The National Chartered Accountants'(CA) Day is annually observed across India on July 1st to commemorate the establishment of the Institute of Chartered Accountants of India(ICAI) by the Parliament under the Chartered Accountants Act, 1949.
The day highlights the importance of Chartered Accountants in bringing transparency to the economy.
The year 2021 marks the celebration of the 73rd National Chartered Accountants’ Day.
Event 2021:
As a part of the celebration of 73rd CA Day, ICAI has organised a virtual event “Remembering the glorious existence and envisioning the Future”.
Administration of ICAI:
i.ICAI, functions under the administrative control of the Ministry of Corporate Affairs, Government of India.
ii.It is managed by the council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988.
Significance:
i.The ICAI is the second largest professional body of Chartered Accountants in the world
- Chartered Institute of Management Accountants (CIMA) is the world’s largest and leading professional body of management accountants.
ii.ICAI is the only licensing and regulatory body for the financial audit and accounting profession in India.
ICAI launched a financial & tax literacy drive:
i.As a part of the 73rd Chartered Accountants’ Day, the ICAI has launched a financial and tax literacy drive to educate the general public about the financial and tax literacy drive.
ii.ICAI has also launched a multilingual portal for all the digital e-learning resources and a tool to support the firms to identify their audit quality maturity level.
iii.ICAI has launched a mobile app on quality learning services for CA students.
iv.ICAI has also waived the fees for the CA Students who have lost both the parents or a single parent due to COVID-19. This scheme will be effective for the next 2 years.
About Institute of Chartered Accountants of India(ICAI):
President– CA. Nihar N Jambusaria
Headquarters– New Delhi
