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New President Action Plan 2014-15.
February, 12th 2014
 A c t i o n      P l a n        2 0 1 4 - 1 5

Moving Towards New Frontiers

   The Institute of Chartered Accountants of India
             (Set up by an Act of Parliament)
      Action Plan - 2014-15
      The Institute of Chartered Accountants of India

The Institute of Chartered
Accountants of India

         The Institute of Chartered Accountants of India (ICAI) is a statutory body established
         under the Chartered Accountants Act, 1949 for the regulation of the profession of
         Chartered Accountants in India. The ICAI has achieved recognition as the premier
         Accounting body in India and second largest accounting body in the world.

                  ICAI aims at harnessing the opportunities and addressing the challenges
                  presented by the rapidly changing environment so that by 2030, ICAI
                  becomes: World's leading accounting body, a regulator and developer of
                  trusted and independent professionals with world class competencies in
                  accounting, assurance, taxation, finance and business advisory services.

 Action Plan 2014-15

 CA. K. Raghu
 President, ICAI

  Moving Towards New Frontiers
      We will move towards new frontiers through securing better professional opportunities
      and avenues for our members in practice and industry, and empowering them with
      cutting-edge technology that will enable us to create a formidable and robust future
      for the profession. Empowerment of women members and attending to the need of
      generation next accountants will be one of our primary concerns.

      Promoting transparency and ethics will be our constant enterprise and we shall continue
      playing critical role in the core domain of Standard Setting, Financial Reporting,
      Auditing, Corporate Governance and alike. We will adopt global best practices for the
      examination and education standards and thoroughly strive to increase the quotient of
      trust and transparency in our profession.

Areas of Strategic Focus
                                                                  1.    Leadership and Influence
                                       Areas of Strategic Focus

                                                                  2.    Global Recognition
                                                                  3.    Members in Industry
                                                                  4.    Members in Practice
                                                                  5.    Women Empowerment
                                                                  6.    Young Members Empowerment
                                                                  7.    Students Initiatives
                                                                  8.    Technology Initiatives
                                                                  9.    Infrastructure and Governance
                                                                  10.   Branding and Capacity Building
                                                                  11.   Member Support and Benefits
                                                                  12.   Research Initiatives

          Action Plan - 2014-15
          The Institute of Chartered Accountants of India

Areas of Strategic Focus:

      Leadership and

                            »    Playing a greater role in nation-building and public participation.
                            »    Propelling the profession's interest by gaining public confidence.
                            »    Supporting the government in effective implementation of the Companies
                                 Act, 2013.
                            »    Forming a politically neutral group to promote a dialogue between the
                                 Parliament, business and accountancy profession on issues of economic
                            »    Collaborating with institutions of national importance to formulate successful
                                 strategies for various projects launched by the government.
      »      Coordinating effectively with the government departments, central and state PSUs for
             compulsory adoption of double entry system of accounting.
      »      Collaborating with global standards setters and regulators for positioning the ICAI in more
             proactive role in international standards-setting process.
      »      Leading the initiative to communicate the benefits of IFRS convergence in a holistic manner
             and building a nationwide commitment and consensus among key stakeholders.
      »      Upholding the disciplined and ethical professional conduct.
      »      Making the Peer Review and Quality Review processes more effective to encourage the
             members to demonstrate the highest standard of ethics.
      »      Strengthening the regulatory regime so as to uphold the fundamental edifice for which the
             Institution has been set up.

      »      Promoting the ICAI's qualification abroad by reciprocal recognition through potentially
             important accountancy jurisdictions.
      »      Developing interface and communication channels with multilateral forums including
             global standard-setters for twinning arrangements on technical cooperation, standard-
             setting and rechannelling thought leadership to reflect the Indian perspective.

