ICAI Aims to Transform India into a Global Accounting Powerhouse

The Institute of Chartered Accountants of India plans to establish 11 Centres of Excellence within three years, aiming to position India as a global hub for accounting and auditing. These centers will focus on financial literacy and specialized areas, with a major event, the World Forum of Accountants, slated for 2025.

The Institute of Chartered Accountants of India (ICAI) unveiled plans to establish 11 Centres of Excellence (CoEs) over the next three years, with a vision to cement India's status as a hub for global accounting and auditing. ICAI President Ranjeet Kumar Agarwal shared these developments, emphasizing the organization's commitment to financial and tax literacy.

The CoEs will concentrate on specialized fields, bolstering India's ambition to become a premier destination for international financial services. An event of significant stature, the World Forum of Accountants, is scheduled for January 2025, as part of efforts to amplify this vision.

Currently, functioning centres are located in Hyderabad and Jaipur, with plans to operationalize a new CoE in Kolkata by 2025. At the Hyderabad CoE, ICAI will host its inaugural residential program titled 'Empowering Trusted Advisors Unlocking the Potential of Family Enterprises' in January. The institute boasts a membership exceeding 4 lakh individuals.

(With inputs from agencies.)