In February month, 2023 ICAI celebrated its 73rd Annual function. The function engaged more than 1500 members around the globe. The chief guest was the honourable state minister for parliamentary affairs and culture. Mr Arjun Ram Meghwal served as state minister for heavy industries and public enterprises. He served as chief editor in various religious, social and cultural organisations. He also worked at Bhawana Meghwal memorial trust as a principal advisor. The trust’s mission is to help economically deprived talented students through scholarships.
The chief guest appreciated the chartered accountants in the big crowd. He said that GST operations are executed smoothly in the country with the support of chartered accountants. He said that the international conferences G20 and SCO are happening in India. The period of G20 starts in December 2022 and up to the third quarter of 2023. The participation of chartered accountants in international summits makes it more precise. Chartered accountants contribute to economic development.
The chief guest also appreciated the “We Care” movement of the ICAI for the senior members. The honourable minister said that the philosophy of the Indian constituent is equality, liberty and fraternity. With the educational platform, ICAI takes the Indian philosophy to the domestic and international markets. A blog is here to recall the action plans and growth perspectives of ICAI.
President and vice president speech:
The ICAI president CA Debashis Mitra said that after the completion of the world congress of accountants, the authorities are ready to participate in the G20 summit. He said that ICAI is working with UGC to promote unified commerce education. Vice-president CA. Aniket sunil talati said the successful programs of ICAI. He mentioned MSME yatra, Mega career counselling program and women placement programs.
G20 summit:
ICAI support the obligations of the government. G20 is the international summit. In this event, the discussion about anti-tax evasion, IFRS convergence, money laundering, risk assessment, governance, and litigation showcases the challenges in other countries. In 2016, in china, the 11th summit was celebrated. Inequality, structural reforms, and slow progress are the topics that interest the participants. In the startup-20 engagement group, the goal is to encourage start-ups with G20 nations. The discussions support the synergies between investors, corporates, start-ups, innovation agencies and ecosystem stakeholders. The contribution of ICAI with partnerships from global partners is listed below:
• ICAI conducted a campaign in 75 cities and 22 states in India. The ICAI MSME SETU and ICAI MSME YATRA are the campaigns run by ICAI for the development of entrepreneurship, the MSME industry and start-ups in India. The campaign held from August to November attracted job seekers and business lovers.
• In December 2022, there was a meeting among three professional institutes. The discussions are about the various challenges with the three professions.
• ICAI organised ESG talk programs. These shows enhance the reporting standards.
• ICAI is actively participating in international events. In 2022, the ICAI journal states that the president attended the international conference held in Bahrain, Oman, and Dubai.
• ICAI contribute to the development of society and profession.
What is B20?
Business220 is the dialogue form of G20. The business community around the world communicate through the business forum. B20 is one of the groups created by G20. It was established in 2010. The public interest and economic development is the tradition of ICAI. Now, India has become the prime partner for B20. ICAI will participate in the policy-making process of B20. ICAI is also part of the ESG action council. President Aniket S. Talati said that the partnership is helpful to participate in global policies. The students of ICAI will be given online access to the events of B20. The announcement of ICAI as a prime partner came out in March month. This participation will create growth and economic development.
Placement program of ICAI:
ICAI has a mention in the Asian book of records. This honour is for conducting a mega placement service. ICAI also has programs for women’s placement. Newly qualified CAs have sound knowledge. ICAI provides information about a large group of professionals. The placement drive will happen from February to March 2023. ICAI says that even small companies can take part in the placement program. Irrespective of size and business, companies are open to offering the best jobs to chartered accountants. The recruiters also conduct virtual interviews. The recruiting entities share the requirement in the prescribed template given by ICAI.
ICAI call Sahayata:
ICAI call sahayata is for members and students. The group members in call sahayata are CA (Dr.) Raj Chawla, CA. Purushottamlal Khandelwal, CA. Abhy Chhajed, CA. Sridhar Muppala, and CA. Gyan Chandra Misra.
ICAI Action Plan for 2023-24:
The below points elucidate the action plans of ICAI.
• The Institute is benchmarking the global best practices in Sustainability Reporting requirements and Assurance Standards.
• ICAI is collaborating with Regulators to meet expectations by continuously developing the framework for assurance services to increase stakeholders’ trust and confidence.
• ICAI is increasing the reach of UDIN within government organisations.
• The Institute is focusing on enhancing Audit Quality Mechanism through updated tools through the Centre for Audit Quality.
• ICAI is developing a united forum through different projects under the national aspirational movement of firms.
• ICAI is venturing into Research and adoption of newer technologies such as AI, Data Analytics, Block Chain, Cloud Computing etc.
Final words:
ICAI, as an accounting body, celebrate the different programs, international events, student performance, and placement programs. 73rd Annual function sum up the efforts of ICAI for knowledge transfer, economic development and audit quality. The speech of the president and vice president spotlight the best events of ICAI.
