The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. ICAI operates under the aegis of the Ministry of Corporate Affairs of the Government of India. It is the second-largest professional body of Chartered Accountants in the world, with a membership of over 360,000, engaged in various Government, public, private, and social organisations making a significant contribution to the world’s economy.
The ICAI has negotiated Mutual Recognition Agreements (MRA), Bilateral Co-operation Agreements, and International Pathway Programs with accounting professional bodies in various countries including the United Kingdom, Canada, South Africa, UAE, and Ireland.
In Australia, there are two mutual recognition agreements that have been signed by the ICAI with the premier accounting bodies of Australia, CAANZ and CPA Australia. The mutual agreements recognise the professional qualifications of each other’s governing Institutes in Australia and India and scope further collaborations in the fields of accounting and finance.
The Chapter is a non-profit organisation registered in NSW and its parent body is the Institute of Chartered Accountants of India. The Chapter was established in January 2007 and is growing over the last 15 years. The Chapter has multiple membership streams, and it supports diversity and inclusion. The members of the Chapter have an in-depth knowledge of social, business, and economic backgrounds and shifts taking place both in India and Australia. We estimate there are 3,000+ members of ICAI currently employed in Australia across private consulting practice, private business operations, Big 4 professional firms, financial institutions, commerce, and government sector at both the state and federal levels making contributions to the Australian economy.
The Chapter aims to provide a platform to its members in the Sydney region for their professional and personal development and positively contribute to the region’s economy. The Chapter’s members include members of ICAI as well as other professionals (including accountants of mutually recognised institutes) as professional associates. In year 2022 alone, the Chapter organised over 40 events across professional development programs, workshops, knowledge series, family and social gatherings and community programs.
To facilitate the professional growth of Chapter members with the highest levels of integrity and effectiveness and strategically partner with other accounting bodies of Australia. To be a partner in Australia’s economic growth by providing a dynamic, open environment that encourages creative thinking and innovative ideas from our members and professional associates.
To be recognised as a premier overseas chapter towards fulfilling ICAI core elements of: