Page 56 - Banking Finance May 2025

OBITUARY

He was the first Doctorate (Ph.D.) in Accountancy and the present at the University of Calcutta on the occasion of the
first D. Litt. (Commerce) in Auditing in the annals of the teachers' day programme. The then Chief Minister of West
University of Calcutta. He has contributed towards the pro- Bengal, Shri Buddhadeb Bhattacharya, personally invited
motion of commerce education through his vast academic him to his office in the Writer's Building and discussed his
and research works in the field of management, account- academic and research interests as well as his contribution
ing, finance and auditing. He took part in the deliberation to the field of accounting, finance and management. Prof.
of the 4th International Conference on Accounting Educa- Basu presented books authored by himself to the
tion in Berlin, West Germany in October 1977. honourable chief minister.

Prof. Basu was a visionary person, and he was pioneering I came into contact with him when I was a student in the
in deciding the areas and issues for commerce education M. Com. second year in 1998-99. Later I got the opportu-
with his foresightedness. Prof. Paul Garner, University of nity to complete my Ph.D. research work under his super-
Alabama, USA, who has written the foreword for a book vision and guidance. During my research work I learnt a lot
on auditing authored by Prof. Basu, mentioned that "It is a of life lessons and practical knowledge from him, which are
fortunate circumstance that this new text makes its ap- lifelong assets for me. He introduced me to many people in
pearance almost simultaneously with the issuance in Janu- academia and industry as his favourite student. I came into
ary 1980 of a first international auditing guideline published contact with Dr. Rakesh Agarwal, Editor of Banking Finance,
on behalf of the International Auditing Practices Commit- who became my close friend after a few meetings. The book
tee by the International Federation of Accountants, which reviews on different titles authored by Prof. Basu have been
was inaugurated in Munich in October 1977 at the World published in Banking Finance during such periods.
Congress of Accountants.
One thing I observed very closely was that he was a person
The specific title of the first guideline 'Objective and Scope of principles. Once he has decided his own perspective re-
of the Audit of Financial Statements' will become much garding anything or any incident that remained forever
more meaningful when readers of this text by Dr. Basu is without any further changes or dilution in the same. He
studied and applied to daily practice. While Dr. Basu had never compromised with any person or situation through-
already completed most of his manuscript before guideline out his life. Once he decided on any principle for himself,
number one was printed, it is fortuitous that the chapters he followed the same throughout his life at any cost, and
of his book explain and give details of carrying out the spirit ultimately he became a person of principles.
and philosophy of the guideline Dr. Basu has an admirable
background of educational attainments and practical expe- When it comes to talk of his personal stature, he was just
rience, along with academic prestige, to write a suitable like a father figure. He was a very caring, softhearted per-
textbook on auditing." son with solutions for all problems, whether they were aca-
demic or personal in nature; he was so prompt to make you
During his illustrious tenure, he inspired and guided count- happy by providing a unique solution to your very complex
less students, many of whom went on to achieve great problems in his own style. He always intended to lift the
success in their lives. He has successfully guided about 29 persons in need and without any means or resources.
Ph.D. scholars under his able supervision and guidance. Prof.
Basu's contributions to academia were recognized and cel- Outstanding publications of Prof. Basu include An Insight into
ebrated by the entire academic world. He was famous for Auditing - A Multidimensional Approach, Lectures on
his own style of teaching and research within academia, Management Accountancy, Public Administration, and Ac-
industry and the corporate world. Notably, the University counting for Goodwill. His fundamental contribution to the ex-
of Calcutta awarded him the prestigious "Eminent Teacher isting literature of accounting, finance and management can
Award on March 22, 2012, for his exceptional teaching skill never be forgotten. Matchless examples used by Prof. Basu
and commitment to education. during his lecture sessions and even the normal course of dis-
cussion will never fade. He passed away on 21st April 2025 in
Prof. Basu has been specially felicitated by the former Gov- Pune, leaving behind his only daughter, Chayanika. His death
ernor of West Bengal, Shri M. K. Narayanan, who was is a great loss to the accounting and auditing world.

50 | 2025 | MAY | BANKING FINANCE