14 Nov :In this landmark year when The Institute of Chartered Accountants of India (ICAI) is celebrating its Diamond Jubilee year, Shri Ved Jain, President, ICAI has been appointed as a Member on the Board of International Federation of Accountants (IFAC)
His term will be for 3 years.This was announced during the IFAC Council meeting held at Rome, Italy. Shri Ved Jain took over as the President of ICAI in February this year. ICAI is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. During its nearly six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the world.
IFAC (International Federation of Accountants) is the global organization for the accountancy profession. It works with its 138 members and 20 associates in 123 countries and jurisdictions to protect the public interest by encouraging high quality practices by the world’s accountants. ICAI is one of the members of IFAC. IFAC members and associates, which are primarily national professional accountancy bodies, represent 2.5 million accountants employed in public practice, industry, commerce, government, and academia.