The days of January 6 to 8, 2012 saw the conclusion of an international conference by the Institute of Chartered Accountants of India (ICAI). Titled “Accountancy Profession: Leveraging Emerging Challenges for Inclusive Growth”, the conference aimed at
understanding the challenges and scope of the accountancy profession, as the financial world grapples with opportunities and threats alike. The CA Institute has been a strong proponent of regulating the accountancy practices in India, and evolving a common
set of global standards for the same. Organizations like the IFRS have been working towards the same for some time now.
The conference was inaugurated by the Hon’ble Finance Minister of India, Pranab Mukherjee, and saw around 2,000 participants from all over the globe. Mr Mukherjee praised the profession of chartered accountancy, attributing to it a crucial role in the country’s overall development. He said, “India is emerging as a great economic
power and Chartered Accountancy is an important tool to make fair, transparent and systematic economic system.”
The president of ICAI, G. Ramaswamy, also addressed the conference on this occasion, and said, “Accountancy profession is rededicating itself to newer level of commitments for meetings demands of trust, relevance, expectation gap and utility. The focus is now on adherence to high values, by focusing on sustainability and in process espousing the concerns of varied set of stakeholders including the small & medium sized entities.”
The three-day conference ended with distribution of “ICAI Awards for Excellence in Financial Reporting”, which seeks to reinforce the practice of accounting standards among various entities.
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