Latest news with #ICAI
Time of India
a day ago
- Business
- Time of India
ICAI-Nagpur branch hosts seminar on ‘Use of AI in CA Profession'
1 2 Nagpur: The Institute of Chartered Accountants of India (ICAI) Nagpur Branch successfully hosted a seminar on 'Use of Artificial Intelligence in the CA Profession'. Over 500 members attended the event, which featured expert sessions on AI awareness, CA GPT, and AI in litigations. Chief guest CA Ketan Saiya, chairman of WIRC, emphasised the importance of embracing AI tools to enhance quality, efficiency, and client service. Speakers highlighted the potential of AI to revolutionise professional tasks, provide intelligent recommendations, and offer real-time assistance. The guests of honour, Piyush Chandak (vice-chairman – WIRC), Jeenal Savla (secretary WIRC), and Fenil Shah (treasurer WIRC), also addressed the gathering and shared valuable insights on how the CA profession can effectively transition into the AI era. The seminar commenced with a welcome address by CA Dinesh Rathi, chairman of the ICAI Nagpur Branch, who emphasised the pivotal role of emerging technologies. CA Jitendra Saglani, in his brief remarks emphasised that AI is a companion of Chartered Accountants and not a threat. The seminar provided a platform for members to gain a deeper understanding of AI tools and their relevance in the CA profession. The event was attended by key dignitaries and senior professionals, who added value to the seminar through their presence and support. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Power of Grapefruit: Why You Should Be Eating This Fruit Every Day! Learn More Undo It reaffirmed the Nagpur Branch's commitment to keeping the profession aligned with technological advancement. The event concluded with a vote of thanks to the speakers, dignitaries, and participants for their contributions to the seminar's success. Overall, the seminar was a grand success, strengthening the knowledge base of members and showcasing the potential of AI in the CA profession.
Yahoo
a day ago
- Business
- Yahoo
India-UK FTA to boost accountancy services: ICAI president
The India-UK free trade agreement (FTA) is anticipated to significantly enhance the flow of high-value professional services into India. According to the Economic Times, Institute of Chartered Accountants of India (ICAI) president Charanjot Singh Nanda said that this development will benefit thousands of chartered accountancy firms and professionals. 'By actively engaging with the commerce and industry ministry, the ICAI ensured liberal market access and the inclusion of a reciprocity clause protecting the use of the 'chartered accountant' title,' Nanda said. Nanda highlighted India's advantages, including cost efficiency, a skilled workforce, and a strong reputation, as key benefits from the FTA. India has committed to opening 108 sub-sectors of services, such as accounting and auxiliary financial services, to UK firms under the trade agreement signed last week. In exchange, the UK will provide Indian companies access to 137 sub-sectors, covering nearly all of India's current services exports. Nanda stated that the ICAI also advocated for mutual recognition of qualifications, allowing Indian chartered accountants to register and practice in the UK on a reciprocity basis. The ICAI, through its Council, offered technical inputs on licensing, qualification recognition, and digitally delivered services, leading to the inclusion of cross-border supply under Mode 1 services. 'This opens significant outsourcing opportunities in areas such as bookkeeping, tax, and consulting,' he added. The ICAI also facilitated provisions for commercial presence under Mode 3 services, enabling Indian firms to register and operate in the UK without discriminatory restrictions while maintaining the principle of reciprocity. In other news from the Indian accountancy sector, earlier in July 2025, the ICAI invited public comments on proposed amendments to Regulation 204 of the Chartered Accountants Regulations, 1988. The amendment introduces 'Forensic Investigation' as a recognised field, expanding the scope for chartered accountants. Published in the Gazette of India on 26 June 2025, the draft regulations are open for feedback until 31 July 2025. The ICAI Council will review all comments before finalising the Chartered Accountants (First Amendment) Regulations, 2025, which will take effect upon publication in the Official Gazette. "India-UK FTA to boost accountancy services: ICAI president " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
4 days ago
- Business
- Time of India
CAs make valuable contributions to economic development : Horatti
Hubballi: Chartered Accountants (CAs) are involved in the fair presentation management of taxpayers' accounts and advise them to pay correct taxes to the govt's exchequer. They played a key role in systematic revenue collection by providing appropriate guidance on the tax payments that should be made to the treasury, said Karnataka legislative council chairman Basavaraj Horatti. Inaugurating the 38th Auditors' Conference here on Friday, Horatti explained how the Institute of Chartered Accountants of India (ICAI) played a vital role in maintaining the country's financial discipline over the past 75 years. "No businessman can be successful without proper accounting," he opined. Madhukar Hiregange, member, ICAI New Delhi, focused on the poor condition of Kannada primary and secondary schools in Karnataka. "It is not known how the funds announced in the budget by the govt to provide good primary education to children are being spent," he added. Aniket Talati, a CA from Mumbai, said that the ICAI incorporated digital technologies into the CA curriculum and is providing guidance on how to implement artificial intelligence in business enterprises successfully. Central Council member CA Purushottam Lal Khandelwala stressed the need for a peer review of the audit work and a comprehensive review of documents and collection of evidence. CAs Akshaykumar Singhi, Manjunath Meti, Pramod Hegde, SB Shetty, K Raghu, Rishabh Upadhyay, Subhas Patil, and others were present on the occasion.
