ICAI - Formation of Directorate of Accounting Technicians
June, 12th 2009
The Executive Committee of the Institute of Chartered Accountants of India (ICAI) in its meeting held on 8th June 2009 has decided to approve formation of a Directorate of Accounting Technicians (ATs) within ICAI to provide singular and unified focus on the development of Accounting Technicians as an independent certification amongst all stake holders. The Directorate would work towards bringing the eligible candidates under the Accounting Technicians Umbrella and would provide for their regulation and development for the benefit of the industry. This certification program would immensely benefit the small & medium sized enterprises (SMEs) and all those who are looking for the rendering of specialized accounting services other than the audit and assurance function. The certification by a premier accounting body like ICAI would give the added stamp of authority to the holder of such Accounting Technicians certificates.
Worldwide the developed as well as developing economies have this demarcation already in place and the certified ranking ATC would proof very handy for corporate and others who while do not need the services of full fledged chartered accountants for some of the areas and for such niche components of their working, ATC holders would be a boom to bolster their functional prospects.
The Institute of Chartered Accountant of India (ICAI), is a statutory body set up in 1949, under an Act of Parliament, for regulation of the profession of Chartered Accountancy in the country. It is the second largest accounting body in the world. It has its headquarters in New Delhi and operates through five regional offices and 118 branches all across the country and 21 overseas Chapters. The Institute is managed by a Council of elected representatives and those nominated by the Government. The Institute has over 1, 55,000 members and 5, 00,000 students in the country.
Chartered Accountancy is a globally acclaimed profession, capable of offering new vistas to young talent by providing challenging opportunities. The multi-faceted knowledge a chartered accountant possesses through a unique blend of academics coupled with practical training, is what the business and industry need in the advent of liberalization, privatization and globalization of Indian economy. The Chartered Accountants have emerged as a complete business solution provider.