The Institute of Chartered Accountants of India (ICAI), the regulator of Accountancy profession in India, celebrated its 63rd Foundation Day with a grand function organized at Vigyan Bhawan, New Delhi on July 1, 2011.Hon’ble CA. Rameshwar Thakur, Past President, ICAI, H.E The Governor of Madhya Pradesh was the Chief Guest of the function.
Hon’ble Deputy Chairman, Rajya Sabha, CA. K.Rahman Khan and Hon’ble Minister of State, Ministry of Corporate Affairs, Shri R.P.N Singh were the Guests of Honor. Secretary, Ministry of Corporate Affairs, Shri D.K.Mittal delivered a special address on this occasion. Starting with a handful of 1700 members, today, the strength of Chartered Accountant fraternity has grown to almost 1,73,517 members.
On the education front, the ICAI began with mere 259 students and today almost 8.47 lacs students are a part of ICAI.In his Presidential address, CA.G.Ramaswamy, President, ICAI welcomed the dignitaries and distinguished gathering.
The President on behalf of the Council and the entire fraternity said “1st July is a day for introspection for the CA profession. The profession has made its presence felt dominantly in trade, industry, public administration and every other part of social and economic life. The phenomenal growth in the membership base is a reflection of the confidence and trust which the industry and public at large has in this glorious profession.” He assured that the Institute would continue its endeavors to come up to the expectations of the government and regulators by framing appropriate guidelines/directions for its members to ensure appropriate disclosure in financial information the industry.
The President added “On this occasion of Foundation day, the Institute would rededicate itself to reinforce the values of excellence, independence and integrity – the virtues which we imbibe in our professional work. The Occasion definitely gives us a moment to ponder upon what we achieved so far as a profession and what as a member- integral component of Profession.
He said that for the profession to play a greater role in building the nation, the members need to be trained with latest IT skills. The Vice President said “The Institute of Chartered Accountants of India since its inception in 1949, has been the hallmark of transparency, fair play and efficiency in the field of accounting and auditing. Today the CA profession has attained enviable height as it possesses strong intellectual heritage and a tradition of trust.”