Council of the ICAI has elected its new Torchbearers, for the year 2023-24, i.e. CA Aniket Sunil Talati as President and CA Ranjeet Kumar Agarwal as Vice-President. We would like to offer our congratulations to the newly formed ICAI Team and best wishes for the coming year.
The Institute of Chartered Accountants of India (ICAI), founded by an Act of Parliament in 1949, has established itself as a world-class institution dedicated to upholding the values of transparency, accountability, and integrity. ICAI is the world’s second largest accounting body, with over 3.60 lakh members and over 7.80 lakh students. The ICAI is advancing its agenda of inclusive growth and adding glory to the CA profession through its 5 Regional Councils, 167 Branches, 44 Overseas Chapters, and 34 Representative Offices.
A Council manages the ICAI’s affairs in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council is made up of 40 members, 32 of whom are elected by the Chartered Accountants and the remaining 8 members are nominated by the Central Government on behalf of the Comptroller and Auditor General of India, the Ministry of Corporate Affairs, the Ministry of Finance, the Securities and Exchange Board of India, and other stakeholders.
Brief Profile of CA Aniket Sunil Talati, President, ICAI (2023-24)
CA Aniket Sunil Talati, a man with a refined thought-process, quick understanding, and sharp vision, was elected President of the Institute of Chartered Accountants of India for the term 2023-24. He will serve in this role until the end of the term in 2024. CA Aniket Sunil Talati has made significant contributions to the advancement of the profession from a number of different professional vantage points. He is highly regarded for his superior organisational abilities as well as his profound understanding of professional matters.
In addition to being a member of a variety of other ICAI Committees, Boards, and Directorates, he is the Director of the ICAI Accounting Research Foundation (ICAI ARF), the Indian Institute of Insolvency Professionals of ICAI (IIIPI), and the Extensible Business Reporting Language (XBRL) India. He also serves as the Director of the ICAI Accounting Research Foundation (ICAI ARF). As evidenced by the numerous digital initiatives that have been launched under CA Aniket Sunil Talati’s leadership, he is at the forefront of the digital transformation that is taking place at ICAI. CA Aniket Sunil Talati is a member of the IFAC Board of Directors in addition to his role as Technical Advisor to the ICAI’s Nominee on the IFAC PAIB Advisory Group. The International Federation of Accountants (IFAC) is the organisation that caters to the needs of accountants all over the world. Since its founding in 1977, the International Federation of Accountants’ Committees (IFAC) has grown to include more than 175 members and associates located in over 130 countries and jurisdictions. These individuals collectively represent more than 3 million accountants working in public practise, education, government service, industry, and commerce. In addition to that, he has been given a seat on the SAFA Board of Directors (South Asian Federation of Accountants).
CA Aniket Sunil Talati is a man who has a profound understanding of the issues and is well-liked by his professional colleagues for his down-to-earth approach to the issues at hand. In addition, CA Aniket Sunil Talati has a deep understanding of the issues. He is remarkable in his capacity to handle a diverse range of challenging circumstances.
Because of his exceptional ability to bring a variety of alternative solutions to the table in any given circumstance, he was able to successfully disband a large number of taskforces as well as time-bound non-standing groups and teams. CA Aniket Sunil Talati is well-versed in the professional concerns and demands of his time as a result of the fact that he has penned pertinent books, articles, and other such works.
CA Aniket Sunil Talati received his Bachelor of Commerce degree from Mumbai University and was a Rank holder after completing his studies at Gujarat University. After that, he went on to earn his Master of Commerce degree. He has been an advocate for the industry by serving on multiple committees that are part of the ICAI’s Branch and Regional Councils. He served as the Chairman of the Ahmedabad Branch of the ICAI during 2014–15 and as the Secretary of the WIRC during 2017–18.
Brief Profile of CA Ranjeet Kumar Agarwal, Vice-President, ICAI (2023-24)
CA Ranjeet Kumar Agarwal is a thorough academician with a consistent pursuit of excellence, as well as a technically affluent professional who has made significant contributions to the profession’s cause. He has been a Chartered Accountant for the past 24 years. He is also a Company Secretary and an ICAI DISA. He was elected to the ICAI’s 23rd, 24th, and 25th Central Councils three times in a row.
As the Chairman of the ICAI Professional Development Committee, he is responsible for the implementation of Bank Branch Audit Software. He conceptualised and implemented UDIN, an ICAI landmark reform. He also served as the Convenor of the Group formed to implement the UDIN concept in all SAARC countries (Sri Lanka, Pakistan, Nepal, Bhutan, Bangladesh, Afghanistan & Maldives). As Chairman of the ICAI’s Ethical Standard Board in 2019, he was instrumental in bringing the revised Code of Ethics after a 10-year long break. He has also served as the Chairman of the ICAI’s Committee for Members in Industry and Business, as well as the Tax Audit Quality Review Board, where major process improvements were implemented.
CA Ranjeet Kumar Agarwal is a regular speaker on topics such as Code of Ethics, Professional Opportunities, and Student Motivation Sessions, and he is also involved in social organisations such as Lions Club, Barabazar Library, JCI, Friends of Tribal Societies, Awantika, and others.
ICAI’s Torchbearers for the year 2022-23
The Council had previously elected CA (Dr.) Debashis Mitra as President of the ICAI, and CA Aniket Sunil Talati as Vice-President of the ICAI, for the term 2022-23. Following the conclusion of their tenure, the aforementioned new team took over.
My heartfelt congratulations to the new torchbearers and best wishes for continued success and accomplishments during their tenure.