ICAI CCM Resigns, Alleges Neglect of CA Students and Misuse of Student Funds on WOFA, Foreign Travel:

CA Madhukar N. Hiregange has announced his resignation from the Central Council of the Institute of Chartered Accountants of India (ICAI), along with his decision to surrender his Certificate of Practice (COP) in the coming week. He said the decision was taken after deep reflection and was not triggered by any single incident or disagreement.

Hiregange said that during his latest tenure, which began in 2025, he worked to promote new areas of professional practice, including artificial intelligence, technology, GCCs, ESG, cybersecurity and digital transformation. He also highlighted nearly 50 weekly webinars focused on values, leadership, resilience, adaptability, lifelong learning and ethical professional conduct.

However, he said his major concerns over governance, transparency, accountability, electoral practices and student welfare remained largely unresolved. According to him, he raised these issues for more than 18 months through meetings, written communications and personal discussions. He claimed that more than 50 detailed communications were sent to Council members, Government Nominees, the Secretary and other officials.

A major concern raised by Hiregange was the treatment of CA students. He alleged that student funds were being used for activities such as Past Presidents meets, Tirupati Darshan, Wofa, Branch and RC members meets, unnecessary international travel, general lack of internal control across centre, branches and RCs and unauthorised expenditure. He also alleged a lack of adequate internal controls and instances of unauthorised expenditure across the ICAI's central, branch and Regional Council structures.

He further criticised what he described as delays in student-focused reforms and expressed concern that the interests of students were receiving less attention than institutional politics and elections. He also raised concerns about transparency, online voting, proper policies and segment reporting.

Hiregange said institutions become weaker when difficult questions are ignored and ethical concerns are treated as inconveniences instead of priorities. He argued that democratic leadership should involve not only majority support but also moral responsibility and the willingness to examine whether decisions are right.

While stepping down, Hiregange said he does not hold personal bitterness towards anyone and remains proud of being a Chartered Accountant. He said he will continue working for students, members and young professionals, focusing on ethical leadership, professional excellence, mindset transformation and capacity building. He concluded that leaving the Council does not mean losing faith in the CA profession, but rather refusing to compromise on the values that brought him into public service.