Vice-President Calls for Stronger Examination Standards as ICAI Marks 78th Foundation Day
By Suman Munshi | IBG NEWS
New Delhi, July 2: The Institute of Chartered Accountants of India (ICAI) celebrated its 78th Chartered Accountants Day with a grand function at Vigyan Bhawan, New Delhi, where Vice-President of India Shri C. P. Radhakrishnan urged the Institute to continue upholding its rigorous and transparent examination standards while reinforcing the profession’s role in nation-building.
The celebrations were attended by CA. Prasanna Kumar D, President, ICAI, CA. Mangesh Kinare, Vice-President, ICAI, Central and Regional Council Members, CA. (Dr.) Jai Kumar Batra, Secretary, ICAI, and several Past Presidents of the Institute.
Addressing the gathering as the Chief Guest, the Vice-President praised Chartered Accountants for their significant contribution to India’s economic transformation. He highlighted the profession’s role in implementing landmark reforms such as the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), Direct Benefit Transfer (DBT) initiatives and taxation reforms, stating that Chartered Accountants have strengthened transparency, improved compliance and enhanced investor confidence across sectors.
Calling Chartered Accountants the “Ambassadors of Trust,” Shri Radhakrishnan said the profession occupies a pivotal position in India’s journey towards becoming a developed nation. He stressed that ethical governance, accountability and transparency remain the cornerstones of India’s economic and institutional progress and urged ICAI to preserve its stringent examination and professional standards that have earned the Institute global recognition.
On the occasion, the Vice-President launched the ICAI Jan Utsav Portal, developed in collaboration with MyGov, Government of India. The digital platform aims to encourage greater citizen participation while creating awareness about the contribution of Chartered Accountants to India’s economic development and nation-building efforts.
Delivering the Presidential Address, CA. Prasanna Kumar D, President of ICAI, described Chartered Accountants as trusted nation-builders committed to excellence, independence and integrity.
He said the Institute continues to focus on world-class education, audit quality, continuous professional development and future-ready initiatives to prepare professionals capable of contributing to the vision of Viksit Bharat 2047. He added that the designation “CA” represents not merely a professional qualification but also a lifelong commitment to serving society with ethics and responsibility.
CA. Mangesh Kinare, Vice-President, ICAI, emphasized that the profession plays a vital role in strengthening financial discipline, corporate governance and investor confidence. He said Chartered Accountants must embrace emerging technologies while safeguarding the integrity, independence and professional values that define the profession.
A major highlight of the celebration was the release of the 75th Edition of “The Chartered Accountant” Journal, marking another milestone in ICAI’s distinguished institutional journey.
ICAI also unveiled a new Peer Review Web Portal through its Peer Review Board. The fully digitised platform automates the entire peer review process—from application submission and reviewer allocation to report submission and certificate generation—making the compliance mechanism more transparent, efficient and user-friendly.
The event also featured technical sessions on Capital Markets and Investments, addressed by investment experts CA. Nilesh Shah and CA. Sunil Singhania, while noted tax expert CA. (Dr.) Girish Ahuja delivered a session on the Income-tax Act, 2025.
As part of the nationwide Chartered Accountants Day celebrations, ICAI organised knowledge seminars, blood donation camps, tree plantation drives and several social outreach programmes across the country.
Established under the Chartered Accountants Act, 1949, ICAI functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With more than 1.5 million members and students, the Institute is the world’s largest professional accountancy body. It operates through five Regional Councils and 186 branches across India, while maintaining an international presence through 54 Overseas Chapters and 31 Representative Offices spread across 85 cities in 47 countries.
The 78th Foundation Day celebrations reaffirmed ICAI’s commitment to maintaining global standards of professional excellence while strengthening its contribution to India’s economic growth, financial transparency and the vision of a developed India by 2047.
