Cost Accountants Told to Lead, Not Just Control

Hyderabad:Cost accountants must move beyond cost control to enterprise leadership if they are to remain relevant in a rapidly changing global economy, chief guest CMA Dr A S Durga Prasad said at the inauguration of the two‑day Regional Cost and Management Accountants’ Convention (RCMAC) 2026 in Hyderabad.

Organised by the Southern India Regional Council of The Institute of Cost Accountants of India (ICMAI) at Leonia Resorts, Shamirpet, the convention has drawn more than 500 delegates, including industry leaders, academicians, policymakers and professionals from India and abroad. The theme this year is “Reimagining the CMA Profession: Driving Sustainable Value & Strategic Impact.”

Dr Durga Prasad noted that the world is undergoing structural transformation due to geopolitical tensions and economic crises. “Risk is no longer a linear item, it is interconnected with multiple parameters,” he said, adding that boards are revisiting plans in response to trade barriers and uncertainty. He cautioned that CMAs without digital fluency or ESG literacy risk strategic marginalisation. “We have remained in the functional line for too long. We need to move to the role of leadership, from reporting to foresight, from cost control to value architecture and from compliance to governance design,” he said.

CMA A. N. Raman, former president of SAFA, observed that post‑Covid the profession has witnessed rapid digitisation, with artificial intelligence becoming central to extracting insights from data.

Technical sessions and panel discussions during the convention will explore sustainable growth, integrated performance excellence and the evolving role of CMAs in industry, finance and governance.