The Institute of Chartered Accountants of India ( ICAI ) has always been playing an important role in positioning the Indian accounting profession prominently on all the International Accounting Forms and building up brand image internationally.
In a major achievement, ICAI represented by CA.S.B.Zaware, Chairman, Accounting Standards Board (ASB ) of ICAI has been appointed as Vice-Chair of Asian-Oceanic Standards-setters Group (AOSSG) from November 2017 for a period of two years. As per current convention, the Vice-Chair subsequently assumes Chairmanship for two years upon confirmation by members.
The Chair and Vice-Chair of AOSSG are supported by a Chair’s Advisory Committee comprising 8 member jurisdictions and by Working Groups devoted to particular technical topics. ICAI considers this appointment as matter of pride and recognition of its continuous efforts and an opportunity to play a leadership role in the global forums.
The Asian-Oceanian Standard-Setters Group (AOSSG) is a group of the accounting standard-setters in the Asian-Oceanian region established in November, 2009. ICAI is a founder member of AOSSG. Currently, AOSSG has 26 members and it represents the region in the Accounting Standards Advisory Forum of IFRS Foundation.
AOSSG has been formed to discuss issues and share experiences on the adoption of International Financial Reporting Standards (IFRS) and contribute to the development of high-quality set of global accounting standards.
The Institute of Chartered Accountants of India(ICAI) is a statutory body established by an Act of Parliament viz., The Chartered Accountants Act, 1949 in the year 1949 for regulating the profession of Chartered Accountants in the country. ICAI is the second largest accounting body in the world. During its more than sixty eight years of existence, the ICAI has achieved recognition as a premier accounting body in the country for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.