                               »    Strengthening the existing foreign chapters and opening up
                                    new chapters of ICAI in the countries of strategic importance to
                               »    Promoting opportunities abroad for the benefit of membership.
                               »    Promoting training for accountancy professionals in the
                                    developing and underdeveloped economies.
                               »    Extending technical cooperation to emerging and least-
                                    developed economies, with a focus on Middle East and African
                               »    Playing a proactive role at global forums like IFAC/ SAFA/
                                    CAPA / IIN to espouse special and differential needs of Indian
                               »     Promoting knowledge management by association with
                                    the relevant international organizations in emerging and
                                    niche areas and paving way for augmenting and facilitating
                                    multilateral networking, B2B and B2C by building a resource
                                    framework through intra country resource sharing.
                               »    Providing technical support constantly to accountancy bodies in
                                    the SAARC region.
                               »    Promoting the ICAI qualification among the overseas citizens of
                               »    Strengthening interface between the Institute and the members
                                    abroad in order to provide more and better services to them
                                    and take their inputs for external reach of the Indian accounting

in industrY
»   Creating a full-fledged Placement Cell to provide
    continuous career development of members in industry
    seeking employment.
»   Institutionalizing interface with members-in-Industry in
    standard-setting process.
»   Organizing programmes on contemporary topics
    on a regular basis for the senior officials of PSUs,
    multinational companies.
»   Collaborating with the reputed Institutions to promote
    research among the working executives.

        Action Plan - 2014-15
        The Institute of Chartered Accountants of India

    »      Undertaking steps to enhance participation of companies in Campus Placement.
    »      Organising special training programs to facilitate members to switch over from employment
           to practice.
    »      Opening more CPE study circles for members-in-industry.
    » Organizing nationwide outreach programmes in industries and webinars and e-learning
      courses for members-in-industry.
    »      Exploring tie-ups with reputed institutions for executive development programmes to develop
           managerial skills for senior positions.
    »      Taking steps to enhance employment opportunities for Chartered Accountants in Government
           Departments and PSUs.

    Members in
                                                 »        Introducing new certificate courses to equip our
                                                          members to venture into new and emerging areas of
                                                 »        Identifying and addressing the new facets of audit
                                                          emerging from the Companies Act, 2013 ­ internal
                                                          control framework, risk management, fraud
                                                          detection, internal audit and rotation of audit.
                                                 »        Studying the global best practices to align the ICAI
                                                          practices as per the emerging imperatives.
                                                 »        Setting up a special cell to promote mergers and
                                                          networking with the Indian and international
                                                          accounting firms in terms of Networking Guidelines.
                                                 »        Identify countries with significant opportunities for
                                                          the ICAI members to provide professional services
                                                          and developing opportunity assessment report of
                                                          these countries for creating awareness amongst the
                                                 »        Organising special training for the members
                                                          encompassing international rules, regulations and
                                                          practices followed in jurisdictions of special interest.
                                                 »        Developing SMP kit including practice manual for
                                                          audit compliance.
                                                 »        Promoting development of IT-based tools for
                                                          managing the professional practice.

»   Organising specialised training programmes for women members to prepare them for the role
    of women directors in companies.
                                          »     Creating a panel of women members to act as
                                                independent directors in companies.
                                          »     Promoting flexi working hours for women members
                                                through a dedicated women portal.
                                          »     Launching leadership programmes for women in
    Women          Empowerment
                                                finance and business.
                                          »     Introducing ICAI Women Achiever's Award to
                                                acknowledge and honour the accomplishments and
                                                contributions by women members.

Young Members
»   Introducing ICAI Youngest CFO Award.
»   Undertaking initiatives to assist young professionals in setting up
    new firms.
»   Introducing mentorship programmes for hand-holding the young
»   Enabling members engagement with the ICAI via digital media.
»   Facilitating outsourcing opportunities in accounting, auditing,
    management consultancy services and alike.

»   Introducing course curriculum and examination system dedicated more towards analytical
    reasoning and qualitative assessment.
»   Creating sustainability and perpetuity in the examination evaluation process.

        Action Plan - 2014-15
        The Institute of Chartered Accountants of India

                                                »     Launching Articleship Training Portal- One Stop
                                                      Solution for all training requirements.
                                                »     Reviewing the course curriculum to meet the changing
                                                      needs of society.
                                                »     Making training framework more focused on practical
                                                »     Reviewing training entitlement of members and
                                                      considering whether it should be based on the efflux
                                                      of time or quantum of work.
    »     Organizing capacity-building programmes for firms to impart articleship training to provide
          guidance in methodology and mechanism to make the training more effective.
    »     Increasing the number of examination centres.
    »     Making examinations more practical with more case studies and practical problems.
    »     Introducing Cloud Campus a next generation interactive learning management system for
    »     Conducting student exchange programmes to share knowledge with the international
    »     Introducing e-diary for students.
    »     Introducing soft skill courses as part of e-learning.
    »     Setting up a single window system for enquiry, availability of application forms and
          confirmation on application status.
    »     Making provision for online submission of application forms for students.

