ICAI to Launch Affordable Compliance Support Course for Small Accounting Firms
In February, ICAI issued guidelines for setting up networks, enabling domestic accounting firms to partner with global counterparts.
The Institute of Chartered Accountants of India (ICAI) is preparing to roll out a new modular accounting course aimed at creating a cadre of para‑professionals to deliver cost‑effective compliance support to small businesses, particularly in tier‑2 and tier‑3 towns.
The initiative, announced by Finance Minister Nirmala Sitharaman in her Union Budget speech earlier this year, is expected to be ready for launch by July 1, celebrated annually as Chartered Accountants Day.
ICAI’s newly elected president, Prasanna Kumar D., confirmed that a 21‑member committee comprising council members and external experts is designing the curriculum in consultation with the Ministry of Corporate Affairs and the Ministry of Micro,Small, and Medium Enterprises (MSMEs).
The proposed cadre, referred to as “corporate mitras,” will be trained to provide affordable advisory services, return filing assistance, and documentation support to small firms that often struggle with the complexity of compliance requirements.
Nirmala Sitharaman stated that such accredited para‑professionals would help bridge the compliance gap in non‑metro regions, enabling small enterprises to meet regulatory obligations without incurring prohibitive costs.
The course’s curriculum, duration, and eligibility criteria are still being finalized. The President stated that the program would also create significant employment opportunities for candidates, expanding the professional ecosystem beyond chartered accountants.
Parallel to this initiative, ICAI is enhancing its research capabilities by hiring lawyers, MBAs, and chartered accountants to support central and state governments in simplifying laws. A pilot project is already underway in Andhra Pradesh, focusing on easing registration and professional tax processes.
Observers caution that for the scheme to have a lasting impact, broader reforms are needed to simplify compliance frameworks across tax and regulatory laws. Threshold‑based exemptions and presumptive schemes could further reduce the compliance burden for genuinely small businesses.
If successfully implemented, the corporate mitra framework could mark a valuable step toward democratizing compliance support, empowering MSMEs, and strengthening India’s formal economy
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