Srinagar: The Institute of Chartered Accountants of India (ICAI), the world’s second-largest professional body of Chartered Accountants, Saturday organized the 12th residential meet of its members in Srinagar.
Established in 1949 through an Act of Parliament, ICAI offered a 75 percent fee waiver for prospective students from J&K, who wish to register for the new course, scheduled to begin from July this year.
Addressing a press conference here on the 75th anniversary of ICAI, Ranjit Kumar, vice-president of the institute said that ICAI since its beginning has played a pivotal role in India’s economic growth.
“We have worked hard to organize this program in Srinagar and I am grateful to all members of the institute for choosing Srinagar for the 12th Residential Meet of ICAI Members. We have got the opportunity after 11 years to hold this meet in Srinagar. ICAI is not an association, it was established through a Parliament Act on July 1, 1949 and today we are celebrating the 75th anniversary of our institute,” he said.
He said the institute being the world’s second-largest professional body of chartered accountants, has five regional councils and 158 branches across India.
ICAI, Kumar said, is not limited to India only but has a major international presence as well with its branches in 80 international cities and 50 countries.
“CA profession is the major contributor, I think, in India’s growing economy. They serve clients as auditors and tax consultants. This year India assumed the G20 presidency and there are G20 boards installed everywhere in Kashmir. ICAI works as a prime partner in B20 to help take forward developmental works without disturbing the environment,” he added.
“J&K students who wish to enroll in CA courses will be given a 75 percent fee waiver. Our endeavor will be to make the course purely local. Students who get CA degrees will play a pivotal role in the economic growth of UT,” said Kumar.
