International Conference 2019

The two days International Conference organised by the Institute of Chartered Accountants of India (ICAI) was inaugurated yesterday i.e. December 6, 2019 at Mumbai. The Conference “Accountancy Profession: Catalyzing Reforms, Creating Values” was a part of ICAI’s effort to dwell deeper into emerging paradigm of Accountancy Profession and ensure continuous professional development of its members.

On the 2^nd day of the Conference, the participants were addressed by important dignitaries Shri Piyush Goyal, Hon’ble Minister of Railways, Commerce & Industry, Shri Suresh Prabhu, Hon’ble Member of Parliament & Prime Minister’s Sherpa to G7 & G20, Shri Thomas Chazhikadan, Hon’ble Member of Parliament in the presence of CA. Prafulla P. Chhajed, President and CA. Atul Kumar Gupta, Vice-President and Central & Regional Council Members, ICAI.

The Accountancy profession as an integral part in the process of transition has witnessed a paradigm change in its contributory role; in every sphere of economic activity. While moving to the role of a value creator, ICAI has endeavoured to imbibe the best practices model by analyzing the best approach as available amongst varied corporates in different parts of the world and has been playing the role of an enabler by getting the relevant stakeholders exposed to such best practices.

The International Conference provided an apt platform for ideas exchange and ushered interactive dialogue amongst the global and local accounting fraternity and other stakeholders. Renowned experts from international bodies including doyens from Trade and Industry in India addressed the participants and shared their words of wisdom.

Shri Suresh Prabhu, Hon’ble Member of Parliament & Prime Minister’s Sherpa to G7 & G 20 said “Chartered Accountants are essential pillars of the economic system. I am myself is a very proud member of the CA profession.”

He further added “Chartered Accountant as a community and ICAI , as a body can also contribute significantly to the economic growth. The combined intellectual capital of the CA fraternity under able leadership of ICAI would be able to reach the goal of quality economic growth.”

Shri Thomas Chazhikadan, Hon’ble Member of Parliament said “Chartered Accountancy profession is one of the oldest profession and is more relevant nowadays. The history of accountancy profession is thousands of years old and can be traced back to oldest ancient civilization. In my opinion one of greatest advantage in the history of accountancy profession is invention of double entry system of book keeping. Without accountancy there could not have been any industrial revolution, most of the innovations or inventions would have been inaccessible to humanity.”

He further added “ Just like a complex statutory system depends on single click of code, the entire world of economy is dependent on phase of finance and accounting. The major task that needs to be addressed by accounting profession is the implementation of technology tools into the field of accounting.  The future of accountancy is crucially linked with the expertise and knowledge in the areas like blockchain, machine learning, artificial intelligence to name a few.

The Conference witnessed participation of more than 1100 professionals from Pan India and Overseas.