A combination of erudition, foresight and professional excellence, CA. Subodh Kumar Agrawal has become the supreme torch-bearer of Indian accountancy profession as the President of the Institute of Chartered Accountants of India (ICAI) for the year 2013-14. A fellow member of the ICAI with 24 years of standing, he was elected as the President by the 22nd Council of the Institute on February 12, 2013. He was the Vice President of the ICAI for the Council Year 2012-13. An altruistic hard-worker bestowed with exceptional organisational, networking, administrative and leadership skills, he has been serving as Central Council member for two terms since 2007. An illustrious and versatile accountancy professional since 1988, who is known for his passion for professional uplift, CA. Agrawal was elected to the ICAI Council for third term with unparalleled success and support of the membership, claiming 56% of the votes polled that is a record in itself.
CA. Subodh Kumar Agrawal has shown his professional skills and acumen in all tasks and responsibilities assigned to him both at the Council, national and international levels. Hailing from Kolkata, he has specialisation in the area of Audit of Private and Public Sector Entities. He has also been providing Consultancy Services in the fields of Accounting & Auditing, Corporate Laws, Corporate Governance, Restructuring of Business, Mergers, Amalgamations, Demergers, Securities and Exchange Board of India, etc.
An ardent proponent of ‘brand Indian CA’ and accountancy profession globally, he has passionately represented Indian accountancy profession on the international front. He has recently been appointed as member of SMP (Small and Medium Practices) Committee of International Federation of Accountants (IFAC) for the year 2013–15, and he has also been appointed as Vice President of South Asian Federation of Accountants (SAFA) for the year 2013. Earlier, he had also served on the ‘Committee on Professional Ethics and Independence, Committee for Improvement in Transparency, Accountability and Governance, Committee on Professional Accountants in Business and Committee on Quality Control Review of SAFA. He has also put forward Indian accountancy profession’s views in various meetings and programmes of IFAC, SAFA, Confederation of Asian and Pacific Accountants (CAPA) and many other international bodies.
An outstanding facilitator of ICAI and accountancy profession as a leading partner in nation building at national level, he represents the ICAI in the ‘Insurance Advisory Committee’ constituted by the Insurance Regulatory and Development Authority (IRDA), and in ‘High Level Steering Committee for Implementation of XBRL-based Data Submission by Banks’ besides being the Chairman of XBRL India. He has also served as a member in Working Group to review the existing prudential guidelines on restructuring of advances by banks/financial institutions constituted by RBI. He also represents ICAI in the ‘Standing Committee on Accounting Issues’ constituted by Insurance Regulatory and Development Authority. In 2008, he was appointed as Task force Member by Department of Public Enterprises for MoU in Mining and Metal Sector and in the year 2009 for Petroleum Sector. He has also commendably performed as member of Banking and Financial Services Sectional Committee - MSD 7 constituted by Bureau of Indian Standards. He is also Independent Director in various companies and ‘Accounting and Research Foundation’ (ARF) of the ICAI.
A seasoned professional with a futuristic vision, CA. Agrawal, in his illustrious inning in the Council, has served on important positions in both Standing and Non Standing Committees of the ICAI. He has been actively involved with the functioning of the Central Council of the Institute in various capacities, viz. as Vice President and Chairmen, Vice-Chairmen and member of its various Committees. As President, he is the chairmen of all the standing committees of the ICAI viz. Examination Committee, Finance Committee and Executive Committee besides being Presiding Officer of the Board of Discipline (Under Section 21-A), Disciplinary Committee (Under Section 21-B) and chairman Disciplinary Committee (under section 21D). He is the ex-officio Member in all the Non-Standing Committees of ICAI and Editor of The Chartered Accountant journal. As the Vice President of the ICAI, he was the Vice-Chairman of all the Standing Committees and also the Member ex-officio in all Non-Standing Committees of ICAI and Joint Editor of The Chartered Accountant journal.
He has made noteworthy contributions as Chairman Public Finance Committee (2008 and 2009), Audit Committee (2008-09), ‘Committee for Members in Industry (2010-11), Ethical Standards Board (2011-12), and as a member of Executive Committee of ICAI (2007). He has also distinctly served as Convener of the group for Satyam Report - High Powered Committee (2010-12). During the period in ICAI Council, he has also remarkably contributed as Member in various Non-Standing Committees such as Accounting Standards Board, Auditing and Assurance Standards Board, Direct Taxes, Indirect Taxes, International Taxation, etc.
Before his election to the Central Council of the ICAI, CA. Agrawal had also made notable contributions in Eastern India Regional Council as he became the Secretary of the EIRC of ICAI in 2004, Vice Chairman in 2005 and Chairman in 2006. Under his dynamic Chairmanship, the Eastern India Regional Council was honoured with ‘Best Regional Council Award’ in the year 2006.
Known for his hard work and selfless services to the accountancy profession, CA. Agrawal is also a prolific speaker and has addressed various seminars, symposia and conferences at national, regional councils, branches and ICAI Study Circles level across the country on various issues of professional interest. He has also addressed programmes of many other organisations of national and international repute.
Having been a brilliant student, CA. Agrawal secured 10th rank in Final Examination of Chartered Accountancy in the year 1988. He did B.Com from Kanpur University.
His other areas of interest include sports and reading management and professional books.