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Who is a Chartered Accountant?

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Who is a Chartered Accountant? and What is the Scope of the Chartered Accountant in india?

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5 Replies

CA Chaitanya (PRACTISING CA) (4283 Points)
Replied 05 November 2008

Just refer www.icai.org and you will know the importance of a Chartered Accountant and his role in the Indian economy.

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vivek kumar jain (service/student) (559 Points)
Replied 05 November 2008

a chartered accountant is a person whose name is entered in the register of members of the icai.

for scope, please refer the website_ icai.org and other related sites.

RAKESH (Almost CA) (2199 Points)
Replied 05 November 2008

chartered accountant is one who helps develop its nation . for details please refer to the below given website www.icai.org

CA RAMESH KUMAR AHUJA (CA, DISA, LLB) (5452 Points)
Replied 06 November 2008

A chartered accountant is a person whose name is entered in the register of members of the ICAI. Chartered Accountant is supposed to be an expert professional of accountancy and its scope is very wide.

CA. Dashrath Maheshwari (TaXpert) (15103 Points)
Replied 06 November 2008

Dear Mr. Harish and others,

In India, the profession of chartered accountancy is regulated by the Institute of Chartered Accountants of India which was founded under the Chartered Accountants Act of 1949. The ICAI is responsible for examinations and licensing of it members. ICAI is the second largest body of Professional Accountants in the world with nearby 150,000 registered members.

Members are awarded the CA designation.

The Chartered Accountants Act, 1949 was passed on May 1. The term Chartered Accountant came to be used in place of Indian Registered Accountants. In this case, therefore, the term "Chartered" does not relate to a Royal Charter as in the case of the UK or Australia, as there is no Royal Charter in the Republic of India.

A person shall be awarded the CA after passing the relevant examinations and completion of three and a half years of articleship training (apprenticeship). This is to ensure that trainees have a mix of theoretical and practical training before they become members.

Statutory Audit under the Companies Act, 1956 and Tax Audit under the Income-Tax Act, 1961 can be carried out only by Chartered Accountants holding a Certificate of Practice.

The ICAI has also entered into Mutual Recognition Agreements with several overseas accounting bodies. e.g. the CECA with Singapore. The Institute is in process for opening up with various other countries and governments.

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