The Institute of Chartered Accountants of India (ICAI), the regulator of Accountancy profession in India, celebrated its 66th Chartered Accountants Day today all across the country through its 150 branches & 5 Regional Councils. To commemorate the occasion, a function was organized at New Delhi on July 1, 2015. CA.Piyush Goyal, Hon’ble Minister of State (I/C) of Power, Coal and New & Renewable Energy was the Chief Guest at the occasion.

Starting with a handful of 1700 members, today, the strength of Chartered Accountant fraternity has grown to more than 2.35 lakh members. On the education front, the ICAI began with mere 259 students and today almost 8.50 lakh students are part of ICAI.

At the outset Shri V.Sagar, Secretary, ICAI welcomed all the dignitaries, the members in the profession and esteemed guests.

While addressing the gathering Shri Sagar said “Accountancy as a profession has evolved over the time and has attained a coveted position as a result of constant pursuit for perfection, integrity, skills and knowledge. Today ICAI commemorates the achievements, celebrates the contribution of CA professionals. Our past should not laed us to complacency rather is enhances our responsibility to strive for the betterment.”

In his Presidential address, CA.Manoj Fadnis, President, ICAI welcomed the dignitaries and distinguished gathering. The President on behalf of the Council and the entire fraternity said “The 66 year long saga of ICAI radiates with glorious milestones that stand as the acknowledged cornerstones of India's economic growth. Shaping the nation's progress with its professional excellence and expertise, ICAI upholds the values of independence, excellence and integrity in every sphere of economic and social system.”

The President added that “Since its inception in 1949, ICAI has covered an illustrious journey by enriching the nation, adding professional value and benefitting the society. The ICAI has grown into a premier national Institution assuming new roles and responsibilities. With a stupendous growth in the economy, the profession of Accountancy is all set to scale new heights by demonstrating values and attributes which are synonymous with CA profession.”

CA.Piyush Goyal, Hon’ble Minister of State (I/C) of Power, Coal and New & Renewable Energy while congratulating the profession remarked “It is a moment of truth for the profession to be a fundamental edifice to be overall process of national development. The profession has developed itself as an enabling instrumentality-for businesses, governments, regulators and the stakeholders”

Hon’ble Minister added “Chartered Accountants are the guardians of financial probity. In the growth and development of India, the accounting profession, perceptibly is playing a dynamic role in ensuring stability and sustainability of the National growth. I am fully confident that the Institute and its members would continue to meet the expectation of the Government. ” Further, he complimented the Institute for having accepted his request to help in the audit of sanitation programme that the Government of India has embarked upon. He urged the members to register for this project on pro bono basis.

Hon’ble Minister spoke about the 3 mega social security initiatives - one pension and two insurance schemes i.e. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) launched by Hon’ble Prime Minister. These initiatives are aimed at providing affordable access to essential social security protection in a convenient manner and address the issue of very low coverage of life or accident insurance and old age income in the country. The Minister urged the CA fraternity and the students to ensure that the benefits of these schemes reach out to every individual in their environment. The strength of over 2.35 lakh members & more than 8.50 lakh students can have a large impact on the society & take forward this initiative by leaps and bounds.

During this age of increasing globalization and inter-dependence of national economies, ICAI has demonstrated its resilience to the changing situation and growing demands. Globalization has accelerated the shift in focus from numbers to strategic thinking, thus metamorphoses the role of Chartered Accountants as critical members of the management team.

While delivering the Vote of thanks, CA.M.Devaraja Reddy, Vice-President, ICAI said “Today the Chartered Accountants are acknowledged worldwide for their adept portrayal of trust, reputation, excellence, objectivity, diligence and righteousness. ICAI firmly believes that having a strong accounting profession is a key to having a strong financial infrastructure in a country and it directly reflects the ability of the country and of individual companies”

Vice-President also added “ICAI has achieved significant milestones in the field of accountancy and is poised to play a greater role in changing the global landscape and strengthening the foundation of resurgent India by taking the profession to the newer zeniths.”

During the function, the “Revised Scheme of Education and Training for CA Course” was launched along with other new publications brought out by various Committees of ICAI.