ICAI organizes National Education Summit on Commerce & Accountancy (NES-CA) Proposes to Standardize Commerce & Accounting Education in India

The Institute of Chartered Accountants of India (ICAI) through its Board of Studies (Academic) is organising a National Education Summit on Commerce & Accountancy (NES-CA) on 6th & 7th January 2023 at New Delhi.

The 2-day summit was inaugurated today by Dr. Subhas Sarkar, Hon’ble Minister of State for Education and Dr. Bhagwat Kishanrao Karad, Minister of State for Finance delivered a keynote address. Also present were CA. (Dr.) Debashis Mitra, President, ICAI; CA. T N Manoharan, Past President, ICAI; CA. Dayaniwas Sharma, Chairman, Board of Studies, ICAI; CA. Vishal Doshi, Vice-Chairman, Board of Studies, ICAI and other delegates.

NES-CA aims to standardize Commerce & Accounting education at Higher Secondary and Undergraduate levels of schools/colleges/universities across India. ICAI has partnered with the Association of Indian Universities (AIU), the National Council of Educational Research and Training (NCERT), and the National Council for Teacher Education (NCTE) for this NES-CA Summit.

While addressing the audience during the inaugural ceremony, the Chief Guest Dr. Subhas Sarkar, Hon’ble Minister of State for Education appreciated the “ICAI’s efforts towards making India financially literate in line with the Government of India’s mission on Financial Literacy or Vittiya Saksharta which is also one of the most important sustainable development goals promoted by the G-20 nations.”

The Hon’ble Minister further lauded ICAI for its initiative in designing the Model Curriculum in the booklet titled “ICAI Exemplar: Preparing Future Ready Commerce Graduates” incorporating the competence-based approach through well-designed syllabi with objective statements, learning outcomes and course curriculum, for commerce education at senior secondary level and graduation courses. He urged the academic institutions/universities to adopt the ICAI Exemplar for making commerce education as One India, One Accounting and One World. He extended his greetings to the entire ICAI family. He said that this Institution will continue to carry forward its work and will play a vital role in the growth and development of our nation, our BHARAT.

Delivering the keynote address, Dr. Bhagwat Kishanrao Karad, Minister of State for Finance said “At the outset, I am very glad that ICAI has taken the initiative to host this National Education Summit on Commerce and Accountancy (NES-CA), bringing together Vice Chancellors of Universities, and Commissioner and Secretaries of State Board of Education across India to give a fillip to commerce education in India.”

The Hon’ble Minister further stated that “Prime Minister’s vision of creating a “Vishwa Manav” or Global Citizen has been incorporated in the NEP 2020. He emphasized the significance of skill-based education in which more emphasis is given on conceptual understanding vis-a vis rote learning.” He stated that ICAI has developed Model Curriculum 2023 for commerce education at senior secondary level and undergraduate commerce courses titled “ICAI Exemplar: Preparing Future Ready Commerce Graduates”. I feel that that the uniform Model Curriculum 2023 so designed will significantly enhance the standard of commerce education.

This Summit is being attended by Vice Chancellors, Directors, Deans, Principals, HODs, Chairmen, & Professors from top Commerce universities & colleges and Secretaries of State Education Boards from over 25 States. Leading Academicians and experts from the field of Commerce and Accounting will address various sessions on contemporary topics like Role of Commerce Education in Skilling Youth for $5 Trillion Economy, Indian Accountants Rising to Global Demand and more.

Delivering the Presidential Address CA. (Dr.) Debashis Mitra, President, ICAI said that “The Institute has always been a partner in nation building supporting the various initiatives of the Government. He emphasized the important role of ICAI as a standard-setter, regulator, educator and examiner.”

President, ICAI added “ICAI as an Educator collaborate and work shoulder to shoulder with all the academic institutions/universities. He mentioned that ICAI’s Proposed Scheme of Education and Training incorporates the significant features of the National Education Policy, 2020 through introduction of self-paced online modules, where learning and assessment would be online. He drew reference to the Honourable Supreme Court’s appreciation of the manner of conduct of examination by ICAI. The Institute of Chartered Accountants of India aspires to be the leading accounting body by 2030.”

CA. Aniket S Talati, Vice President, ICAI began his address by mentioning that “The Institute would be entering its 75th year and ICAI has been contributing significantly in the economic growth of the country. He further stated that India has been the technological capital and now is becoming the accounting hub of the world.” He said that the line between science and commerce is getting blurred and technology has penetrated into the accounting area. He added that this Summit has specific technical sessions analysing the impact of technology in the field of education.

Speaking about CA curriculum, Vice-President, ICAI added “The Institute has launched its International Curriculum and shall play a significant role in enriching accounting education across the globe.”

Further, CA. Dayaniwas Sharma, Chairman, BoS (Academic), ICAI added that “ The implementation of Model Curriculum will play a pivotal role in enhancing business acumen, analytical skills and financial literacy of the youth today thereby making them more employable in the national as well as global market.”

This summit aspires to highlight promising opportunities in aligning the nation’s commerce and accounting education in order to make India a “Vishwaguru” in the accounting world. Leading academicians, researchers, and scholars in the fields of commerce and accounting from universities all over India is gathered at the summit to discuss how to equip commerce graduates with the skills they need to succeed in India and around the world for One India—One Accounting—One World. The Institute also put forth a model curriculum under the heading “ICAI Exemplar: Preparing Future-Ready Commerce Graduates”.