The Institute of Chartered Accountants of India (ICAI) is organizing a two day International Conference on the theme “Accountancy Profession: Convergence and Sustainability in Digital Era” on December 8-9, 2017 at Hotel Sahara Star, Mumbai. The International Conference at Mumbai, the financial capital of India, is going to be an apt platform for ideas exchange and usher interactive dialogue amongst the global and local accounting fraternity and other stakeholders. The dawn of a digital society juxtaposed with traditional avatar of an accountant role is leading to reskilling need for professional accountants and Institute’s endeavour is to provide continuous education in the emerging context.
Ms. Rachel Grimes, President, IFAC (International Federation of Accountants) will be the Guest of Honor at the Conference. From ICAI, CA. Nilesh S Vikamsey, President, ICAI, CA. Naveen N.D. Gupta, Vice-President, ICAI , Central & Regional Council Members, ICAI would be attending the Conference along with number of participants from India and abroad.
A media interaction was organized today in Mumbai to share the highlights of the International Conference. During the interaction, CA. Nilesh S Vikamsey, President, ICAI said “The Chartered Accountancy profession in its multifaceted avatar, on one hand is working with Government and Institutions to anchor Governance for Sustainability and on the other hand is acting as a catalyst to business growth by adding elements of credence and trust to financial reporting through wider involvement of its members.”
He further added “In its perpetual quest for excellence, the CA Profession brainstorms continually to expand its horizon for development, progress and in turn excellence, this Conference will be a step in this direction.”
Ms. Rachel Grimes, President, IFAC has endorsed the increased use of artificial intelligence and bots in the professional routines of accountants. While interacting with the media Ms. Grimes added “Accounting industry needs to embrace technology to work smarter and more efficiently. The use of artificial intelligence and bots will encourage Auditors to look forward and will give them more time to analyze data.” The Accounting Industry shall be implementing the advance technology like Machine learning and AI, to streamline operations.
The International Conference starting from December, 8th shall dwell upon many important topics of economic relevance. Some of the major thematic issues of the Conference are:
- Accountancy in the Disruptive Era
- Future of Audit - Critical Issues
- Technology Impact on Accounting
- Taxation in the Disruptive Era - Challenges and Opportunities
- GST: Leading to One Nation One Tax
- Strengthening Public Finance with Accrual Information
- Integrated Reporting - Future of Reporting
- Indian Capital Markets - Anchoring Economic Growth
- Financing India’s Growth-Challenges and Way Forward
- Financial Sector Reforms - Empowering Economic Growth
- GST - Enhancing Competitiveness, Transparency and Growth
There are various sessions during two day Conference which shall be addressed by eminent personalities from Government sector, Regulators, Global Accountancy Forums, Industry and practitioners etc. The list of the speakers is attached for reference. Given the stature of the event and the range of topics to be deliberated, the Conference provides a unique opportunity to access the emergence of new thought process on contemporary issues and professionally upgrade oneself. The conference brings together national and international perspective on issues of contemporary relevance to accountancy profession and is likely to see participation of about1500 professionals and business leaders.
The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. ICAI is the second largest accounting body in the world with a strong tradition of service to the public interest and to the Indian economy. During its more than 68 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for maintaining highest standards in technical, ethical areas and for sustaining stringent examination and education standards.
Since 1949, the profession has grown leaps and bounds in terms of membership and student base. Starting with a handful of about 1700 members, today, the strength of Chartered Accountant fraternity has grown to over 2.80 lakh members. On the education front, the ICAI began with mere 259 students and today 8.00 lakh active students are a part of ICAI. The Institute functions under the Ministry of Corporate Affairs, Government of India. It has its headquarters in New Delhi and 5 Regional offices in Chennai, Kanpur, Kolkata, Mumbai and New Delhi. It presently has 163 branches spread all over the country. In addition, it has also set up 30 chapters outside India and an overseas office in Dubai.