The Chartered Accountants’ Day is celebrated in India on 1 July every year to mark the establishment of the Institute of Chartered Accountants of India (ICAI) in 1949. The CA day this year marks the 72nd anniversary of the ICAI formation. Reportedly, ICAI is considered to be the world’s second biggest accounting organisation.
Chartered Accountants’ Day History
In the absence of a regulatory body, the profession of accountancy was unregulated in India. During the British era, there was a rule that the firms should have a record of their accounts which could be audited by an auditor. However, there was confusion about the qualification of these auditors and their role over the years in the absence of a regulatory body.
Therefore in 1948, an expert committee recommended the formation of a separate autonomous association of accountants. A year later in 1949, the Institute of Chartered Accountants of India was established through an act of parliament with the aim of helping the accountants regulate their profession.
Chartered Accountants’ Day Celebration
This year, the ICAI is organising several virtual events to celebrate the CA day. These celebrations started from 29 June and will end on 1 July.
Discussions were organised on the topics ‘Resilience and Sustainability in the Times of Crisis’ and ‘Aligning the Profession in the Digital World’.
Union Minister of Railways Piyush Goyal is going to deliver an address on CA day at 3 pm. Along with the dignitaries of ICAI, the minister is going to talk about the vision for the future of CAs.
The web link for the event is available on the website of ICAI.