Time of India
4 days ago
- Business
- Time of India
FTA with UK to benefit thousands of chartered accountants, firms: ICAI president
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The India-UK free trade agreement is expected to significantly boost the flow of high-value professional services work into India, benefiting thousands of chartered accountant firms and professionals, Institute of Chartered Accountants of India ( ICAI ) president Charanjot Singh Nanda said on Friday.'By actively engaging with the commerce and industry ministry, the ICAI ensured liberal market access and the inclusion of a reciprocity clause protecting the use of the 'chartered accountant' title,' Nanda would benefit from the FTA due to its cost advantage, skilled workforce, and reputation, he has pledged to open 108 sub-sectors of services, including accounting, environmental services and auxiliary financial services, to UK firms under the trade deal signed on Thursday. In return, London will grant Indian companies access to 137 sub-sectors covering nearly all of New Delhi's current services said the ICAI also rooted for mutual recognition of qualifications, enabling Indian chartered accountants to register and practice in the UK on a reciprocity ICAI, through its Council, had provided technical inputs on licensing, qualification recognition, and digitally delivered services, leading to the formal inclusion of cross-border supply under the so-called Mode 1 services, Nanda said. 'This opens significant outsourcing opportunities in areas such as bookkeeping, tax and consulting,' he the ICAI had facilitated provisions for commercial presence under Mode 3 services, which will enable Indian firms to register and operate in the UK without discriminatory restrictions while restoring the principle of reciprocity, Nanda said.
Time of India
4 days ago
- Business
- Time of India
India-UK FTA will provide liberal market access for Indian accountancy professionals: ICAI
The India-UK Free Trade Agreement will provide liberal market access for Indian accountancy professionals as well as help in significantly expanding the volume of high-value professional services work flowing into India, chartered accoutants' apex body ICAI said on Friday. The Institute of Chartered Accountants of India (ICAI) said it played a pivotal role in securing favourable provisions for Indian professionals in the FTA. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Cybersecurity Data Science CXO Operations Management Management Artificial Intelligence Others Product Management Leadership Design Thinking healthcare MCA MBA Degree Project Management Data Analytics Digital Marketing Data Science Technology Public Policy others PGDM Healthcare Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details ICAI President Charanjot Singh Nanda told PTI that the institute actively engaged with the commerce and industry ministry to ensure "liberal market access and the inclusion of a reciprocity clause protecting the use of the 'Chartered Accountant' title". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Finland & Norway Citizens: Apply for U.S. Citizenship americ24 Apply Now The institute provided technical inputs on licensing, qualification recognition, and digitally delivered services, leading to the formal inclusion of cross-border supply in the FTA. "This opens significant outsourcing opportunities in areas such as book keeping, tax and consulting," he said and added that the institute also advocated for mutual recognition of qualifications, enabling Indian chartered accountants to register and practice in the UK on a reciprocity basis. Live Events "ICAI facilitated provisions for commercial presence, enabling Indian firms to incorporate and operate in the UK with national treatment and without discriminatory restrictions while restoring the principle of reciprocity," Nanda said. Given India's cost advantage, skilled workforce, and trusted reputation, Nanda said the FTA is expected to significantly expand the volume of high-value professional services work flowing into India, benefiting thousands of chartered accountant firms and professionals. ICAI has more than 4.35 lakh members.
