• Register
Return to: Home > News > Ramaswamy named ICAI president

Ramaswamy named ICAI president

G Ramaswamy has taken over from Amarjit Chopra as the president of the Institute of Chartered G RamaswamyAccountants of India (ICAI). Jaydeep Shah has been appointed vice president and will take over the presidency in a year.

In his first initiative as president, Ramaswamy called for a change to India’s corporate law so that fines up to INR10m ($220,143) can be imposed on erring audit firms in response to the Satyam Computer Services fraud of 2009.

At present, the ICAI has the power to punish individual auditors but can not take action against audit firms.

The ICAI is one of the most powerful national accounting bodies in the world. In addition to its qualification activities, the ICAI is also an audit regulator and national standard setter. In 2010, the body had 166,258 members and 726,578 students.

Ramaswamy qualified as a chartered accountant in 1984 and has experience in tax, company law, audit, internal audit and management consultancy. He is also a fellow member of the Institute of Company Secretaries of India (ICSI).

Shah is the ICAI Ethical Standard Board chairman, ICAI Financial Reporting and Review Board chairman and vice chairman of the ICAI Capacity Building and Small & Medium Practioners Committee.

Meanwhile, at a recent ICAI annual conference, Chopra said the ICAI achieved a lot in the past year, including completing the convergence process with IASs and IFRSs and being designated as the nodal agency for IFRS education in the country.

Other highlights are:

  • Strengthening the accounting and financial system in different tiers of the Indian Government including providing training to the officials at Central and State level;
  • Strengthening the accountability in various Government schemes;
  • Launching live virtual classes for providing quality education to CA students;
  • Launching an e-Sahaayataa facility to provide prompt services to members and students; and
  • Issuing a unique code for members in practice.

 

Top Content

    Illicit financial flows: the Crippling of african economies and the accountants’ guilt

    At the Africa Congress of Accountants (ACOA 2017) held in Uganda in May, a panel of experts looked at the impact of illicit financial flows on African economies and the role of the accountant in combating such transactions. The panellists’ presentations were followed by a Q&A session with the audience. highlights of the Q&A are published below. Compiled by Vincent Huck

    read more

    In the land of a thousand hills: a long hike uphill – but rwanda is determined to build the profession

    Amin Miramago was appointed CEO of the Institute of Certified Public Accountants Rwanda in March this year. While attending the Africa Congress of Accountants in May he spoke to Vincent Huck about iCPAR’s strategic plan and how the institute aims to contribute to the Rwandan government’s objective to make the country the financial hub of the region.

    read more

    Cayman islands: in search of tax legitimacy

    Cayman Finance CEO Jude Scott defends the Cayman Islands’ track record in tax transparency and the quality of its financial services. Interview by Vincent Huck

    read more

    Comment: Greek Steps Forward

    By Ian Ball, chairman, CIPFA International

    read more

    The next generation’s take on a profession desperate to attract talent

    To celebrate international youth day, The Accountant asks professionals aged under 35 to share their thoughts on the profession: why they qualify as accountants, whether it was challenging and, now that they are in, how they see the profession and where it is going.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.