Chartered accountants day or CA day 2022 celebrates the contribution of ICAI in the fields of professional development, education, maintenance, auditing and ethical standards. First July is celebrated as CA day by Chartered accountants in India. Since the incorporation of the chartered accountant’s Act, 1949, CA day has been celebrated in India. To add diamonds to the crown of ICAI, we have collected valuable information about popular chartered accountants in India. National level Chartered accountants day in India marks the history and performance of chartered accountants. On the contrary, international accounting day falls on 10th November. It marks the celebration of a network among accounts professionals. The blog recalls the award distribution conducted by ICAI and the top personalities with CA qualifications. National CA day 2022 celebrates the role of CA in economic development. Chartered accountants get a good salary if they travel out of India also. The top ten countries with a quality life for a CA are Canada, Switzerland, Luxembourg, the United States, Japan, Norway, Australia, the UK, Ireland and Sweden.
ICAI mobile app:
In 2021, ICAI introduced a mobile app for CA students to commemorate the history of the ICAI institute. ICAI has membership with other institutes operating worldwide in other countries. The value of the accounting profession gets enhanced with membership in other institutes. ICAI is the second largest institute for accountancy in the world. Globally, there are 615,000 members of the institute. The institute takes the fourth position in chartered accountancy education. ICAI-BOS is a mobile app for interactive learning. The app will guide the students with the latest news and notification about the assignments, MCQ questions, model question papers, and faculty notes. If the learning material is downloaded the student gets access to it through mobile. The student gets materials offline. The app helps in providing the recorded classes and model tests to the students. This type of learning provides comfort and also saves time. Students need to plan the time, class and preparation properly. Planning help with time management and intensive learning.
ICAI provide awards to appreciate the excellent work. The recognition motivates the professionals and aid in sharing the best practices. The awards categories as per the ICAI design are CA entrepreneur, CA CFO, CA business leader, CA educator, CA hall of fame, CA CXO, CA global achiever and CA special recognition. The key benefit of the professional network is that it connects like-minded people. The network also helps to discover opportunities and technological advancements. It cultivates the habit of person to person learning. The network of professionals discusses the common business challenges and finds the solutions.
Chartered accountants in India:
Indian chartered accountants are known for their performance in multiple sectors. They have a proven record as CFOs, entrepreneurs, educators, and global achievers. The following points delineate the value of chartered accountants from India:
• In 2020, RBI instructed SBI to appoint qualified CA in the top-level management. The State bank of India operates with the top financial professionals. The announcement states that the selected CFO receives the monetary benefit of 75 lakh and one crore as compensation. He must have 15 years of experience, and out of it, ten years should be from a record of the bank audit process. The public sector and private sector demand for chartered accountants to exhibit professionalism.
• Chartered accountants recognised as entrepreneurs from India are RadheShyamAgarwal, cofounder of Emami group, Nirmal Jain, Founder of Infoline group, Rajesh Magow, co-founder of MakeMyTrip, Sonia Singal, co-founder of CA recruitment portal, and DhruvShringi, co-founder of Yatra online.
• Chartered accountants find it easy to understand the finance and prove in the finance-related business. In the above cases, they have become successful in finance, recruitment, healthcare products, and travel Company. The skill in one area caters to the other areas and brings success to them.
• Samir Seksaria, CFO of Tata consultancy services, RiteshTiwari, CFO of Hindustan Unilever Limited, Nilanjan Roy, CFO of Infosys, Soumen Ray, CFO of BhartiAirtel, ShobinderDuggal, CFO of Nestle India, C.S.Muralidharan, CFO of Sun Pharma, and Manish Saxena, CFO of Adani enterprises and natural resources are the popular inspiration for the chartered accountants with CFO position.
How do finance professionals help the economy?
The popular businessman Mr Ratan Tata has said that MBAs are fit for running the business, and chartered accountants are suitable for leadership roles that manage the MBAs. The following points elucidate the role of chartered accountants in nation-building.
• Chartered accountants are like a treasure chest to the nation. Chartered Accountants play a vital role in educating the investors and companies about the tax laws and governing regulations.
• Chartered accountants curb malpractices and corporate frauds.
• Auditors provide a report about the state companies, and it helps to scrutinize the management.
• Chartered accountants help companies to function on an international level. The understanding of the foreign exchange management act and related regulations help towards reaching global customers.
• Auditor reports educate the layman about the company’s financial position. This understanding promotes capital markets and investment opportunities.
ICAI’s digital learning hub provides surveys, blog questions, user-poll, and conferences for the students. The institute renders a continuous learning path through mobile apps, encourages skill recognition through awards, and provides professional knowledge for graduates and postgraduates through special courses. The schemes of the institute promote education, job opportunities and business opportunities. Chartered accountants turned teachers are handling the hard subjects in chartered accountancy institutes. Teaching and writing journals with ICAI is an innovative job for the members. ICAI promotes practical learning and offers specialised knowledge to the students.