The newly elected President of the Institute of Chartered Accountants of India (ICAI), CA Charanjot Singh Nanda, along with Vice President, CA Prasanna Kumar D, communicated his vision at a press conference in New Delhi. From February 12, 2025, the newly elected 26th Council will come into force. President CA. Charanjot Singh Nanda’s major focus was on merging technology with human well-being. ICAI President CA. Charanjot Singh Nanda Unveils Vision for 2025-26: Advancing Technology & Promoting Work-Life Balance
He outlines the integration of top-class technology like Artificial Intelligence for efficiency, precision, and progress. During the time he specifies, the importance of work-life balance is ensuring that professionals will succeed in their careers and lead fulfilling personal lives.
Advancing Technology & Promoting Work-Life Balance
On this occasion, he expressed, “This year we have formed a new Committee on Promoting Work-Life Balance because in today’s fast-paced world, professionals need moments to relax and pursue personal interests for better productivity. The work of a chartered accountant is demanding. Through this initiative, we aim to ensure that our members find the right balance between their professional commitments and personal well-being, making them more productive and fulfilled.”
The President, ICAI, announced several strategic initiatives emphasising the major priorities for the term 2025-26.
- Committee on Promoting Work-Life Balance: An initiative committed to promoting well-being and personal development among members and students.
- Technology integration: To increase the efficiency of the profession, strengthening AI, blockchain, and data analytics applications in accounting and auditing.
- Expanding Global Outreach and Exploring New Avenues: Expanding the International footprint of ICAI via fostering robust networking opportunities for Indian Chartered accountants.
- Empowering students: Launching structured mentorship programs and faculty development initiatives to support students
- Non-Financial Reporting and Sustainability Initiatives: Improving the coverage of sustainability reporting, motivating eco-friendly business practices, and lessening the carbon footprint of the profession.
- Strengthening Disciplinary Mechanism: Strengthening the disciplinary framework to ensure integrity, ensuring swift and fair proceedings.
- Partner in Nation Building: Streamliner to Government Strengthening MSMEs, improving financial literacy, and partnering with regulators.
- Research & Excellence: Focus on in-depth research in significant areas contributing to the development of the country.
- Brand Reinforcement: Strengthening the ethical foundation and global reputation of the ICAI.
- Promoting Global Indian Firms: Implementing Domestic and Overseas Networking guidelines, Merger & Demerger rules & guidelines, Multi-Disciplinary Partnership Guidelines, etc.
- Promoting Global adoption of Forensic Accounting and Investigation Standards (FAIS) issued by ICAI
- Dedicating over 1.4 million CA professionals and students to the service of the nation
Vice President CA. Prasanna Kumar D., closing the conference, reaffirmed ICAI’s role in driving financial transparency, governance, and innovation, highlighting its dedication to India’s economic progress and global financial leadership.
Official Announcement by ICAI: Click here
ICAI Focuses on Making GST Simpler and Improving Financial Knowledge for All
To make the rules easy to understand for everyone in the nation concerning finance, and comply with Goods and Services Tax (GST), the Institute of Chartered Accountants of India (ICAI), led by its newly elected President, CA. Charanjot Singh Nanda is increasing its efforts. The objective of ICAI for a Viksit Bharat or Developed India is been supported under the same initiative, equipping people with the skills they require for navigating GST and practising appropriate financials.
Following the GST norms by the taxpayers is challenging, ICAI noted. The GST & Indirect Taxes Committee, to support them, has taken a close look at significant forms used for annual GST reporting that have not been updated in a while. Supporting the government through suggestions makes it streamlined for businesses and individuals to submit such forms and comprehend their tax obligations.
Through educational programs, ICAI is making efforts to spread awareness of GST. They have conducted more than 8,828 Investor Awareness Programs (IAPS), reaching over 442,000 participants, including women, young people, and military members. The goal of such programs is to make a society that is secure and financially smart by assisting people in understanding financial management, tax compliance, and the laws they must comply with.
Also, ICAI formed modern online courses on the Government’s ‘iGOT Karmayogi’ platform, which is created to train officials in fields such as financial planning and tax filing. From individual citizens to small business owners, everyone is empowered, which is the motive so that they can choose a perfect option and make successful organisations.
In this mission, the significant role of Chartered Accountants has been outlined by the President CA. Charanjot Singh Nanda. Chartered Accountants, as a recognised finance professional, simplify complicated financial ideas by making them simpler for everyone to comprehend. They foster ethical financial behaviour and smart financial decisions through their advisory, auditing, taxation, and consulting services.
In conclusion, ICAI under CA. Charanjot Singh Nanda’s leadership is making robust efforts to facilitate GST and correct financial literacy. The same efforts specify the devotion of the institute to make a more inclusive and financially empowered nation. Chartered Accountants, by spreading awareness about GST, can help ensure that fiscal growth is backed by informed and responsible financial participation from people.
Read the official announcement: President’s Message – May 2025. https://icai.org/post/president-message
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