CA. Naveen N. D. Gupta elected as President, ICAI & CA. Prafulla Chhajed as Vice-President, ICAI for the year 2018-19.
CA. Naveen N. D. Gupta, President ICAI for 2018-2019
A man of professional wisdom, vision and strong organisational skills with a firm belief in inclusive growth of Indian accountancy profession, CA. Naveen ND Gupta has been elected as the new President of The Institute of Chartered Accountants of India (ICAI) on 12th February 2018. A seasoned professional of 22 years of standing, CA. Naveen ND Gupta is widely commended for his role in making the Income Disclosure Scheme, 2016 a success, which was acknowledged by the Finance Minister.
He is now Chairman of Board of Directors of ICAI-ARF (Accounting Research Foundation) and XBRL India. ICAI-ARF is instrumental in driving governmental accounting reforms in various bodies such as Indian Railways, MCD and KMC. He is also Director Indian Institute of Insolvency Professionals of ICAI, which is the first Indian IPA. Internationally, he is technical Advisor to member SMP Committee of IFAC.
His association as Central Council Member at ICAI, now running in 9th year since 2010, with position as Vice President in 2017-2018; has made him traverse regimen of standard setting, quality assurance framework, and disciplinary mechanism. He has earlier been Chairman of ICAI’s Committee (s) on Direct Taxes, Economic, Commercial Laws & WTO, Peer Review Board, Capacity Building of CA Firms and Small & Medium Practitioners and Public Relations. He has been appreciated for his distinguished contribution as Vice-Chairman of Audit & Assurance Standard Board, Professional Development Committee, Internal Audit Standards Board, Continuing Professional Education Committee, and Board of Studies.
Known for his prowess in many areas, he steered the drafting of IFRS compliant Schedule III to the Companies Act, 2013, Ind-AS compliant Schedule III for NBFC, Ind-AS -114 on Regulatory Deferral Accounts and Guidance Note on Accounting for Rate Regulated Activities as Convener. He is also credited for initiating and starting two Certificate Courses on ‘Intellectual Property Rights’ and ‘Anti Money Laundering Laws’ for ICAI.
He is representing ICAI in many important committees constituted by the Government Ministries/ Regulators such as Government Accounting Standards Advisory Board (GASAB) and Audit Advisory Board both constituted by C&AG of India, Board of Insurance Regulatory & Development Authority (IRDA), National Advisory Committee on Accounting Standards (NACAS) and SEBI’s Primary Market Advisory Committee.
With focus on innovation and niche enablement, he intends to position CA profession as aiding and upholding public interest by enhanced focus on Quality Assurance framework, calibrating Regulation with development and leveraging digital technology to turn disruptions arising out of changing paradigm of businesses to niche empowerment.
His vision is to work for Global mobility of CA professionals through enhanced focus on recognition overseas, capacity building through exposure to jurisdiction specific skill building programs and exploring newer industrial training opportunities domestically and overseas as also international placements of Indian CAs.
CA. Prafulla Chhajed, Vice-President ICAI 2018-2019
A blend of erudition, experience, foresight, technical expertise and professional excellence worth emulating, CA. Prafulla Chhajed , has been elected as the Vice-President of The Institute of Chartered Accountants of India (ICAI) by its 23rd Council, on February 12, 2018. A Fellow Chartered Accountant from Mumbai with over 20 years of experience in Auditing & Taxation, he is a prolific speaker at national and international forum. He has been contributing to various Publications and his articles on Taxation and Investments have been published in well-known Marathi daily ‘Maharashtra Times’ since 14 years and also in other Publications.