INDIA’S FIRST CHARTERED ACCOUNTANT MEMBERSHIP CERTIFICATE ISSUED
INDIA’S FIRST CHARTERED ACCOUNTANT MEMBERSHIP CERTIFICATE Has been issued to gopaldas padamsey kapadia of Bombay now Mumbai. he was the first ever chartered accountant of india or you can say he was the first membership certificate holder of chartered accountancy fraternity.
Membership Certificate was issued in the name of Gopaldas Padamsey Kapadia on Ninth day of June 1950. He was admitted as a fellow of the Institute of Chartered Accountants of India on the Sixteenth day of August ‘ 1949.
[button color=”” size=”” type=”3d” target=”” link=””]The Membership Certificate of Gopaldas Padamsey Kapadia[/button]
[button color=”” size=”” type=”square_outlined” target=”” link=””]Some Facts about Institute of Chartered Accountants of India – ICAI[/button]
The Institute of Chartered Accountants of India (ICAI) is the national professional accounting body of India. It was established on 1 July 1949 as a body corporate under the Chartered Accountants Act, 1949 enacted by the Parliament (acting as the provisionalParliament of India) to regulate the profession of Chartered Accountancy in India. ICAI is the second largest professional accounting body in the world in terms of membership, after American Institute of Certified Public Accountants. ICAI is the only licensing cumregulating body of the financial audit and accountancy profession in India. It recommends the accounting standards to be followed by companies in India to The National Financial Reporting Authority (NFRA) and sets the accounting standards to be followed by other types of organisations. ICAI is solely responsible for setting the auditing and assurance standards to be followed in the audit offinancial statements in India. It also issues other technical standards like Standards on Internal Audit (SIA), Corporate Affairs Standards (CAS) etc. to be followed by practicing Chartered Accountants. It works closely with the Government of India, Reserve Bank of India and the Securities and Exchange Board of India in formulating and enforcing such standards.
Members of the Institute are known as Chartered Accountants. However the word chartered does not refer to or flow from any Royal Charter. Chartered Accountants are subject to a published Code of Ethics and professional standards, violation of which is subject to disciplinary action. Only a member of ICAI can be appointed as auditor of an Indian company under the Companies Act, 1956. The management of the Institute is vested with its Council with the president acting as its Chief Executive Authority. A person can become a member of ICAI by taking prescribed examinations and undergoing three years of practical training. The membership course is well known for its rigorous standards. ICAI has entered into mutual recognition agreements with other professional accounting bodies world-wide for reciprocal membership recognition.
Source : wiki
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