ICAI to Host Virtual International Conference 2022 In presence of President International Federation of Accountants

Institute of Chartered Accountants of India (ICAI) is hosting a Virtual International Conference in 2022 on the theme “Accountants Creating a Digital and Sustainable Economy,”. In the presence of Guest of Honor Mr. Alan Johnson, President, International Federation of Accountants (IFAC), CA, the Conference was opened today by the Chief Guest Shri Nitin Gadkari, Hon’ble Minister of Road Transport and Highways. Atul Kumar Gupta, Past President, ICAI and CA. Nihar N Jambusaria, President, ICAI, CA. (Dr.) Debashis Mitra, Vice-President, ICAI, CA. Prafulla P Chhajed, Past President, ICAI. Members of the ICAI’s Central and Regional Councils also attended the occasion.

Every year, the ICAI organizes the ICAI International Conference, acknowledging its role and obligation to the stakeholder community and contributing to the promotion of public interest through resilient practices for a dynamic economy. With the epidemic becoming the new normal, this year’s Conference will focus on numerous tactics, ideas, and initiatives that the profession may use to help the economy.

All of the eminent guests were welcomed by CA. (Dr.) Jai Kumar Batra, Secretary, ICAI.

“Chartered Accountants are one of the primary pillars of the economy,” stated Shri Nitin Gadkari, Hon’ble Minister, while addressing the CA fraternity. It is past time for our economy to expand the function of chartered accountants, so that they can assist in the acceleration of the Indian economy.”

“The Indian MSMEs provide tremendous viability and income to investors,” the Minister continued. It is also time for our country to encourage foreign investment into the sector, and Chartered Accountants play a critical role in this. I’d like to ask the community of chartered accountants to offer methods and approaches for attracting the most foreign investment into the MSME sector.”

“To make India AtmanirbharBharat,” Shri Gadkari said, “we are attempting to increase the growth rate of our economy.” In the global market, Indian entrepreneurs have enormous potential, and this presents an excellent opportunity for India. Chartered Accountants play an essential role in this area since they are familiar with economic issues and can advise the government on how to boost exports while lowering imports.”

The three-day Virtual Conference will include topics such as Sustainable Growth, the Digital Era, MSMEs, Tax Reforms, and other related topics. This Conference will give attendees with an excellent opportunity to sympathise with the issues and opportunities that exist while dealing with current and new areas of interest in the global economy. Over 3,000 professionals from all over the world are expected to attend. More than 70 speakers will discuss and debate a variety of subjects.

CA. “The Accounting profession is concerned with contributing value to economies, and the CA profession in India is actually adding value to the process of economic and social growth,” said Nihar N Jambusaria, President, ICAI. The epidemic broke out all across the world in 2019, although its effects were felt in the previous two years. Even the accounting profession was impacted, but as a community of Chartered Accountants, we made sure that our services enabled our customers to deliver their accounts as thoroughly and on time as they would have been under normal conditions.”

“ICAI has taken a number of steps in recent times for sustained economic growth that will benefit not only members but all stakeholders,” he continued. With its philosophy of independence, excellence, and integrity, the ICAI has progressed to become the most prestigious institute in the field of education and professions.”

From the last seven decades, the ICAI has played a critical role in building a resilient reporting framework for the nation’s sustained economic progress. The accounting profession has worked hard to bring in the finest worldwide practises and standards for a strong financial reporting and assurance structure, instilling trust and confidence in all parties involved.

The ICAI strives to keep its members up to speed on changes and advances while also improving their knowledge base and skill sets. As a result, the members have become stronger and are better equipped to meet new problems with greater confidence, competence, and abilities.

The ICAI Virtual International Conference is an example of an endeavor to improve the knowledge base and skill set of CA members so that they may best contribute to the economy.

Mr. Alan Johnson, President, IFAC, said that sustainability and digitization are two of the most pressing issues, and he praised the ICAI for being proactive in using technology to its full potential, forming a Sustainability Reporting Standards Board, and hosting the International Sustainable Reporting Awards. This would be the catalyst for change, which would then lead to the future.

The conference will feature famous accounting and auditing professionals from several international organizations, as well as doyens from India’s trade and industry. Eminent figures from the government sector, regulators, global accounting forums, industry and practitioners, among others, will speak at various sessions.

“ICAI has established itself as the major International Accounting organization with over 3.5 lakh members, more than 7.50 lakh students, 5 Regional Councils, and 164 branches,” stated CA. (Dr.) Debashis Mitra, Vice-President, ICAI, while offering the Vote of Thanks. The Institute is represented in 47 countries by 44 Overseas Chapters and 29 Representative Offices. Since its inception on July 1st, 1949, the Institute of Chartered Accountants of India has expanded its influence.”

“It is critical that information technology and the most recent technical developments be accepted by the entire Accounting fraternity,” he continued. We at the ICAI recognize the relevance of block chain and AI, and we are working hard to improve in these areas.”

The ICAI Virtual International Conference will delve into emerging themes and challenges, and will inspire the profession to re-calibrate for the digital paradigm in order to be at the forefront of public interest promotion.