ICAI in Controversy: ICAI Leadership Criticised for Risking CA Profession’s Future with Reckless Reforms
An individual at platform ‘X’ (formerly Twitter) has recently criticised the individuals who are presently leading the Institute of Chartered Accountants of India (ICAI). ICAI is an apex body that manages the Chartered Accountancy (CA) profession and exams in India.
The user is saying that those who are currently part of the ICAI council are damaging the future of the CA profession and professionals by their poor decisions. They believe the leaders are introducing unnecessary and harmful changes in the exam system. The user has addressed the ICAI Council as “the so-called Councils.”
The user is expressing his concern that soon the ICAI council will organise Chartered Accountants (CAs) examinations monthly instead of only twice a year. The council may give the reason behind this action that there is a high demand for CAs in the nation and that more frequent exams would help meet that demand.
He further complains about decisions taken by ICAI with leaders like Muhammad bin Tughluq, the Mad Sultan of Delhi, because of their arbitrary and impractical ideas.
He suggests ICAI go back to its old system, where two chartered accountant (CA) examinations were conducted per year and four subjects were included in each group, instead of introducing new, frequent exams or changing the course structure.
He ends his post by saying that the key aim of ICAI should not be just increasing the number of chartered accountants in India. Warns ICAI that if it continues to take such decisions, then it will adversely affect the CA profession in the country and could face serious problems in the future, as the quality and value of the profession may decline.
