Chartered Accountants from India and across 48 countries celebrated 74th Chartered Accountants’ Day celebrations

The 74th Chartered Accountants’ Day was celebrated today i.e. July 1st by ICAI all across, through its 5 Regional Councils & 166 branches in India and 44 Overseas Chapters & 33 Representative Offices spread in 77 cities of 48 countries.

On this day, on July 1st 1949, the Institute of Chartered Accountants of India (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.

The celebrations started from ICAI Head office in New Delhi. Shri Kailash Choudhary, Hon’ble Minister of State for Agriculture and Farmers Welfare was present in the morning. The Hon’ble Minister addressed the CA fraternity through a live webcast.

During his address, the Hon’ble Minister congratulated ICAI for taking forward the tree plantation initiative across the country. He further added “ If 10 lakh CAs members and students, plant one tree on this foundation day, 10 lakh trees will be planted, which is a large no. and will certainly contribute towards achieving clean & green environment.”

Highlighting that Hon’ble Prime Minister has banned single-use plastic from today, i.e. 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, CA fraternity to take this initiative of government further and stop the use of Single Use Plastic in their personal lives and this way they would set an example for their clients and others to take our country towards sustainable future.

An event to mark 74th 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 . 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, Hon’ble C & AG remarked “ The ICAI and the profession since its inception has always in forefront of bringing the best global practices in the country be it setting of Standards, Education and Training, capacity building of stakeholders. ”

Hon’ble C & AG further added “ICAI is doing a very good job and should make more efforts to reach out with all Regulators and have constant interactions and provide real time information that can further strengthen the present framework and improve strategy.”

Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs said “ICAI has been playing very important role in setting high standards of quality assurance. I am happy to note that the Institute is coming out with New Scheme of Education which is 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, Ministry of Corporate Affairs 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 MSME sector. Over 3.20 lakh Chartered Accountants have dep reach and connect to the MSME sector providing a variety of services. ”

CA. (Dr.) Debashis Mitra, President, ICAI addressed the CA fraternity and wished everyone a happy Chartered Accountants Day. While delivering the address he said “ The ICAI, since its inception in 1949 has grown manifold and it has presence across 166 branches and 77 cities in 48 countries across the globe. The ICAI had launched Financial & Tax Literacy Drive for well-being of the nation and is organising various programmes to educate general masses about nuances of finance & tax.”

President, ICAI further added “ ICAI has launched nationwide Sustainability Literacy Drive to make the process of sustainable development more feasible and operational. The Institute is also working on Social Audit Standards.” He further added that “Institute’s Examination system is very robust and also the Supreme Court of India has also appreciated ICAI Exam system.”

While delivering 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.” Vice-President, ICAI further added that “The New Scheme of Education of CA curriculum has been formulated taking into account the best practices of international accountancy bodies, the significant aspects of National Education Policy, 2020 (NEP, 2020) and the requirements under International Education Standards (IESs) of IFAC.”

During the Technical Sessions which were a part of CA Day programme, Shri N. Venkataraman, Additional Solicitor General of India (Supreme Court) expounded on the “Way forward for the GST in India”. CA. Dr. Girish Ahuja, Renowned Tax Expert spoke on “ Taxation of Charitable Trusts”.

ICAI is hosting the World Congress of Accountants (WCOA) this year in Mumbai from November 18 to 21,2022 on the theme, ‘Building Trust, Enabling Sustainability’. The World Congress of Accountants was first held in 1904 in USA. It is held every four years, and is taking place in India for the first time.