In a landmark event held on 24th February 2024 in Kolkata, CA. Ranjeet Kumar Agarwal, the newly appointed President of the Institute of Chartered Accountants of India (ICAI), introduced the institute’s ambitious vision for the future, termed “Drishti.” This unveiling marks a significant milestone in the journey of one of the world’s largest accounting bodies.
Setting the Stage: A Visionary Address
CA. Agarwal commenced the event by underlining the indispensable role of the ICAI in setting standards, fostering fiscal responsibility, and contributing to India’s economic growth. With over 4 lakh members and 8.5 lakh students, the institute’s influence extends far and wide, both nationally and internationally. Notably, CA. Agarwal emphasized the institute’s commitment to gender equality, with a substantial representation of women among its members and students.
Charting the Course: The “Golden Period of the Profession”
Aligning with the Indian government’s vision of attaining developed nation status by 2047, CA. Agarwal unveiled a strategic roadmap spanning 2024 to 2049. Termed the “Golden Period of the Profession,” this initiative aims to propel the accounting profession to new heights, with the institute’s centenary year serving as a pivotal juncture.
Unveiling “Drishti”: A Multi-Faceted Approach
Under the overarching theme of “Drishti,” CA. Agarwal outlined several key initiatives aimed at fostering innovation, integrity, and skill development within the profession. These include:
- Digitalisation: Harnessing the power of technology through initiatives like the E-Office and the integration of AI and blockchain.
- Research: Collaborating with the government to enhance tax compliance and establishing partnerships to address accounting and auditing challenges.
- Integrity: Introducing the Unique Document Identification Number (UDIN) scheme to ensure the authenticity of documents certified by Chartered Accountants.
- Skill Development: Revamping the education and training scheme for CA courses, with a focus on ethics and technology.
- Transparency: Implementing peer review mechanisms to enhance audit quality and accountability.
A Commitment to Excellence: Towards a Brighter Future
The event concluded with a vibrant Q&A session, where CA. Agarwal addressed queries from the audience, reaffirming the institute’s dedication to advancing the profession and contributing to nation-building efforts. Looking ahead, ICAI’s initiatives are poised to elevate the stature of accounting professionals both domestically and on the global stage, fostering growth, innovation, and excellence.
