The Institute of Chartered Accountants of India (ICAI), has released Digital Competency Maturity Model (DCMM) for Professional Accounting Firms to enable the members/firms to assess the current digital competence of their firms and building their firms competencies for their own growth and the profession at large.
A Digital Accounting and Assurance Board (DAAB) have been appointed by the ICAI as an enabling Board to proactively assess the impact of digitization on accounting and audit.
“The objective is that the accounting firms, irrespective of the size, assess the current level of Digital Competency and identify steps to move up the model and calibrate their functioning to the emerging context. We recommended that each firm should develop a strategy as part of its Annual Operating Plan to move up the DCMM.”
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