My Dear Professional Colleagues, |
At this juncture of my professional journey, I find it extremely gratifying and blessed to take over as the 67th President of The Institute of Chartered Accountants of India, more so in its Platinum Jubilee year. It is an honour to serve the largest statutory, accounting and auditing professional body of the world that was set up by an Act of the Indian Parliament, i.e. Chartered Accountants Act, 1949. |
ICAI’s inspiring journey of excellence, integrity and independence will continue. At this moment, let us celebrate continuity and change- continuity of great fundamentals and legacy and change of professional approach and demeanour in sync with our times for a better and secure future. The spirit to change for better will let us evolve with every passing year, retaining the lustre of our golden tradition. |
New Council, New Vice-President and Expectations |
I congratulate all members of the 24th Council of the Institute, including the new entrants, and expect each of them to work together towards a collective vision and mission of professional excellence. |
Homage to Our Brave Soldiers |
As we know, in a ghastly and gruesome attack on our CRPF personnel in the Pulwama district of Jammu & Kashmir, 40 personnel were killed. We strongly condemn this despicable and cowardly act. I extend my heartfelt condolences to the families of those martyred. I wish to inform that the Ministry of Home Affairs has undertaken a benevolent initiative in support of the families of the martyred and created a platform called India’s Bravehearts (Bharat Ke Veer), whereby the people of India can directly donate to the individual accounts of the families of our Bravehearts. Please check https://bharatkeveer.gov.in/home for further details. I urge all of you to help those families. |
Platinum Jubilee Annual Function to Celebrate Excellence |
ICAI that has traversed so far about 70-year long enduring journey of professional excellence and integrity celebrated its Platinum Jubilee Annual Function recently on 4th February 2019 in New Delhi, which was inaugurated by the Comptroller & Auditor General of India Shri Rajiv Mehrishi, in presence of members of Central and Regional Councils. Shri Mehrishi acknowledged: Chartered Accountants are world-class professionals and are recognised worldwide. Key achievements of the profession during 2018-19 were recalled on the occasion. Special attraction of the event was distribution of awards and certificates under various categories to meritorious students, winning Branches, Regional Councils and overseas Chapters of the Institute. I am sure, we will continue to uphold the Institute’s legacy of trust, ethical conduct and journey of integrity. A detailed report of the function is published separately in the Journal. |
Interim Budget 2019 Presented by Our Member |
A balanced Interim Budget 2019 was presented, for the first time in the annals of Indian history, by a Chartered Accountant - our interim Union Finance Minister CA. Piyush Goyal. With an objective to transform India into a $5-trillion economy by 2025 and a $10 trillion by 2030, the Finance Minister has laid down India’s Vision 2030 during the Budget. I am sure, my professional colleagues will contribute to the agenda of our Government towards achieving the moderate taxation-high compliance regime. |
ICAI-ARF Meets Defence Personnel |
I wish to inform that ICAI-ARF recently held a meeting with Group Captain Sameer S Ali and Col. R. Oberoi who are currently undergoing the Higher Defence Management Course at the College of Defence Management, Secunderabad, a premier training establishment of Indian Armed Forces. As part of their course curriculum, a group of officers have undertaken a project on Accrual System of Accounting in Indian Army, for which the team is interacting with all stakeholders to arrive at the effective implementation of the proposed system. They were informed of our decision to waive off 50 per cent fee of the wards of Indian Forces, if they join the CA course through the Commerce Wizard. |
ICAI Awards in Financial Reporting Held in New Delhi |
As you know, effective financial reporting has always played a significant role in the economic growth of a country, enabling the relevant stakeholders in taking effective business, investment, regulatory decisions. ICAI Awards for Excellence in Financial Reporting was held on 2nd February 2019 and awards were considered for a total of 16 categories. Out of 175 participants, 10 entities were awarded. ITAT President Shri P. P. Bhatt, who took charge as head of ITAT in October 2018, was the Chief Guest. We felicitated him along with other ITAT Vice-Presidents and Members. This year, selection of awards was finalised by an eminent jury headed by a former SEBI Chairman Shri U. K. Sinha. |
2019 Convocations Held across the Nation |
I am happy to inform that ICAI Convocations 2019 was held on 1st February 2019 simultaneously in Mumbai, Ahmedabad, Pune, Chennai, Hyderabad, Kolkata, Jaipur and Kanpur and on 9th February 2019 in New Delhi. In the convocations held in New Delhi, Hon’ble Chief Minister of Delhi Shri Arvind Kejriwal was the Chief Guest who inspired the newly-enrolled members with his words of wisdom and advised them to work hard in the interests of the country. Overall, across India about 9000 newly-enrolled members were awarded Certificate of Membership in the convocations. |
Infrastructure Initiatives Strengthened |
I am happy to inform that we recently inaugurated the buildings of Surat and Bhopal Branches on 30th January and 21st February respectively. Also, the bhoomi poojan was performed at Patiala and Ujjain Branches of the Institute on 18th and 21st February respectively towards their endeavours to have their own building. And I am sure, such measures will facilitate our Branches in extending better and effective services to our members and students. |
Results of Intermediate (IPC and New) Examination Declared |
Results of Chartered Accountants Intermediate (IPC) and Intermediate (New) examinations held in November 2018 have been declared. While Mr. Arjun Minocha got first rank in the Intermediate (IPC) examinations with 74.14 per cent marks, Mr. Shubham Malhotra secured 82.13 per cent marks to top the Intermediate (New) examinations. I congratulate both of them and all other qualified candidates of both the examinations. To those who couldn’t qualify despite their honest efforts, my message is—work harder with greater zeal. |
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My vision is to create opportunities for my professional colleagues, take up initiatives of public interest and national growth, and support our Government as a true partner-in-nationbuilding. Personally, my focus will be to address the expectation gap in public and elevate the image of CA profession to a higher pedestal. Small and medium practitioners of the profession will be a priority of my agenda. Also, I will see to it that our profession gets more in sync with the vision of national regulators. Being a regulator of accountancy profession and a strong partnerin- nation-building, it is natural that we work in tandem and unison with all of them. |
CA. Prafulla P. Chhajed President, ICAI Mumbai, 23rd February 2019 |
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