Annually, people observe CA Day to mark the establishment of the ICAI. The biggest statutory body overlooking the regulation of Chartered Accountants in India. The Parliament of India established the Chartered Accountants Act, 1949, and subsequently established the ICAI. Get an overview of Chartered Accountants Day below.
- The Institute of Chartered Accountants of India, or the ICAI, is a statutory body that the Parliament of India established in 1949 through the Chartered Accountants Act, 1949.
- Every year, CA Day is celebrated to mark the founding of the ICAI.
- The ICAI is one of the oldest bodies that overlooks professional courses in India.
- The first CA certificate ever to be issued by the ICAI was given to CA Gopaldas Padamsey Kapadia, who later went on to become the first ICAI president.
History of Chartered Accountants Day 2023
In 1949, the Institute of Chartered Accountants of India (ICAI) was founded through an Act of Parliament in India, tracing its roots back to the establishment of Chartered Accountants Day, also known as CA Day. The ICAI, as a statutory body, holds the responsibility of regulating the Chartered Accountancy profession in the country. This significant day commemorates the formal establishment of the ICAI, representing a major milestone in the field of accountancy in India. Prior to the formation of the ICAI, the accounting profession in India lacked regulation. The creation of the ICAI introduced a structured framework for the education, qualification, and professional conduct of Chartered Accountants in the nation.
Chartered Accountants Day is significant because it highlights the role of a CA in any given firm. A CA is responsible for developing financial statements, tax filing, bookkeeping, etc. People celebrate CA Day in honor of the important job of Chartered Accountants.
- This day is about commemorating the establishment of the ICAI, the important statutory body that regulates the profession of Accountancy in India.
- CA Day raises awareness about the significance of the role of a Chartered Accountant.
- This day encourages people to take up the profession of a CA.
How to Celebrate Chartered Accountants Day ?
People celebrated Chartered Accountants Day in many different ways. The primary reason for celebrating this day is to commemorate the establishment of the ICAI and to honor the work of all CAs. Some of the ways to observe CA Day are as follows.
- Send your CA a token of appreciation for their hard work.
- Organize a party on this day to show that you care about the work of Chartered Accountants.
- Spread the word about CA Day on social media, and encourage people to participate in the celebration of this day.
What Is the Importance of CA Day?
CA Day holds immense importance, especially for accountant professionals as it commemorates the invaluable contributions made by chartered accountants (CAs) worldwide. The most-awaited occasion of the year for CAs reminds them of the contribution they give to various businesses. It brings together professionals, organisations, and the public to acknowledge and applaud the exceptional expertise, unwavering professionalism, and high ethical standards demonstrated by CAs. Moreover, CA Day underscores the significance of continuing professional development and the need for widespread financial literacy. As we are going to celebrate this special day, we should express endless gratitude towards the professionals who make an organisation financially strong and contribute to the nation’s growth.
Chartered Accountants Day 2023