    »     Setting up ICAI Global Technology Centre.
    »     Establishing ICAI Knowledge Gateway with specialized knowledge under one roof.
    »     Introducing advanced ITT hi-tech labs to provide training to our students.
    »     Engaging members via social media.
    »     Providing service interface through the Mobile-App of ICAI.
    »     Making website more interactive and user-friendly.
    »     Launching Online Store of ICAI.
    »     Converting ICAI publications into e-books.
    »     Expanding web-enabled services for regulatory and other requirements.

and GoVernance
                                                »     Building an organizational structure that will
                                                      embrace and drive challenges and results
                                                      across levels.
                                                »     Implementing good corporate governance in
                                                      the Institute's affairs to meet the expectation
                                                      gap of varied stakeholders.
                                                »     Implementing the best HR practices to
                                                      attract and retain capable, passionate and
                                                      committed employees.
»   Developing a succession plan for key management roles.
»   Opening 100 reading rooms and e-libraries across the nation to provide better infrastructure
    facilities to our students.
»   Expanding infrastructure to provide improved services to members and students by opening
    new centres of excellence and branch buildings.

brandinG and
capacitY - buiLdinG
»   Driving the campaign of global Indian Chartered
    Accountant brand by highlighting the vital role
    that Chartered Accountants play in the global
»   Promoting core strengths and the values, which
    the profession provides to the industry and
    nation's economy in national and international
    brand-building initiatives.

»   Launching welcome kits to facilitate members to leverage Global Opportunities.
»   Augmenting the ICAI profile and Indian accountancy profession at forums and platforms of
    international accountancy institutions.
»   Launching focused CPD programmes for specific knowledge-domains, specific demographic
    segments and meeting the aims and aspirations of those in employment/ practice on a
    standalone basis.

      Action Plan - 2014-15
      The Institute of Chartered Accountants of India

     MeMber support
     and benefits
                                                        »        Introducing Member Benefits, a privilege
                                                                 program to provide easy access to special
                                                                 products and services.
                                                        »        Making online provision for member
Member                Support                                    support services.
                                                        »        Launching national help-line for guidance
                                                                 and assistance to the members.
                                                        »        Upgrading the Grievance Management

          research initiatiVes
          »     Working with leading universities and
                institutions to encourage doctorate
                programmes in accounting, assurance,
                taxation, finance and business management
                among the ICAI members.
          »     Encouraging research by appointment of
                full-time researchers in the area of taxation,
                finance and other allied areas of business
          »     Bringing out sector-specific research
                publications to provide better insight into the
                complex issues faced by the businesses today.

   Head Office :                                        Eastern Region
   The Institute of Chartered Accountants of India      ICAI Bhawan, 7, Anandilal Poddar Sarani,
   ICAI Bhawan, Post Box No. 7100, Indraprastha Marg,   Russell Street, KOLKATA ­ 700 071
   NEW DELHI ­ 110 002                                  Tel: (033) 39893989
   Tel: (011) 39893989                                  Email:
   Email:                                Website:

   ICAI Bhawan, C-1, Sector 1,                          Central Region
   NOIDA - 201 301, Dist. Gautam Budh Nagar, (U.P       ICAI Bhawan, 16/77-B, Civil Lines,
   Tel: (120) 3989398                                   KANPUR ­ 208 001
                                                        Tel: (0512) 3989398
   ICAI Bhawan, A-29, Sector 62                         Email:
   NOIDA - 201 309, Dist. Gautam Budh Nagar, (U.P       Website:
   Tel: (120) 3045900
                                                        Northern Region
   Western Region                                       ICAI Bhawan, 52, 53 & 54, Institutional Area,
   ICAI Tower, Plot No C-40, G Block                    Vishwas Nagar, Shahdara,
   Bandra Kurla Complex, Bandra (East)                  DELHI ­ 110 032
   Mumbai - 400 051                                     Tel: (011) 39893990
   Tel: (022) 33671400/33671500                         Email:
   Email:                                   Website:

   Southern Region
   ICAI Bhawan, 122, Mahatma Gandhi Road, Post Box
   No. 3314 Nungambakkam, CHENNAI ­ 600 034
   Tel: (044) 30210356

       The Institute of Chartered Accountants of India
             (Set up by an Act of Parliament)
Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002
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