Chartered Accountants’ (CA) day is celebrated annually on 1 July with an aim to commemorate the findings of the Institute of Chartered Accountants of India (ICAI) by Parliament in 1949. ICAI is among the oldest professional institutions in the country and also the second largest professional accounting and finance body in the world in terms of members.
Chartered Accountants Day: Significance
The Institute of Chartered Accountants of India (ICAI), which sets the requirements for chartered accountants, administers the exams, and issues certificates of practice, is a key player in the regulation of the accounting profession in India. Thus, the day is important for honoring the ICAI as well as appreciating the efforts and contributions of chartered accountants across the nation.
Chartered Accountants Day : History
The Chartered Accountants’ Day honors the founding of the Institute of Chartered Accountants of India (ICAI), the second-largest accounting organization in the world and the country’s first national professional accounting body. It was created on July 1st, 1949, as a statutory body by the Indian Parliament under the Chartered Accountants Act. India celebrates this day each year to commemorate the founding of the Institute of Chartered Accountants of India (ICAI).
