When was icai established

Election - Institute's Program. Know Your Ethics. Quick Links. The Institute of Chartered Accountants of India. ICAI at a Glance. The Institute, on its part, is putting the vast experience of its structure and its members at the disposal of those charged with governance. In this process, the Institute, at regular intervals, provides technical advice and necessary inputs in respect of the following : Comptroller and Auditor General of India - provides technical advice in response to references received including maintenance of audit panels, issues arising out of audit and accounts of government companies and public sector undertakings.

Reserve Bank of India - provides technical advice and maintains constant touch in regard to matters pertaining to bank audits and audit of non-banking financial companies etc, Y2K issue etc.

Actively involved in offering suggestions to simplify tax laws and their administration for the purpose of making it more responsive to tax payers.

Insurance Regulatory Authorities - helps the authority in redesigning the format of accounts of insurance companies both in the life and non-life sectors and provides necessary inputs in response to references received. Following the initiative taken by the Institute, more and more Departments of the Central and State Governments of the country are approaching the Institute for utilising the services of chartered accountants for advice on economy in expenditure, development of control mechanism over public funds, optimum and effective use of funds.

In addition, the Institute also provides necessary inputs, from time to time, to the Trade Policy Division, Ministry of Commerce of the Govt. The Institute of Chartered Accountants of India has a quite long standing and had celebrated its Golden jubilee in the year The scope of the services that a chartered accountant can provide is constantly increasing by way of enactments in the various statutes.

The government as well as the public has shown greater level of confidence in the value-added services provided by the Indian chartered accountants. The Institute always participates in analysing various provisions in the national laws and submits its suggestions to government in that regard and at times, its suggestions are well accepted. In the recent years the ICAI has grown in its size as well as in its operations.

The Institute would soon become a virtual institution. The projects of e-learning and e-education would be largely accomplished. The Knowledge Portal would be able to meet all knowledge and information needs of the members particularly small and medium sized, to a large extent.

As a Virtual Institution, it would be able to provide all kind of services to members and students at their doorsteps. Organisational set-up The affairs of the Institute are managed by the Council in accordance with the provisions of the Chartered Accountants Act, and the Chartered Accountants Regulation Functions of the institute The main functions of the Institute of the Chartered Accountants of India are prescribing qualifications for membership, holding examination and arranging practical training of candidates, enrollment of members, publication and maintenance of register of members qualified to practice the profession, carrying on activities for development of the profession and regulation and maintenance of status and standard of professional qualification of the members.

Administration All statutory functions and many other important functions assigned to the Council by the Chartered Accountants Act, are administered by the Administration. Board of studies The functions of the Board of Studies are primarily to impart education to the students of the Chartered Accountancy Courses basically through distance education mode.

Disciplinary mechanism The Institute has a pro-active Disciplinary Cell to ensure compliance of professional ethics and Code of Conduct in terms of the Chartered Accountants Act as well as various pronouncements issued by the Central Council of the Institute. He lauded our endeavours e.

He said that the ICAI has established itself as a premier accounting body while maintaining high accounting, auditing and ethical standards. Let us gear up and prepare strong grounds for the upcoming new tax landscape of our nation.

It is said that with a right mix of education and our determination, we can change our present and set right our future. Our education and profession has the power to inspire its students and members to become the people of ethics and integrity, which today is an urgent requirement.

To celebrate the happiness of our newlyqualified members and present the Certificates, we hold convocations. Incidentally, this also serves the purpose of developing their bonding with the existing professional fraternity.

Convocations have been recently conducted in Chennai, Pune and Jaipur in this month. I am really happy that we are witnessing an enthusiastic participation of new members.

I congratulate all the successful candidates and sincerely wish them a fulfilling professional life ahead. The tax audit season has begun which gives us enough opportunity to test and make the best use of our expertise to the core. In this backdrop, the Chartered Accountants have been mandatorily entrusted with a very important responsibility to keep the wheel of growth running by ensuring compliance of provisions of Income-tax Act and Rules thereof of certain class of assessees by way of Tax Audit.

As such, it becomes an important national and social duty of CAs in India, which has to be performed in the actual spirit of the legislative intent behind introduction of tax audit to the expectation of both the clients and the Government. I wish you all the success in most effective completion of Tax Audits. As you know, the Government of India has launched Swachh Vidyalaya Abhiyaan with an aim to provide separate toilets for boys and girls in all government schools throughout the country.

Central public-sector undertakings governed by the Ministries of Power, Coal and New and Renewable Energy has undertaken the job of constructing new toilets as well as repairing the existing dysfunctional ones using their CSR funds.

Union Minister of Power, Coal and New and Renewable Energy Shri Piyush Goyal had desired that the physical outcome of such activities be suitably verified and the services of the Chartered Accountants be availed for this purpose on a pro bono basis. With an identity of a partner in nation building, we had published an announcement in this regard asking our members to confirm their interest in supporting the aforesaid initiative of our Government.

These were some of the highlights from the recent developments in the accountancy profession which I wanted to share with all of you. At this stage, when we are completing 66 years of our glorious existence, I would like to admit before all of you that we have really come a very long way since I feel proud of the way we have grown and got acceptance and recognition globally. We are not just the second largest accounting body of the world, but also among the global institutions that offer the most relevant and comprehensive accountancy education to its followers and practitioners.

The number of Branches and overseas Chapters is rising. Our international associations are expanding. Let me salute each and every stakeholder of the profession who has responsibly contributed for this success. While I feel contented while looking at the state where Indian accountancy today is, I would never ever like to let this contentment come in the way of our ongoing endeavours.

Accountancy profession in India will continue to take initiatives and measures in order to contribute and regulate the robust Indian economy. Personally, a successful journey always comprises countless smaller steps which may consist of successes and failures. Failures make us wiser in our journey while strengthening the relevance of success.

When we respect our failures by learning from them, we become stronger. According to Elbert Hubbard, there is no failure except in no longer trying. I always believe in moving on whether it is success or failure.

Therefore, it is not just about what happens with us but, in fact, what we do when that happens with us. Ultimately, we will have to create a space for ourselves beyond our defeats and wins. Let us begin our day with a conviction to add, create, and move ahead. Best wishes.

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