In India, the seventy-five years of independence were measured by industrial, agricultural, educational development and women empowerment. Agriculture is the source of raw material supply for the textile industry, Export and food processing companies. Agriculture falls under the MSME sector and is honoured with schemes, loans, and subsidies for monetary issues. Finance professionals, lawyers, engineers, doctors, and managers contribute to national development. Undoubtedly, Chartered accountants below forty of age with a list of achievement is a charismatic people. This blog presents you with the effort of ICAI and CNBC TV 18 to find such personalities and honour them with an award. Readers and members of ICAI with matching qualifications and experience should submit the details as a nomination. Chartered accountants work in industries and public services and also promote the MSME sector. The 75 years of independence would be logical with a tribute to the professionals contributing to the national growth. The celebration is till 15th August 2023. By 2023 India completes 76 years of independence. The milestone of long years would be celebrated with growth and personalities behind the tremendous growth.
CNBC TV18 Campaign:
Individual recognition is essential to put the actions into plans. The campaign recognises the leaders from the chartered accountancy profession with aforesaid demonstrated excellence. The quantity of winners is restricted to the number forty. The limited professionals represent the group of professionals. ICAI believes that forty is the age to make a change in the nation. The web portal ca40under40.com provides the details of the entry to the celebration.
Nominations:
The nominations are assessed with a systematic assessment. The jury will see the performance as per the primary areas of leadership qualities. ICAI President, ICAI vice president and CNBC top officials will present the award to the selected candidates. The invitation for the graced evening will be sent to the winners after the final list preparation. The policymakers of the country and nation builders meet together to build a powerful nation. Chartered accountants are the pillars of India. They contribute to prompt tax payment, revenue generation, capital market movement and capital generation. The reason for recognising the skills are listed below:
• Recognition for achievement explains the meaning of achievement.
• Young chartered accountants inspire upcoming professionals with success stories. The story of these professionals will motivate the chartered accountants to think out of the box and write success stories.
• Lead the finance profession with best practices.
• Enhance the business income and economic growth.
• The spirit of working with other professionals as a team and getting recognition for the work promotes a teamwork attitude among young professionals.
Areas of focus:
The jury team check the achievements with the following aspects: business impact, contribution to the ecosystem, and relativity. The chartered accountants work as auditors, consultants and entrepreneurs. The following points explain the characteristics of chartered accountants with leadership qualities.
Business impact:
The role of chartered accountants starts from the planning stage and ends with the reporting stage. He contributes to tax planning, budget planning, capital planning, financial activities, non-financial activities, maintenance of books of accounts final accounts preparation, and audit report preparation. Chartered accountants use analytics and big data to improve audit quality. Check the reports with physical verifications, and evidence. Thus, grow the best practices for different departments.
Chartered accountants help in tax planning and cost analysis for new markets. Thus they also work as entrepreneurs. Chartered accountants contribute huge ideas to business planning and promotion.
Contribution to the ecosystem:
Mr Rajnath Singh, the defence minister of India, rendered a speech in the workshop organised by the Lucknow chapter of ICAI. He said that similar to the soldiers, chartered accountants are the custodians of the business system in a country. The business system is maintained and promoted by chartered accountants. He further mentioned that start-up companies are increasing in India. The start-up company’s numbers have grown from 500 numbers to 60,000 numbers. This shows that new idea and makes in India dream projects are bringing changes to India. He said that cell phones are useful in the way that they engage poor people to invest in the stock market. Investment knowledge helps poor people to multiply money. The role of chartered accountants promotes the Indian ecosystem and global ecosystem. Chartered accountants promote MSME industries, small-scale industries, stock markets and digitalisation. These avenues of business contribute to the business ecosystem in India.
Relativity factor:
Audit reports should be relative and futuristic. The audit reports explain the financial statements and plan to the investors. Banks, regulators and creditors check the audit reports before sanctioning loans, credit or compliances. Chartered accountants promote relativity and goodwill to businesses.
Conclusion:
The celebration of Indian independence and the contribution of chartered accountants enhance the strength of professionals. ICAI has more than 3.5 lakh members. Approximately 7.5 lakh students are studying in this institute. Igniting the inner energy with a motivational story will lead to many success stories. Chartered accountants bring change to the economy with a purpose. The committee of members in Industry and business create a link between the business professionals and the ICAI institute. They organise interviews with the members of ICAI. The top professionals from ICAI arrange the job interviews. They bring change to the economy. Similarly, the forty young chartered accountants should bring change to the auditing profession with their services.
