Taking forward India's economic growth story, ICAI join hands with CII as a Prime partner for B20
- The Institute of Chartered Accountants of India has become prime partner with CII for B20, furthering the ambition of India to become Vishwaguru.
- B20 is a prestigious dialogue forum of the G20.
- ICAI also becomes a part of the ESG Action Council.
- Transparent, robust accounting standards and practices are vital for establishing trust in the global partnerships and emerging global economy.
The Institute of Chartered Accountants of India has become a prime partner with CII for B20. The ICAI is poised to provide leadership for auditing, sustainability reporting standards, and digital accountancy for international trade and services development. Over time, ICAI has achieved recognition as a premier accounting body in the country and globally for maintaining the highest standards in technical and ethical areas and sustaining stringent examination and education standards.
Through this partnership ICAI will be a part of ESG Action Council and will be involved in various policy making initiatives of B20.
"The partnership of ICAI with B20 as a Prime Partner reflects our commitment to support the Indian government in making India a Vishwaguru. Today the global economy requires transparent, robust accounting standards and practices for sustainable development. We at ICAI look forward to this partnership and provide our technical and knowledge support to all the participating nations," said CA. Aniket S. Talati, President, ICAI. Further he highlighted that members and students of ICAI will be allowed online access to events of B20.
ICAI has been in the forefront of leading good governance practices ensuring resilient accounting and auditing practices. Its role in regulating the orderly growth of the profession, oversight on members functioning through effective Disciplinary Mechanism, as a Standard Setter and as an Educator, has been exemplary in its existence of over seven decades.
Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 is among the most prominent Engagement Groups in G20, with companies and business organizations as participants. The B20 leads the process of galvanizing global business leaders for their views on global economic and trade governance issues and speaks in a single voice for the entire G20 business community.
The B20 aims to deliver concrete, actionable policy recommendations on priorities by each rotating presidency to spur economic growth and development. The B20 bases its work on Task Forces (TFs), and Action Councils (ACs) entrusted to develop consensus-based policy recommendations to the G20 and international organizations and institutions. The B20 officially conveys its final recommendations to the G20 Presidency during the B20 Summit.
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.