The Institute of Chartered Accountants of India ( ICAI ) has witnessed an impressive placement record with over 9,000 newly qualified Chartered Accountants ( CAs ) securing jobs, boasting an average annual package of Rs. 12.5 lakhs. The announcement was made by the newly elected President of ICAI, CA. Ranjeet Kumar Agarwal, during a press conference held in New Delhi.
President Agarwal unveiled his ambitious vision for the institute through the initiative named “DRISHTI,” meaning ‘vision.’ This strategic plan aims to lead ICAI into the realms of Digitalization (D), Research (R), Integrity (I), Skills (S), Handholding (H), Transparency (T), and Independence (I). He expressed confidence that the CA profession, rooted in ethics, integrity, and independence, will propel India towards becoming a global economic powerhouse by 2047.
For the first time in its history, ICAI has established a committee dedicated to exploring the application of Artificial Intelligence ( AI ) in various facets of professional development for students, members, and employees. The institute has also taken significant steps to enhance the learning experience for students by providing digitized and recorded tools across the country.
CA. Ranjeet Kumar Agarwal, alongside CA. Charanjot Singh Nanda, assumed the positions of President and Vice-President of ICAI, effective from February 12, 2024. ICAI, with over 4 lakh members and 8.5 lakh students, stands as the world’s largest accounting body. The institute, through its extensive network of Regional Councils, Branches, Overseas Chapters, and Representative Offices, is dedicated to promoting inclusive growth and upholding the prestige of the accounting profession.
During the media interaction, President Agarwal stated, “With ‘Drishti,’ we embark on a journey to make 2024-2049 the Golden Period of the Profession.” He outlined how the framework not only guides the institute but also lays the foundation for recommending standards and guidelines for green finance and audits to the government. Emphasizing a focus on digitalization and the incorporation of AI, he envisions preparing a generation of professionals who are both technologically adept and ethically grounded, contributing to a socially responsible future.
President ICAI underscored the empowering role of the CA Course in the country, highlighting the success of the New Scheme of Education and Training launched on July 1, 2023. With a staggering 1,29,120 registrations in the new curriculum, ICAI is witnessing a surge in students joining the profession. President Agarwal further shared insights into the on-campus placements, revealing that in the fiscal year 2023-24, more than 9,000 Newly Qualified CAs secured positions, each with an impressive average salary of Rs. 12.5 lakhs per annum. He added, “Ethics and technology domains have been embedded in the curriculum to equip aspiring CAs with the competencies required in this dynamic global world.”
Highlighting ICAI’s pioneering efforts, President Agarwal revealed the institute’s role in formulating Standards on Sustainability Reporting and shaping the Environmental, Social, and Governance ( ESG ) reporting landscape in the country. He reaffirmed that ICAI remains committed to developing guidelines and recommending standards to further support and enhance green finance in the coming year.
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