ICAI

The IT revolution has changed the world irrevocably. Asia is rising and the India is one of the fastest growing economy of the world. In a borderless world, where individual economies have merged within the global order, challenges and opportunities too have undergone a swift change, bringing along with it a need for the Chartered Accountants around the world to upgrade their skills and excellence. Today, CAs shoulder responsibilities beyond their conventional duties and make up the core strength of major business houses by being a part of feasibility studies, raise financial resources, ensure compliance with regulatory framework, capital structure and planning, organizational development, recovery consultant, financial management and policy determination, Market Research & demand studies, quality Audit, Energy Audit, installation of efficient accounting, budgetary control as joint ventures, foreign collaborations, amalgamation, mergers, reengineering etc. to name a few areas.

The Indian Chartered Accountant is a rare combination of knowledge, perseverance and integrity coupled with the acumen of analytical skill and the ability to perform and deliver under pressure. More than that, he is bound by a strict code of ethics, prescribed and governed by the Institute of Chartered Accountants of India, according to which a member of the ICAI is required to be fair, honest and sincere in his approach to any work, professional and/or otherwise assigned to him.

Eastern Region of Institute of Chartered Accountants of India organized its Convocation on 12^th August, 2011 at “The Oberoi Grand” at Chowringhee Road, Kolkata. Membership Certificates and Rank Certificates were awarded during the Convocation Ceremony by Chief Guest – Shri Bratya Basu, Hon’ble Higher Education Minister, Govt. of West Bengal and Shri Shovan Chatterjee, Hon’ble Mayor of Kolkata Municipal Corporation, West Bengal, CA. G Ramaswamy, Hon’ble President, ICAI and CA.Jaydeep Narendra Shah, Hon’ble Vice-President, ICAI.

Shri Bratya Basu, Hon’ble Higher Education Minister, Govt. of West Bengal congratulated the Rank Holders and the newly qualified Members for their achievements. While quoting great scientist Albert Einstein and Sociologist Max Weber, he reminded the students about their responsibility towards nation, society and ethics. He was of the view that good governance includes minimum state intervention in the education system and at the same time he emphasized the need of establishing a rational and innovative academic world.

Shri Shovan Chatterjee, Hon’ble Mayor of Kolkata Municipal Corporation, West Bengal while congratulating the newly enrolled members and students he congratulated the Institute for its contribution in formulating Accounting and Auditing standards. He mentioned that the Municipal authorities in West Bengal is adopting proper Accounting Standards as a part of governance system. He also assured to support the Institute to develop its infrastructure for providing better services to the society.

CA. G Ramaswamy, Hon’ble President, ICAI congratulated the newly enrolled members for their achievement. He emphasized the role of the profession to enhance the quality of Governance through transparency, accountability and integrity. He inspired the Members to dedicate themselves in the service to the Nation, society as well as theirs parents. He mentioned the enactment of Limited Liability Law as an empowerment for the profession. He also shared his vision about the various opportunities including outsourcing and IFRS. While quoting Swamy Vivekananda, he inspired the newly elected members to transform the society and achieve the goal of the life.

In a press conference, attended by more than 25 media house, President mentioned about the various activities of the Institute to improve the governance system of the country. He mentioned about the constitution of a group to address the issue of black money and the president is heading the group. This group will address issue of menace of black money , benami transactions and related issues in view of public interest attached. The group will submit its suggestions to Central Board of Direct Taxes. The president offered the Institute’s service to contribute to the State Governments in its governance system including by presenting a pre-budget memorandum.

CA.Jaydeep Narendra Shah, Hon’ble Vice-President, ICAI congratulated the rank holders and the newly qualified members present. He inspired the Members to shoulder responsibility for growth and prosperity. He emphasized the leading role of accountant professional in the development process and shared his vision for the members as global leaders. He reminded the newly enrolled members about the need of consistent hardwork and updation of professional skill.

CA.V Murali, Chairman Board of Studies, administered the oath to the newly elected members for a better and fair society through their dedication, honesty and professional excellence. He reminded them about their Onerous responsibility to ensure distributive justice for the Nation. He also provided an overview on the contemporary world for a successful accountant.

CA. Abhijit Bandyopadhyay, Coordinator and Central Council Member while extending a warm welcome to the newly enrolled members congratulated them for their achievement. He also reminded the members that it is the professional ethics and accountability distinguishing them in the society.

CA. Sushil Kumar Goyal, Chairman, EIRC proposed a hearty vote of thanks.

The Convocation function being organized by the Institute will strengthen the bond ship amongst the fraternity of Chartered Accountants and bring more attachment and belongingness to the Institute especially amongst the young torchbearers of the profession. The event will definitely inspire the new generation Professional to themselves in the Nation Building Job. More than 380 certificates were awarded to the newly enrolled Members and 10 Rank holders were also felicitated.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its nearly six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the world. We have 5 Regional Councils & 125 branches across the country and 22 overseas chapters.

We have passed through 60 glorious years & celebrated Diamond Jubilee in the previous year. Corporate India has witnessed several stalwart personalities emerging from the Institute of Chartered Accountants Of India. Since its establishment, Institute is associated with all the exercises of the Government of India on Accounting and Audit practices, Corporate Law & Corporate governance. Under the companies Act 1956, Institute’s statutory role in the formulation of accounting standard and Members responsibility as Statutory Auditors have been recognized.

Our Institute has contributed in the process of Nation Building so much so that our Former President, Hon’ble Dr A.P.J. Abdul Kalam said the we are the “Partners in Nation Building”. From Union Cabinet Minister, State Cabinet Ministers to Governors of States, Members of Parliament and Members of Legislative Assembly have been our members.

We have worked with almost all the regulators of the country including Reserve Bank of India, the Registrar of Companies, the Securities of Exchange Board of India, The Ministry of Finance and Corporate Affairs, Comptroller & Auditor General of India.

The Institute has the privilege of having more than 1,75,000 Members and 7,00,000 Students. Our Campus interviews generates employment to thousand of our members and the average pay package that our members obtain range from 8 to 10 lakhs per annum for a fresher. Offshore companies have offered remuneration to the tune of Rs.55 lakhs per annum to fresh Chartered Accountants for various employments outside the country. We have memorandum of understandings with accounting bodies in several countries of the World for reciprocal membership facilities.

Our members who have settled outside the country are respected and are at the helm of affairs.

The Council, the governing body of the Institute has 32 persons elected by the Members of the Institute from amongst the fellows of the Institute and not more than 08 persons nominated Members by the Central Government. The Council is issuing Auditing practices, guidance note and standards in addition to the Accounting Standards to guide the Members in their Professional job.