The most awaited global accountancy event: the 21st World Congress of Accountants (WCOA) was inaugurated today in Mumbai at Jio Convention Centre, Mumbai.

The 4-day event was inaugurated by Shri Om Birla, Hon’ble Speaker of Lok Sabha and Smt. Nirmala Sitharaman, Hon’ble Minister of Corporate Affairs & Finance delivered a keynote address.

While addressing the audience during the inaugural ceremony, the chief guest Shri Om Birla, Hon’ble Speaker of Lok Sabha congratulated ICAI for hosting such a grand event for the first time in India and South Asia. He said, “The profession of Chartered Accountants is one of the most prestigious professions in our country and the world. CA’s are not only contributing towards promotion of industries and running business, but also playing a significant role in attracting investment in the country.” He further added, “The World congress highlights the importance of knowledge-based economy and the significance of accounting at global level. The essence of the Congress lies in the fact that if the accountants from all around the world work together we can create a better future for the world.”

The keynote speaker Smt. Nirmala Sitharaman, Hon’ble Minister of Corporate Affairs & Finance, said “This conference is happening at the time when the world is at reset and facing lots of challenges. I hope that through this forum our conversations rotate around social, economic, and environmental sustainability, along with exploring the integration of upcoming technologies like Web3, artificial intelligence, cloud, blockchain and data analytics. I am sure the congress will come out with takeaways that will provide solutions that dominate the transparency and accounting problems for India and for several countries.”

She further added, “The Independence of Chartered Accountants is extremely Important and significant for the trust and Integrity of financial statements.”

In attendance and part of the welcoming panel were CA. (Dr.) Debashis Mitra, President, ICAI and CA. Aniket Talati, Vice-President, ICAI. Also present were Central & Regional Council Members of ICAI along with delegates from International Accounting Organizations, Firms, Regulators, Economists, Academicians, Commerce Groups, Business Leaders and Accounting and Finance Professionals.

While welcoming the guests at the event CA. (Dr.) Debashis Mitra, President, ICAI said, “It’s an absolute pleasure and privilege for ICAI to welcome delegates and guests from across the world who have joined us here in Mumbai to inaugurate the 21st World Congress of Accounts. ICAI is one of the premier accountancy body of the world and we are hopeful that the 21st WCOA will be an exemplary event that will generate new ideas, innovations and strategies on the global economic challenges and engender economic growth and development leading to sustainable economy.”

Mr. Alan Johnson, Outgoing President, IFAC, said "It’s my honour and privilege to welcome you all to 21st WCOA. Since 1904; IFAC has been the global voice of chartered accountants in the world. World Congress of Accountants in the next upcoming days, will host panels addressing the following areas in accountancy: Public interest in sustainability, the reliability of stakeholder on accountancy, navigating economic recovery, enhancing trust and confidence in sustainable insurance engagement and championing integrated mindsets. We are proud to collaborate with ICAI and India to bring forth this event here in Mumbai. This Congress in fact the largest gathering in the history of congress.”

Extending the vote of thanks; CA. Aniket S. Talati, Vice-President, ICAI said, “ICAI welcomes you all at the opening ceremony of the 21st World congress of Accountants. It’s a matter of great pride for us and the entire country to host this prestigious event for the first time. This conference will provide a platform to connect with the best-in-the-world from the accountancy and the finance profession and to deliberate issues of professional importance & economic development.”

The inaugural ceremony was followed by a plenary session on ‘Accountancy profession: Trusted partner in sustainability and society’.