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

The ICAI, recognizing its role and responsibility to the stakeholder community and contributing in promoting public interest through resilient practices for a vibrant economy, organizes ICAI International Conference every year. With the pandemic enforcing the new normal, the Conference this year would dwell deeper on various strategies, innovations and initiatives through which the profession can support the economy.

CA. (Dr.) Jai Kumar Batra, Secretary, ICAI welcomed all the distinguished guests.

While addressing the CA fraternity, Shri Nitin Gadkari, Hon’ble Minister said “Chartered Accountants are one of the main pillars of the economy. It is time for our economy to develop the role of Chartered Accountants so that they help in accelerating the Indian economy”

The Minister further added, “ The Indian MSMEs are giving excellent viability and income to the investors. It is also time for our country to attract foreign investment into the sector and this is where the role of Chartered Accountants is very important. I would request the Chartered Accountants community to suggest ways and innovative approach to attract maximum foreign investment into the MSME sector.”

Shri Gadkari stated, “To make India AtmanirbharBharat , we are trying to accelerate the growth rate of our economy. There is a huge potential for Indian entrepreneurs in the global market and this offers an appropriate opportunity for India. The role of Chartered Accountants is important here as they understand the problems of the economy and can guide the country as to how to increase our exports and decrease our imports”

The three day Virtual Conference will deliberate on the issues related to Sustainable Growth, Digital Era, MSMEs, Tax reforms and alike. This Conference will provide an apt opportunity for delegates to empathize with the challenges and opportunities available while dealing with areas of contemporary and emerging interest in global economy. More than 3,000 professionals from across the globe are participating. Many topics would be deliberated and addressed by more than 70 speakers.

CA. Nihar N Jambusaria, President, ICAI said “The Accounting profession is concerned with adding value to economies and CA profession in India is truly adding value to the process of economic and social development. World over the pandemic broke out in 2019 but its impact was felt in the last two years. Even the Accounting profession was affected but we as a community of Chartered Accountants ensured that our services empowered our clients to present their accounts as comprehensively and punctually as they would have been done under normal circumstances”

He added, “ICAI has taken various initiatives in recent times for the sustained economic growth that will serve not only the members but also the stakeholders at large. ICAI is contributing to nations’ growth with its model of Independence, Excellence and Integrity and has now moved on to become the most revered Institute in the field of education and professionalism”.

The ICAI has played a pivotal role in developing a resilient reporting framework for sustained economic growth of the nation from last over seven decades. The accountancy profession has endeavored to bring in the best global practices and standards for a robust financial reporting and assurance framework thus inspiring trust and confidence amongst the stakeholders.

It is the constant endeavour of ICAI to keep its members updated with the changes and developments while also upgrading their knowledge base and skill sets. In turn, the members have emerged even stronger and are empowered to face new challenges with more confidence, expertise and skills.

The ICAI Virtual International Conference is one such effort to enhance the knowledge base and skills set of CA members to enable them to contribute to the economy in the best possible manner.

In his address, Mr. Alan Johnson, President, IFAC stressed that Sustainability & digitization are two of the most pressing issues and appreciated ICAI for being proactive by making optimum use of technology and forming a Sustainability Reporting Standards Board and for organizing International Sustainable Reporting Awards. This would lead the change which would lead the future.

The Conference would witness renowned experts in the area of accounting and auditing from various International bodies including doyens from India’s Trade and Industry. Various sessions shall be addressed by eminent personalities from the Government Sector, Regulators, Global Accountancy Forums, Industry and practitioners etc.

CA. (Dr.) Debashis Mitra, Vice-President, ICAI while presenting Vote of thanks said “ICAI in its glorious journey of over 73 years, has established itself as the leading International Accounting body with over 3.5 lakh members, more than 7.50 lakh students, 5 Regional Councils, 164 branches. The Institute has 44 Overseas Chapters and 29 Representative Offices spanning across 47 countries. The reach of Institute of Chartered Accountants of India has had seen his formation way back in July 1st, 1949”

He further added “It is very important that information technology and the latest technological development are adopted by the whole Accounting fraternity. We at ICAI are aware of the importance of block chain and Artificial Intelligence and we are trying to do our best in these areas.”

The ICAI Virtual International Conference will delve upon areas of emerging issues and challenges, and shall galvanize the profession to recalibrate itself for the digital paradigm, to be at vanguard of promoting public interest.