New President of Icai is M Devaraja Reddy [ Current Affairs ]

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New President of The Institute of Chartered Accountants of India (ICAI) is Reddy Devaraja. He will serve as precedent for one year as declared by an apex body of Indian Chartered Accountant. For the Council Year 2015 - 16 He was serving as Vice President of ICAI. He is chartered accountant for 28 years.

About Institute of Chartered Accountants of India (ICAI):

  • It was established on 1st July 1949 under the Chartered Accountants Act, 1949.
  • ICAI is a statutory body for the profession of Chartered Accountants in India.
  • The activities of the Chartered Accountants Regulations, 1988 and Chartered Accountants Act, 1949 have been managed by Council of ICAI.
  • ICAI is second largest in world in terms of members and only Indian licensing cum regulating accounting body.
  • The Council has total 40 members from that 32 are elected by the members and remaining 8 are nominated by the Union Government.
  • Technical standards like Standard on Internal Audit (SIA), corporate Affairs Standard (CAS) for Government of India, Reserve Bank of India and Securities and Exchange Board of India has been issued by ICAI.
  • The Comptroller and Auditor General of India (CAGI), Ministry of Finance, Ministry of Corporate Affairs and other stakeholders are generally represented by the Union Government.

- Published on: February 18, 2016