sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
  Exposure Draft of Standard on Internal Audit (SIA), Planning the Internal Audit Assignment (Comments to be received by June 15, 2018)
 Four Weeks Residential Programme to be held from 4th June, 2018 to 1st July, 2018 at Centre of Excellence, Jaipur for Men Participants only.
 Inputs/ Suggestions Invited on Draft Revised Syllabus for the Post Qualification Course on Information Systems Audit formulated by Digital Accounting and Assurance Board of ICAI latest by 31st May, 2018.
 Exposure Draft of Accounting Standard (AS) 109, Financial Instruments (Comments to be received by June 30, 2018)
 Register for Exclusive First Batch of Spanish Language (60 Hours) for ICAI Members and Students at Delhi and Mumbai - 4th June 2018 - Last Date of Enrolment is 21st May 2018
 FAQ on accounting treatment of increase in liability due to enhancement of the gratuity ceiling.
 SAFA accepts recommendation of the ICAI for forming SAFA Women Empowerment Committee and replicating the digital initiatives of ICAI.
 CPE Events 14th May - 19th May 2018
 Four Weeks Residential Programme to be held from 28th May, 2018 to 24th June, 2018 at Centre of Excellence, Hyderabad for Women Participants only.
 Regarding omission of Rule 9 of Chapter X (Audit and Auditors) of the Companies Act 2013 pertaining to Section 147 (5) (Punishment for Contravention) of the Companies Act 2013
 Be an expert on the panel of Women Entrepreneurship Platform (WEP) of NITI Aayog

ICAI - Press Conference organized by the Institute
May, 19th 2010

Press Conference organized by the Institute during the visit of delegation from International Federation of Accountants (IFAC) to India.


The Institute of Chartered Accountants of India (ICAI) today organized a Press Conference at ICAI Bhawan, Indraparastha Marg, New Delhi. It was addressed by Mr Robert Bunting, President, International Federation of Accountants (IFAC),Mr Ian Ball, Chief Executive Officer, IFAC and Mr Matthew Bohun, Technical Manager, Governance and Operations.From the institute CA.Amarjit Chopra, President, ICAI, CA.G.Ramaswamy, Vice President, ICAI and Shri T.Karthikeyan, Secretary, ICAI were present.
Addressing the media CA. Amarjit Chopra, President ICAI briefed that ICAI has bid for hosting the 19th World Congress of Accountants(WCOA), also called the Olympics of the Worlds Accountants, in the year 2014 in Hyderabad, India. He stated that the prime objective of the visit of IFAC delegation was to assess the proposal of ICAI for hosting WCOA. He stated that IFAC delegation was deeply impressed with the facilities available at Hyderabad and had also met Honble Governor of Andhra Pradesh, Chief Secretary and Home Secretary, Govt. of Andhra Pradesh in this regard. The President was hopeful that ICAI would get a chance to host WCOA in 2014 which would be decided by IFAC after evaluation of proposals received from other member bodies.
The World Congress is organized every 4 years to deliberate on contemporary issues in the world of accountancy and witnesses participation of approximately 5000 national and international delegates. It is organized under the aegis of the International Federation of Accountants (IFAC), the global organization for the accountancy profession representing 2.5 million accountants across 163 member organizations spread over 124 countries.
Answering to the media queries Mr Robert Bunting, President,IFAC explained about the role of IFAC in the development of accountancy profession worldwide. He said that IFAC is committed to protect the public interest by developing high-quality international standards, promoting strong ethical values, encouraging quality practices, and supporting the development of all sectors of the profession around the world.
Speaking on the issue of recent global financial crisis, Mr. Bunting said that financial reporting and fair valuation does not lead to financial crisis but on the contrary only helps in exposing the flaws. He also said that for further improvement in the financial reporting ,IFAC is re working on the existing standards .
Mr. Ian Ball, Chief Executive Officer, IFAC said that the IFAC is working for more than a decade now towards improvement in financial reporting in both public as well private sector. He stated that one of the main priorities of IFAC is improvement in financial reporting and bringing transparency in governmental sector. He said that efforts are being made for the adoption of International Public Sector Accounting Standards by the governments globally.
CA. Amarjit Chopra said that the Government of India is aiming towards greater transparency as various government departments are moving towards Accrual system of Accounting from the Cash System .This also shows the commitment of Indian Government on this front. He said that ICAI is helping the government in achieving this.
Brief background of IFAC

The functions of the IFAC include the development and promulgation of International Standards on Auditing and Assurance, Ethics, Public Sector Financial Reporting and Accounting Education. With regard to International Accounting Standards (IASs)/International Financial Reporting Standards (IFRSs), IFAC mandates its member bodies, through enforcement of Membership Obligations, to support the work of the International Accounting Standards Board (IASB) by bringing them to the notice of their members and using best endeavours to encourage the compliance of and foster acceptance and observance of International Accounting Standards (IASs)/International Financial Reporting Standards (IFRSs).
ICAI contribution to IFAC
ICAI is a founder member of IFAC and has continued to assist IFAC in the attainment of its mission to strengthen the profession of accountancy globally through immense contribution in the activities of its Board, committees and Permanent Task Forces.

ICAI has been associated with the activities of the IFAC in the area of the consideration of the issues concerning small and medium sized firms and businesses and contributed largely by presenting their perspective and guiding the role of IFAC and its other member bodies in addressing such matters and rendering strength to the cause of small and medium sized practitioners and businesses
Objectives of World Congress of Accountants

To promote awareness and contribute to the achievement of IFACs mission and to serve the public interest,

To create awareness of and contribute to the implementation of IFACs strategy, including that IFAC:

 Be recognized as the international standard setter in areas of auditing and assurance, education, ethics and  
 governmental financial reporting.

 Actively support the adoption and assist in the implementation of international standards.

 Continually enhance the relevance of the profession.
 Be an influential voice for the global accountancy profession.

To provide a unique opportunity for professional accountants to fulfill their CPD requirements by attending plenary sessions and workshops on a variety of current topics.

To provide an opportunity for professional accountants to meet and interact with colleagues from a diverse range of cultural and professional backgrounds.

To provide an opportunity for professional accountants to visit a different culture and to experience its richness.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions