ICAI Celebrates Platinum Jubilee Annual Function
Signs MoU with Invest India to promote foreign investment
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The Institute of Chartered Accountants of India (ICAI) celebrated its Platinum Jubilee Annual Function on February 4, 2019, which witnessed the presence of more than 1200 members from the CA Profession who are providing their services in various niche areas of the businesses & are playing an important role as strong pillars of the Indian Economy.
Coinciding with the Platinum Jubilee celebration, ICAI, under the aegis of the Committee for Export of CA Services & WTO of ICAI, also signed a Memorandum of Understanding (MoU) with the Invest India. The objective of the MoU is to collaborate and promote foreign investment in India and Indian investments outside India. The MoU also intends to provide necessary guidance and advice to the potential inbound and outbound investors and to promote and facilitate India as an investment-friendly destination.
For nearly seven decades, ICAI has established its mark as a vital partner in the economic growth of the nation. As the premier accounting body in India and the second largest in the world, ICAI has extended significant contribution in the fields of education and professional excellence by upholding highest values and standards in Accounting, Auditing and Ethical Conduct.
Rajiv Mehrishi, Hon’ble Comptroller & Auditor General of India addressed the gathering and said, “Chartered Accountants are world-class professionals and are recognised worldwide. The expectations from the CAs are high & I am sure that the Chartered Accountants will face all the upcoming challenges very diligently.”
He further added, “GST is the biggest Taxation reform of last 7 decades & I am happy to share that ICAI has risen to it very well.”
ICAI has played a key role in making of a robust Indian corporate sector and its glorious prominence on the global horizons. Since its inception, ICAI has emerged as the regulator and developer of trusted and independent professional world-class competencies in the areas of Accounting, Assurance, Taxation, Finance, Business Advisory Services and alike.
CA. Naveen N.D.Gupta, President, ICAI said, "ICAI is continuously engaged with the formulation and implementation of national policies with utmost diligence to catalyse the dream of New India by 2022 and entry into 5 trillion dollar economy group in next 5 years." He further added, "ICAI is the national standards setter and the only institution in India mandated to issue accounting and auditing standards."
Naveen Gupta further added "ICAI has robust Disciplinary Mechanism and the professional Code of Ethics. ICAI formed additional benches including special Bench for Public Interest cases to expedite the process. Further, an e-hearing framework has been initiated this year."
During this age of increasing globalization and interdependence of national economies, ICAI has demonstrated its resilience to the changing situation and growing demands. Globalization has accelerated the shift in focus from Numbers to Strategic Thinking, thus metamorphoses the role of accountants as critical members of the management team.
CA. Prafulla P. Chhajed, Vice-President, ICAI said" The remarkable journey which our Institute has undertaken in the last over 69 years has seen its transformation leading to one of the largest Accounting body in the world. ICAI members will continue to uphold the Institute’s mission of promoting reliability and trust in the financial information."