanams (TTD) to revise its accounting manual and explore monetising land assets via real estate investment trusts (REITs). ICAI…
The Institute of Chartered Accountants of India (ICAI) is working with Tirumala Tirupati Devasthanams (TTD) to revise its accounting manual and explore monetising land assets via real estate investment trusts (REITs). ICAI is also helping value the temple trust's gold holdings. The project has a 100-day timeline, ICAI President Prasanna Kumar D said in August.
TTD's existing accounting manual dates back about 30 years. The new manual, aligned with global standards, will cover collections, payments, and balance sheets. ICAI also plans capacity-building programmes for TTD staff. The Ayodhya Ram Temple Trust has not approached ICAI for a similar manual, an official said.
Indian Opinion Analysis
ICAI is updating an accounting manual for TTD and exploring REITs to monetise land. Businesstoday.in frames it strictly as the institute's official account, leading with the 100-day timeline and the statement that Ayodhya Ram Temple has not approached ICAI. Times of India provides more context on TTD's land donations and the ERP system refresh, but both outlets carry the same core facts from ICAI. Ayodhya Ram Temple's non-involvement is the notable omission from one version. ICAI's final report and the 100-day deadline in February 2025 will show whether the framework becomes a model for other trusts.
Coverage: 2 sources, 2 neutral
Sources (2): businesstoday.in (neutral report), timesofindia.indiatimes.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry.
