Why CA Day Celebrated?

Jul 11, 2022 | Blog, Others

July 1st of every year will be the CA day. The 74th Anniversary of its foundation will be celebrated by the Institute of Chartered Accountants of India (ICAI) on July 1st as it is 2022. To date, in a massive country like India, a country with at least a billion people, there are only 4 lakh Chartered Accountants of the Indian Institute of Chartered Accountants. Due to the fact that this organization has set high standards for clearing the exam, there are hundreds of Chartered Accountants who are worth millions. In fact, there are several aspirants who want to become accountants, but only few are able to clear the exam and become certified as chartered accountants.

The USP of this profession is the fact that it is the only profession in India that is licensed for the determination of financial audit of any organisation and across the globe, it is the second-largest frame reporting education connected to accounting and finance.

It is certainly a matter of pride to be a member of such a large and valued frame and so to honor these members and their existence, every year we celebrate CA day dated as on 1st July.

Get to Know 5 Substantial Points About ICAI:

  • It is identified as the eldest professional frames in India which came into being by an act of parliament in 1949.
  • It is also the second major accounting association in the world after the American Institute of Certified Public Accountants (CPA).
  • Also, there is no kind of reservation in the ICAI and the reservation criteria should not followed.
  • The official emblem of the ICAI is the ‘Garuda’ and has ‘Upanishad’ quotes given by the Sri Aurobindo.
  • The first candidate to get the ICAI Certificate was CA Gopal das Padamsee Kapadia and he is also the first president of ICAI.

The title “Chartered Accountant” dotard the title “Registered Accountant”.
By this time numerous Indians were members of the Institute of Chartered Accountants in England and Wales (ICAEW) and were titled “Chartered Accountants”. In this way, the title “Chartered Accountant” dotard the label of “Registered Accountant”.

CA Day 2022
Institute of Chartered Accountants India (ICAI) on the 74th Chartered Accountants Day fetches virtual National CA Summit 2020 from 29 June to 1 July 2020. After all this, 1st July has been recognised as ICAI Foundation Day or CA Day 2022 in India to pay honour to one of the oldest and most dignified professions of India. CA day 2021 is a yearly occasion to mark the profession of ‘Chartered Accountants’ who are the spine of the country’s economy and its management. CA Portal is lively in its coverage of complete news, updates and articles based on chartered accountants’ day 2022.

Carnival of CA Day
The role of a Chartered Accountant is very significant in any business organisation, irrespective of the size and nature of the firm. An array of his/her responsibilities enlarges from preparing financial statements and developing financial plans to auditing, tax filings, bookkeeping and so on. So, to Laurel the profession and to admit its importance in an organisation as well as in the national economy, we celebrate CA Day every year on 1st July.

Every organisation has CA’s and has its peculiar way to celebrate the day. Some organisations arrange some events for the CA’s of their organization, some incentive’s these great initiatives and some take care of their clients by launching discount offers while arranging awareness activities, parties, donation activities etc. in their office premises.

    captcha

    Recent Blogs

    How Can NRI Transfer Money to India? A Complete Guide

    For Non-Resident Indians (NRIs), transferring money to India is a common necessity, whether for family support, investments, or property purchases. With numerous transfer options available today, NRIs can find a suitable method that offers both convenience and...

    Why a Tax Advisor is Essential for Your Business

    Running a business involves a multitude of responsibilities, from managing finances and scaling operations to ensuring compliance with ever-evolving tax laws. While tax season can be a daunting time for business owners, partnering with a tax advisor can transform the...

    Who Needs an Internal Audit in India?

    In India, internal audits are becoming more of a necessity than a choice for organizations of all types and sizes. Whether you’re running a listed company, a private firm, or even a non-profit organization, the role of internal auditing in ensuring financial...

    The Role of Accounting in Business Decision Making

    In today’s fast-paced and ever-evolving business environment, accounting plays a pivotal role in guiding businesses toward sound decisions. Whether you're running a small startup or a large corporation, understanding the financial health of your business is crucial....

    Effective Strategies for Managing Business Debt

    Running a business often involves taking on debt to fuel growth, manage operations, or navigate tough times. But if not managed properly, business debt can become overwhelming and hinder your success. In this article, we'll explore effective strategies for managing...

    Taxation of Expatriate Employees in India

    Understanding the taxation of expatriate employees in India is crucial for both individuals and businesses. Navigating the complex tax laws can be daunting, but it's essential for compliance and financial planning. Who is Considered an Expatriate in India? Definition...

    Choosing Between the New Tax Regime vs. Existing Old Regime

    Introduction Navigating the complexities of income tax in India can be daunting, especially with the introduction of the new tax regime. As a taxpayer, deciding between the new tax regime and the existing old regime can significantly impact your financial planning and...

    Complete Understanding About GSTR-1A

    Introduction to GSTR-1A When it comes to Goods and Services Tax (GST) compliance, there are numerous forms and procedures businesses need to be familiar with. One such form is GSTR-1A. But what exactly is GSTR-1A, and why is it important? GSTR-1A is a GST return form...

    Tax Planning Strategies for NRIs Returning to India

    Introduction Tax planning can be a complex process, especially for Non-Resident Indians (NRIs) who decide to return to India. As you prepare to transition back to your home country, understanding the tax implications is crucial to ensure you don’t end up overpaying or...

    MAKE AN IMPRESSION WITH US