Chennai, : The Institute of Chartered Accountants of India (ICAI) has achieved recognition for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.
ICAI regularly contributing to the accounting bodies and to society, ICAI is regularly making representations on the issues in the Companies Act 2013 related to the profession. There are several positive developments particularly on Accounts, Audit & Auditors.
New Window of professional opportunity for CAs, the Delhi Assembly has recently passed, The State Government will now form a committee which will get accounts of private schools audited through Chartered Accountants. This Bill will achieve its objectives for the good of Delhi education system.
On the occasion, CA.M.Devaraja Reddy, President, ICAI said, starting with a handful of about 1700 members, today, the strength of Chartered Accountant fraternity has grown to over 2.50 lakh members. On the education front, the ICAI began with mere 259 students and today more than 8.75 lakh active students are a part of ICAI. The ICAI has 5 Regional offices and 153 branches all across the country. The ICAI overseas Chapters continue to spearhead ICAI work program in 27 important jurisdictions globally.
To curb the generation of black money in various sectors, Central Board of Direct Taxes (CBDT), Ministry of Finance, Government of India decided to go all out and conduct workshops which were organized by ICAI to clarify doubts of the assesses regarding scope, procedures etc. of the new legislation namely Black Money. ICAI has launched a 6 days Certificate Course on Anti Money Laundering Laws (Anti- Money Laundering Specialist).
ICAI has played a very important role in taking Indian financial reporting system to newer heights and achieving international benchmarks by taking necessary initiatives from time to time. The ICAI had recommended the revised roadmap to the MCA in August 2014. As per the corporate roadmap, in the initial phase of Ind AS becoming mandatory from 1st April, 2016 about 1000 listed/unlisted companies are expected to implement the Ind AS. This number is likely to increase next year as all remaining listed companies and unlisted companies having networth of more than Rs. 250 crores will get covered in the next year.
Further he added, to establish the footprints and marks of excellence of the Indian CAs across the globe through a strong network of foreign chapters, which presently have more than 12,000 members in their fold, ICAI has established 27 overseas chapters.
ICAI in partnership with the Institute of Certified Public Accountants in Ireland (ICPAI) has launched a new Programme to enable the members to access career opportunities across Ireland. ICAI regularly conducts different Placement Programmes for the newly qualified and experienced Chartered Accountants. 1163 members had registered for availing the benefits of this programme. ICAI also endeavors to organise more such programmes in other countries as well. 738 members have been shortlisted in the first level. The quality of the members has been highly appreciated by the prospective Irish employers.
On the occasion, CA.Nilesh Shivji Vikamsey, Vice President, ICAI, said, ICAI is organizing Campus Placement February- March 2016 at 21 centres across the country in two phases. In second phase, campus interviews shall be conducted at 6 bigger centers namely Bangalore, Hyderabad, Chennai, Kolkata, Mumbai and New Delhi during March 2016. Till date, 5692 candidates have registered for the programme and 75 companies are participating in the programme.
ICAI had made an announcement to its members inviting them to confirm their interest in supporting the Swachh Bharat Abhiyaan. ICAI taken students initiatives like Revised Scheme for Education & Training in terms of Foundation Entry, Direct Entry, Recognition by Renowned University and Institutes, Reading Rooms, Smart class rooms, e-Learning initiatives, Online Answer Books, Online Correction Post-Submission.
