The Council of the ICAI has recently elected its new Torchbearers for the year 2023-24. CA Aniket Sunil Talati has been elected as the President of ICAI, while CA Ranjeet Kumar Agarwal has been elected as the Vice-President. This announcement has been made by the world’s second-largest accounting body, which has over 3.60 lakh members and over 7.80 lakh students.
Overview of ICAI
The Institute of Chartered Accountants of India (ICAI) was founded by an Act of Parliament in 1949, with a vision to uphold the values of transparency, accountability, and integrity. It has established itself as a world-class institution that aims to add glory to the CA profession through its 5 Regional Councils, 167 Branches, 44 Overseas Chapters, and 34 Representative Offices.
The Council manages the ICAI’s affairs in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. It comprises 40 members, with 32 members elected by the Chartered Accountants and the remaining 8 members 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.
CA Aniket Sunil Talati, President, ICAI (2023-24)
CA Aniket Sunil Talati, the newly elected President of the ICAI for the term 2023-24, is a man with a refined thought-process, quick understanding, and sharp vision. He has made significant contributions to the advancement of the profession from a number of different professional vantage points. In addition to being a member of a variety of other ICAI Committees, Boards, and Directorates, he is also 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.
CA Aniket Sunil Talati is a member of the IFAC Board of Directors, which is the organization that caters to the needs of accountants all over the world. He is also a Technical Advisor to the ICAI’s Nominee on the IFAC PAIB Advisory Group. 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.
CA Ranjeet Kumar Agarwal, Vice-President, ICAI (2023-24)
CA Ranjeet Kumar Agarwal, the newly elected Vice-President of the ICAI for the term 2023-24, 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 and is also a Company Secretary and an ICAI DISA.
As the Chairman of the ICAI Professional Development Committee, he is responsible for the implementation of Bank Branch Audit Software. He conceptualized 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 organizations such as Lions Club, Barabazar Library, JCI, Friends of Tribal Societies, Awantika, and others.
Previous Torchbearers for 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.
Conclusion
In conclusion, the ICAI has elected its new Torchbearers for the year 2023-24, and we congratulate CA Aniket Sunil Talati and CA Ranjeet Kumar Agarwal on their new positions. These newly elected officials will lead the ICAI in advancing its agenda of inclusive growth and upholding the values of transparency, accountability, and integrity. Their significant contributions to the profession, and their experience in various ICAI committees and boards, make them the ideal candidates to take on these important roles. The ICAI, with its vast network of regional councils, branches, and overseas chapters, is well-positioned to continue adding glory to the CA profession under the leadership of these newly elected Torchbearers.