Union Minister Sri Venkaiah Naidu Inaugurating 'Jnana Yagna’, an International Conference organised by the Institute of Chartered Accountants of India at Hyderabad

Union Minister Sri Venkaiah Naidu Inaugurating ‘Jnana Yagna’, an International Conference organised by the Institute of Chartered Accountants of India at Hyderabad

Inaugurating ‘Jnana Yagna’, an International Conference organised by the Institute of Chartered Accountants of India at Hyderabad along with ICAI President Sri Devaraja Reddy, Mr. Nilesh Vikamsey, past Presidents and other members of ICAI and Confederation of Asian and Pacific Accountants President Ms Jackie Poirier, Dy President CA Manoj Fadnis and other members of CAPA…

ICAI is a 67 year old institution which grew in strength from 1500 in 1949 to 2, 60,000.
Accountancy is defined as “the methods of recording transactions, keeping financial records, analysing and reporting financial information to the management and advising on taxation matters to management”. It is systematic process of recording, measuring, clarifying, verifying, summarizing, interpreting and communicating financial information.

I complement ICAI for choosing this theme Jnana Yagna. These Sanskrit words mean knowledge and devoted pursuit. India has the great traditions of Accountancy with ‘Chitraguptha’ being widely known for such profession, He had no computers to help and maintain such records but he does his job pretty well.

Our Prime Minister believes in Mission Transformation-India and the principle of trinity for changing India is to Perform, Reform and Transform.

Make in India, Skill India, Digital India and Clean India are the four pillars for the mission of transformation

GST (Goods and Service Tax) introduces a huge challenge and opportunities for the Charted Accountants. Some people in the country know only “count” but cannot “account”. A transparent and accountable environment is the key for rapid economic growth. The corporate irregularities that we hear from time to time for a matter of concern for all of us. I am sure CAs can play a role in curtailing them.

The challenge before the ICAI and its members is how to play an enabling role in fully realising the Indian growth story. A certificate or a statement of CA has certain credibility as it carries a stamp of authority and approval. This product needs to be made globally more acceptable. Shri Devaraja Reddy , President ICAI presided over the meeting.