Chartered Accountants’ Day – 1st July 2016

CA Course: Completing 67 years of economic excellence on 1st July

Chartered Accountancy is widely considered as one of the toughest professional courses across Indian Education system. Further, Chartered Accountants are said to be  torch-bearers of Indian Economy. Such has been the growing popularity of the profession that currently, more than 8,50,000 students are pursuing Chartered Accountancy course across the country.

Institute of Chartered Accountants of India (ICAI) is the second largest accounting body of the world. 

Why 1st July is considered as Chartered Accountants’ Day?

Institute of Chartered Accountants of India (ICAI) was enacted as a professional body under Chartered Accountants Act, 1949 and this act came into force from 1st July 1949. Hence 1st July is regarded as Chartered Accountants’ day.

ICAI has completed 67 years of glory & excellence and under the able leadership and participation of its members, it has been growing leap and bounds.

Events and programmes in Jaipur on 1st July

Jaipur Branch of ICAI is considered as one of the biggest branches in the Central India Regional Council (CIRC) of ICAI. Hence 1st July is celebrated at a great level in the Jaipur Chapter.

This year also, blood donation camp shall be organised in the branch wherein several CA and non-CA persons shall donate blood for the good cause.

Also free medical health check-up shall be organised wherein medical check-ups of CA students shall be conducted by doctors of esteemed institutions of Jaipur. Free health related consultancies are also given by the doctors in health check-up.               

Role of CAs in the current Indian Economic System

ICAI is one of the most esteemed organizations that participate in almost all consultation processes impacting the tax system run by government and other bodies. CAs are shouldered greater responsibility in ensuring integrated professional services to their clients to increase India’s share in global economy. 

Importance of ‘Board of Studies’

Board of Studies, the academic wing of ICAI has been solely responsible for administering Chartered Accountancy curriculum imparting theoretical education to students undergoing Chartered Accountancy course.

BoS as fondly called among CA students has entered into Memorandum of Understanding with various universities enabling CA students to acquire BBA,,, MBA degrees.

Under the able flagship of BoS, various national conventions for CA students, quizzes, technical seminars etc. are organized throughout the year which  help the students to update themselves with the latest knowledge in different professional subjects.

Current Scenario of CA curriculum and the changes

Chartered Accountancy course is perfectly blending theoretical knowledge with practical experience. As far as finance courses in India concerned, CA is one of the finest courses available while help you hone world-class competencies in accounting, auditing, assurance, taxation, management, business advisory and many other streams.

Currently, CA curriculum has undergone a changing phase to align itself according to the current Industry demands and global economy needs. Different committees have provided their extensive feedbacks for the course and an effort has been made to align entry (CA foundation) and exit (CA Final).

Unlike the yester years where the Foundation result gave a creamy start to many of the CA Aspirants which led them into a dark and miserably challenging 4 years of the course, only the students who have that edge in writing skills will be given the opportunity to proceed further from CA Foundation, thus making the deserving candidates clear the Foundation rather than the non-deserving folk that stepped in due to lenient Foundation exams.

A great change has also been made in Intermediate and Final Curriculum which shall lead to impartment of extensive global economic knowledge in students. Training programmes organised at different levels to sharpen the communication and management skills of students have also been re-formulated while norms related to articleship have also been slightly changed.

Today, Chartered Accountancy course is one of the highly revered and coveted professions in the world. With the fast evolving economic world, the role of the Chartered Accountants has become very critical and challenging. As Goods and Service Tax (GST), Indian Accounting Standards (Ind AS) and Companies Act 2013 are knocking the doors of Indian Corporate and Economic System, role of Chartered Accountants is going to be even more vital in the growth.     

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