A person of high integrity and professional excellence, CA. Manoj Fadnis has taken over as the supreme torch-bearer of Indian accountancy profession. He was elected as the President of the Institute of Chartered Accountants of India (ICAI) for the year 2015-16 by the 22nd Council of the Institute on February 12, 2015. Having gained deep insights into the profession as a fellow member of the ICAI with 28 years of impeccable professional standing, he was the Vice President of the ICAI for the Council Year 2014-15.
A selfless hard-worker and down-to-earth personality bestowed with exceptional organisational, administrative and leadership skills, he has been serving as a Central Council member since 2001, for five consecutive terms. He passed his B.Com. from Indore University and qualified as a Chartered Accountant in January 1987. He has been in practice ever since. He also holds Diploma in Information Systems Audit (DISA).
CA. Manoj Fadnis is also Deputy President of Confederation of Asian and Pacific Accountants (CAPA) for the term 2015-17. Having passionately represented Indian accountancy profession on the international front, he has contributed in various meetings and programmes of IFAC, SAFA, CAPA and many other international bodies. He was also ICAI nominee in the meetings of the National Standard Setters and the World Standard Setters, Asia Oceanea Standard Setters Group and Emerging Economies Group.
He represents the ICAI on the Board of Insurance Regulatory and Development Authority (IRDA), besides being the Chairman of XBRL India. He is also the Chairman of the Accounting Research Foundation (ARF) of ICAI.
He has been nominated as a member to the Companies Law Committee constituted by the Ministry of Corporate Affairs, Government of India. He has also been nominated as a member of Audit Advisory Board of Comptroller & Auditor General of India.
Known for his passion for professional uplift, he has shown his professional skills and acumen in all tasks and responsibilities assigned to him both at national as well as international levels. In the Central Council of the Institute, he has been proactively involved in the functioning of the ICAI in various capacities, viz. as Chairman, Vice-Chairman and member of its various Committees. As the ICAI President in charge for shaping the profession this year, he is now the chairman 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 also the ex-officio Member in all the Non-Standing Committees of ICAI and Editor of The Chartered Accountant.
A trusted and credible leader, CA Manoj Fadnis is liked for his strong values, high integrity and empowering style while serving the profession in various capacities. During his stint in ICAI Council ever since 2001, CA. Manoj Fadnis has made noteworthy contributions in whatever capacity he served the profession, particularly as the Chairman of various important Committees/ Boards like Board of Studies, Direct Taxes Committee, Committee on Economic, Commercial Laws & WTO and Accounting Standards Board (ASB), etc. He was also on various Standing Committees of the Institute like Disciplinary and the Examination Committees.
As Chairman of the ASB, he has been widely credited with the formulation of the Indian Accounting Standards converged with the International Financial Reporting Standards, which were originally notified in February 2011. He was also the convenor of the Group on Capacity Building which framed the network and merger-demerger of CA firms and corporate form of practice in 2004-05.
An outstanding facilitator of ICAI and accountancy profession as a leading partner in nation building, he has been nominated on the board of public companies by the Ministry of Corporate Affairs. He is also on the board of listed companies as independent director, besides being on the board of Directors of Indore Management Association. He was nominated as Director on the Board of State Bank of Indore from 2002 to 2005 besides having been nominated on the Audit Board of M.P. Co-operative Board, Bhopal.
A seasoned professional, he was elected to the Managing Committee of Indore Branch for the term 1992-95 and later elected as Chairman of the Branch in 1994-95. He was also elected to the Central India Regional Council for the term 1995-98 and was elected as its Chairman in 1997-98.
With a strong expertise in technical matters he has written articles in various magazines including ‘The Chartered Accountant’. He has also been the visiting faculty in management colleges for the subjects related to the profession.