The Institute of Chartered Accountants of India (ICAI), India’s premier & world second largest accounting body, celebrated its 65th Foundation Day today. A function was organized at Vigyan Bhawan, New Delhi on July 1, 2013.

 Union Minister of State(I/C), Shri Sachin Pilot was the Chief Guest. A special address was delivered by Dr.C.Rangarajan, Chairman, Economic Advisory Council to the Prime Minister.

At the outset Shri T.Karthikeyan, Secretary, ICAI welcomed all the dignitaries, the members of the profession and esteemed guests.

While addressing the gathering Shri Karthikeyan said “Today, ICAI has over 2 lakh members & more than 11 lakh students and is well on its way to set newer benchmarks while taking accountancy beyond professional footprints.”

In his Presidential address, CA.Subodh Kumar Agrawal, President, ICAI welcomed the dignitaries and distinguished gathering. The President on behalf of the Council and the entire fraternity said “The ICAI since its inception has grown in size and stature by leaps and bounds. The phenomenal growth in the membership base is a reflection of the confidence and trust which the industry and public at large has in this glorious profession and it is that trust which motivates more and more people to be a part of this wonderful family.” 

The President added “Role of the accounting profession in evolving and lending credibility to financial systems has been very critical, and, so recognized worldwide. ICAI firmly believes that having a strong accounting profession is a key to having a strong financial infrastructure in a country and it directly reflects the ability of the country and of individual companies.” 

Union Minister of State for Corporate Affairs (I/C), Shri Sachin Pilot said “The accounting profession has a long and distinguished history of guarding the integrity of company’s financial statements. They must live up to their history to remain inquisitive, sceptical and rigorous in their application of highest standards.”

Hon’ble Minister further added “The accounting profession is concerned with adding value to economies and in particular creating an investment climate of trust. The profession has moved much beyond merely performing an accountants role to the corporate and is contributing to the Government and various regulators in its committees, be it the capital markets, the reforms in the government accounting or issues of emerging paradigm and is truly adding value to the process of economic and social development in country.”

Dr.C.Rangarajan, Chairman, Economic Advisory Council to the Prime Minister delivered a special address on the topic “Indian Economy-Current Concerns & Future Prospects.” Dr.Rangarajan said “Success of the economy depends on the optimum utilization of resources. Chartered Accountants play critical role in the effective functioning of the economy. Today the accounting profession is playing a direct and more pro-active role in formulation of economic policies and guiding implementation thereof.”

While delivering the Vote of thanks, CA.K.Raghu, Vice-President, ICAI thanked the dignitaries and the distinguished gathering. 

The Vice President said “On this occasion of CA Day, we reiterate to uphold the pride of this noble profession and are well poised to take on the challenges of the future. The profession of Accountancy is all set to scale new heights by demonstrating values and attributes which are synonymous with CA profession.” 

Vice-President also added “I am sure that the members of Chartered Accountant community would strive further as they have always done in the past, to uphold the virtues of excellence, independence and integrity which have become the hall mark of Indian CA profession and thus become the true ambassadors and real partners in the socio economic development of the country by espousing the concerns of various sections of society.”