The Government is to introduce an accounting system to make educational institutions financially more accountable. Talking to reporters in New Delhi today, Minister for Human Resource Development Kapil Sibal said that his Ministry today approved a report prepared by the Institute of Chartered Accountants of India for bringing in standardisation in the accounting system. He said the new accounting standards would apply to all central educational institutions including the schools affiliated to the CBSE. The Minister, however, said he will put the proposal up for public discussion so that private institutions could give their views and the new system will be implemented from next year. Sibal wanted states too to adopt the new system. He said, the proposal will be put up to the Central Advisory Board for Education (CABE) Committee.