President
CA. VED JAIN, PRESIDENT, ICAI 2008-09
CA.VED JAIN, FCA, New Delhi, aged 54 years has been elected as President, The Institute of Chartered Accountants of India (ICAI), the apex body of the profession of Chartered Accountants in India for the year 2008-2009 on 5th February 2008. Academically brilliant, he is a rank holder in both CA Inter and CA Final. A Triple Bachelors Degree Holder, he has done his Bachelors of Science from Punjab University in 1973. A true follower of Continuous Professional Education, after completing his chartered Accountancy in 1973, for the love of the subject he did his Bachelors of Arts in Economics in 1979. His thirst for knowledge was not slaked still and he completed his Law Bachelors Degree in 1980 from Delhi University. A Fellow Member of ICAI with more than three decades of standing, CA. Ved Jain was elected to the Central Council of ICAI for the first time in 2004 and thereafter in 2007.
He has also held the position of Chairman and Vice-Chairman of Fiscal Laws Committee and Chairman of the Audit Committee. Besides the above, he has also served as a member on several committees namely – Executive Committee, Disciplinary Committee, Accounting Standards Board, Auditing and Assurance Standards Board, Committee for Members in Industry, Committee on Financial Markets and Investors’ Protection, Professional Development Committee, Board of Studies, Committee on Ethical Standards, Editorial Board, Continuing Professional Education Committee, International Affairs Committee and Committee on Accounting for Local Bodies. He is holding the Chair of all the three standing committees- executive, finance and examination. He also holds Chair of Board of Discipline, Perspective Planning, Diamond Jubilee and International Affairs committee. He is the Editor of monthly Journal “The Chartered Accountant”.
He is a member of the National Advisory Committee on Accounting Standards constituted by the Ministry of Corporate Affairs, Govt. of India and also Co-Chairman of the Committee on Direct Taxes of ASSOCHAM. He is a member on the Board of Governors of the Indian Institute of Corporate Affairs set up by the Ministry of Corporate Affairs, Government of India. He is a member of the Audit Advisory Board and the Government Accounting Standards Advisory Board – both constituted by the Comptroller and Auditor General of India. He is a member of the Central Direct Taxes Advisory Committee constituted by the Ministry of Finance, Government of India. He is a member on the Committee on Internal Audit constituted by the Office of Controller General of Accounts, Government of India. He is a member on the Board of Insurance Regulatory and Development Authority (IRDA). He is a member on the Board of Tariff Advisory Committee of Insurance Regulatory and Development Authority (IRDA). He is a member of the High Level Steering Committee for implementation of XBRL based data submission by Banks constituted by the Reserve Bank of India. He is also a member of the Governing Body of National Institute of Public Finance and Policy (NIPFP). He was also a member of the Committee on Accounting Standards constituted by the Central Board of Direct Taxes (CBDT), Ministry of Finance, Govt. of India. He is a Member of the Developing Nations Committee of the International Federation of Accountants (IFAC). In the IFAC Council meeting held on 12th – 13th November, 2008 at Rome, Italy, he has been appointed as a Member on the Board of IFAC for a term of 3 years. IFAC is the global organization for the accountancy profession with its 138 members and 20 associates in 123 countries all over the world. The IFAC works to protect the public interest by encouraging high quality practices by the world’s accountants. ICAI is also one of its members.
He has been a member of the Income Tax Appellate Tribunal, Ministry of Law, Justice and Company Affairs, Govt. of India. He is also on the Editorial Board of selected orders of ITAT (SOT). A prolific writer, he has authored many books on Direct Taxes and regularly contributes articles on tax matters in various journals, newspapers and frequently makes his presence on various television channels.
His vision for ICAI is to develop Internationally comparable infrastructure, with state-of-art in-house computer centers. He envisages a fully equipped Role Model Board of Studies and aims to pursue his mission with relentless passion and single-minded devotion and to bring it to fruition.
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