The President of the Institute of Chartered Accountants of India (ICAI) CA Aniket Sunil Talati’s message gave the importance to ethics and adapting the technology for the public interest and to improve the confidence in the CA Profession.
The president stated that ‘AI’ is not just about ‘Artificial Intelligence’ but ‘Adaptive Intelligence’ as well. As auditors, the president urged the members to adapt with the methodologies and adopt advanced tools to further enhance the effectiveness of audit procedures.
Further mentioned that “In our pursuit of excellence, we must never lose sight of our primary role as protectors of public interest. With rise of technology, data privacy and Cybersecurity have become paramount concerns. Transparency and ethical practices are the bedrock on which our profession rests. As we onboard this technology-enabled journey, we must reaffirm our commitment to ethics and integrity. Ensuring ethical practices in the development and deployment of technology is crucial to preserving public trust and confidence in our profession.”
The ICAI has been making efforts at the institute level to create an ecosystem that promotes Competence, Credence, and Compliance by integrating technology into our learning and work processes.
This includes implementing a technology-oriented New Education & Training curriculum to nurture the skills of future professionals, enhancing digital competence and preparedness of firms through the Digital Competency Maturity Model, Digital Audit tools, and the Unique Document Identification Number (UDIN) to enhance the credibility of statements and documents. Additionally, the ICAI has recently developed Forensic Accounting & Investigation Standards to strengthen reporting in the evolving digital landscape.
The President also pointed out the recent developments and programmes conducted by the ICAI including nationwide tax clinics, ICAI Global Professional Accountants Convention (GloPAC), Stakeholder’s engagement, Commemoration of 164th Income Tax Day, SAFA Board Meeting, Stakeholders Consultation Meetings on MCA 21 V3, MoU with Department of State Taxes, Goa, Agreement with Finance Department, Government of Uttarakhand, Deferment of Second phase of Peer Review Mandate, ICAI Doctoral Scholarship Scheme 2023, ICAI Research Project Scheme 2023.etc.
The president concluded the message stating “As Chartered Accountants, we stand on the threshold of a digital revolution, where the mastery of technology will elevate our ability to serve our clients and the nation. Continuous learning and upskilling are the pillars that will bolster our success in this rapidly evolving technological landscape. Our dedication to staying abreast of the latest tools, trends, and regulations will fortify our position as leaders in the financial world, ensuring that we remain agile and adaptable to the changing demands of the digital era.”
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