• Business Corporate / Business

Chartered Accountants in India, and across 48 countries, celebrated 74th Chartered Accountants’ Day   

• nationalherald
• July 4, 2022

by Prashant Kapadia/NHN

The 74^th Chartered Accountants’ Day was celebrated on July 1^st by the Institute of Chartered Accountants of India, ICAI, through its 5 Regional Councils and 166 branches in India, and 44 Overseas Chapters and 33 Representative Offices in 77 cities across 48 countries. On this day, on July 1^st 1949, ICAI was set up by an Act of Parliament, to regulate and promote the profession of Chartered Accountancy in India, and to contribute towards nation building.

Shri Kailash Choudhary, Hon’ble Minister of State for Agriculture and Farmers Welfare addressed the fraternity of Chartered Accountants through a webcast. During his address, the Hon’ble Minister congratulated ICAI for their tree plantation initiative across the country. He said, “If 10 lakh ICAI members and students plant one tree on this foundation day, 10 lakh trees will be planted, which is a large number, and which will certainly contribute towards achieving a clean and green environment.”

Highlighting that Hon’ble Prime Minister has banned single-use plastic from July 1, 2022, Hon’ble Minister said “Chartered Accountants have always supported various Government initiatives and have worked towards their implementation, like in case of GST roll out and other schemes.” He urged the CA fraternity to take this initiative further and contribute to taking our country towards a sustainable future.

An event to mark 74^th CA Day was also organised by ICAI in New Delhi which was inaugurated by the Chief Guest Shri Girish Chandra Murmu, Hon’ble Comptroller and Auditor General of India and Guest of Honour Shri Rajesh Verma, IAS, Secretary, Ministry of Corporate Affairs, Government of India. Also present were CA. (Dr.) Debashis Mitra, President, ICAI and CA. Aniket Sunil Talati, Vice-President, ICAI along with Central & Regional Council Members of ICAI.

While addressing the gathering Shri Girish Chandra Murmu remarked, “The ICAI and the profession since its inception has always been in the forefront of bringing the best global practices in the country, be it setting of Accounting standards, education and training or capacity building of stakeholders.”

Hon’ble CAG further said, “ICAI is doing a very good job and should make more efforts to work with all Regulators and have constant interactions, and provide real time information that can further strengthen the present framework.”

Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs said, “ICAI has been playing a very important role in setting high standards of quality assurance. I am happy to note that the Institute is coming out with a new scheme of education which is futuristic and globally relevant.” He further added, “I am confident that the new scheme will enhance the professional competence of aspiring Chartered Accountants and make them global ready.”

Secretary, MCA added, “The MSME sector is the backbone of India’s financial system and I am happy to share that Chartered Accountants are trusted advisors of MSMEs. Over 3.2 lakh Chartered Accountants have deep reach and connect with the MSME sector, and are providing a variety of services.” 

1. (Dr.) Debashis Mitra, President, ICAIsaid, “The ICAI, since its inception in 1949 has grown manifold, it is now present through 166 branches in 77 cities across 48 countries.ICAI has launched the Financial & Tax Literacy drive for the well-being of the nation, and is organising various programmes to educate people about nuances of finance & tax. ICAI is also working on Social Audit Standards.”                 

While delivering a vote of thanks, CA. Aniket Talati, Vice-President, ICAI said, “ICAI has always been there to support various initiatives of the Government. ICAI supported the Indian Railways towards implementation of accrual based accounting in place of cash based accounting. The new scheme of education for Chartered Accountancy has been formulated taking into account the best practices of international accountancy bodies, the significant aspects of National Education Policy, 2020 and the requirements under International Education Standards of IFAC (International Federation of Accountants).”

To watch the full proceedings of the 74^th CA Day, please visit https://www.youtube.com/watch?v=VVoaiA_QuRw