ICAI Hosts Strategic Meet at Centre of Excellence (CoE) Jaipur deliberating on the Role of CAs in Viksit Bharat 2047

• ICAI will release its Vision Document 2049 on July 1st 2024 outlining the role of CAs and Accountancy Profession to make our nation Viksit Bharat @2047
  
  
• ICAI plans to open 9 more CoEs across the country in the next 3 years fostering Research, Innovation and Skill-building
  
  

The Institute of Chartered Accountants of India (ICAI) while celebrating its 75 years of formation hosted a two-day Strategic meet at the Centre of Excellence (CoE) in Jaipur on 21st and 22nd March, bringing together ICAI Past Presidents and Central Council Members discussing around the pivotal role of Chartered Accountants in Viksit Bharat @2047 and outlining a roadmap for the next 25 years for the profession when ICAI approaches its centenary milestone.

ICAI will be coming out with a Vision Document 2049 that will intricately focus on various facets such as the Development of Students and Members, Strengthening Regulatory and Reporting Mechanism, Embracing new-age technological advancements such as AI, Contribution of CAs in the growth and development of the Country, Enabling Sustainability ecosystem, Strengthening Research studies across diverse areas including accounting, assurance, taxation, finance, technology, and business advisory services, all aimed at bolstering the economic development of the nation.

On this occasion, CA. Ranjeet Kumar Agarwal, President ICAI, along with CA. Charanjot Singh Nanda, Vice-President, ICAI interacted with the media in Jaipur and shared major highlights of the meeting.

CA. Ranjeet Kumar Agarwal, President ICAI said, “We are excited about the future of ICAI as we celebrate 75 years of excellence and look ahead to our centenary milestone. Our Strategic meeting at the Centre of Excellence in Jaipur focused on 'Viksit Bharat 2047 and the role of Chartered Accountants,' highlighting our commitment to shaping India's financial landscape. With a strong focus on technology, skill-building, and sustainable practices, ICAI is poised for continued growth and innovation. Our upcoming Vision Document 2049 will pave the way for the next 25 years of empowering our members and contributing to a greener, more sustainable financial sector. Our commitment to growth is reflected in our expanding network of Centers of Excellence which will equip the next generation of CAs with essential technology and skills”

He further informed that in order to leverage the technological advancement for the benefit of members, students and employees, for the first time, ICAI has formed a Committee on “AI in ICAI” aimed at harnessing AI's potential for professional development and operational efficiency. In addition to technological advancements, ICAI emphasized its commitment towards strengthening the sustainable ecosystem of the country. He stressed that Sustainability Standards being developed by the ICAI will drive environmental accountability and corporate compliance in the years to come, reflecting ICAI's dedication to sustainable business practices.

Additionally, ICAI announced its expansion plans for its Centre of Excellence (CoE) network across India. With existing CoEs in Hyderabad and Jaipur, ICAI aims to establish 9 more additional CoEs across India in the next 3 years. This strategic expansion will bolster advanced learning, research, and development opportunities for accounting professionals nationwide.

The Institute's proactive approach towards embracing technology and sustainability reflects its commitment to excellence and innovation that aligns with the national goal of India becoming a developed nation by 2047. The discussions also underscored the critical role of financial services in this strategic roadmap, recognizing it as an integral component of India's development journey.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body established on 1st July, 1949 by an Act of Parliament, viz., The Chartered Accountants Act, 1949 for developing and regulating the profession of Chartered Accountants. The Institute, which functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India, has 5 Regional Councils, 175 Branches covering the length and breadth of the country and 50 Overseas Chapter, 31 Representative Offices in 81 cities of 47 Countries all across the World. With over 8.50 lakh students and around 4 lakh members, today the ICAI is the largest professional body of Chartered Accountants in the world.