CA Day, or Chartered Accountant Day 2023, will be celebrated on July 1, like every year. The day commemorates the formation of ICAI (Institute of Chartered Accountants of India) and hence is also known as ICAI Foundation Day. Chartered accountants significantly impact the progress of our nation. Additionally, the ICAI is an organization that controls India's accounting standards. The ICAI is the sole organisation in India that issues licenses and regulates the professions of accounting and financial auditing. Every organization involved in finance and accounting, including the National Financial Reporting Authority (NFRA), is expected to abide by their recommendations for accounting standards. Send Positive Quotes, Thoughts, SMS And Sayings To Greet All The Chartered Accountants.

CA Day History

The government made the decision to keep an accountants' registry in 1930. Although practices were evolving, the accounting profession remained unregulated until 1948, when an Experts Committee made the idea to establish an independent body to govern accountants and their practices. Until then, the Institute of Chartered Accountants in England and Wales (ICAEW), which registered all Indian accountants, regarded them all as Chartered Accountants. WhatsApp Messages, HD Wallpapers and Quotes To Wish Everyone on 74th Anniversary of the ICAI.

On July 1, 1949, a Parliamentary Act established the Institute of Chartered Accountants of India (ICAI). One of the country's oldest professional institutions, the ICAI, was founded a year before the official Constitution of the nation. It is currently the second-largest corporate accounting and finance organization in the world, with over 2.5 lakh members.

CA Day Significance

The Indian Institute of Chartered Accountants (ICAI) sets the qualifications for CAs, conducts the exams and awards practice certificates. This makes the day significant for celebrating the ICAI and the work and achievements of chartered accountants nationwide.

Since it honours the crucial contributions made by chartered accountants (CAs) around the world, CA Day is incredibly significant, especially for accounting professionals. The event that CAs look forward to the most each year reminds them of the support they provide to diverse firms.

Additionally, CA Day emphasizes the value of ongoing professional development and the requirement for general financial awareness. As we commemorate this wonderful day, we should sincerely thank the experts who help companies maintain a healthy financial position and contribute to the country's overall development.

(The above story first appeared on LatestLY on Jun 30, 2023 02:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).