The President of the Institute of Chartered Accountants of India (ICAI) has encouraged its members to enhance their professional knowledge and embrace technological advancements. This call to action is aimed at enabling practitioners to better support the Micro, Small, and Medium Enterprises (MSMEs) sector, which plays a crucial role in India's economic self-reliance and rural development. The ICAI is actively involved in various initiatives, including participation in 'Azadi ka Amrit Mahotsav', collaboration on the MCA21 V3 system, providing input to the IBBI, and promoting financial literacy.
My Dear Professional Colleagues,
Our nation has shown great resilience and willingness to overcome the ill effects of pandemic and move ahead towards the path of self-reliance. Our economy is not only able to sustain, but is also one of the few growth stories globally because of the will, determination and collective efforts of all the stakeholders. The robustness and inherent strength of Indian economy is further demonstrated by recent developments like highest ever collection of GST in Apri
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FAQ :
The ICAI President urges practitioners to broaden their horizons and perspectives by staying professionally updated and adopting new technologies.
SMPs can support MSMEs through technology upgradation, skill development, suggesting internal controls, knowledge management, enhancing finance options, human resources management, and improving interdepartmental coordination.
The ICAI is making efforts to empower members with various resources, including organising seminars, training programs for the MCA21 V3 system, and constituting an Expert Panel to provide technical support on auditing aspects.
ICAI is committed to financial literacy for the masses, organising Investor Awareness Programmes and launching a Financial and Tax Literacy Drive called 'Vitiya Gyan ICAI ka Abhiyaan'.
Recent activities include participating in 'Azadi ka Amrit Mahotsav', organising an ICONIC Day Programme, working on the MCA21 V3 implementation, submitting suggestions to IBBI, acting as a knowledge partner for IEPFA, and organising orientation programmes for regional council members.
The Expert Panel has been constituted to augment the quality of audits and provide necessary support to practicing members, addressing queries on auditing aspects until 30th September 2022.