Institute of Chartered Accountants of India (ICAI) has ushered in a new era with the election of CA. Ranjeet Kumar Agarwal as President and CA. Charanjot Singh Nanda as Vice-President for the year 2024-25. CA. Ranjeet Kumar Agarwal and CA. Charanjot Singh Nanda are set to play in steering ICAI towards progress and excellence. Their leadership promises a dynamic period for the accountancy profession in India, marked by innovation, international collaboration, and a commitment to ethical standards. As torchbearers of ICAI, their vision for India@2047 and endeavors to elevate the nation’s global stature are poised to shape the future trajectory of the profession.
Public Relations Committee
The Institute of Chartered Accountants of India
12th February, 2024
ICAI elects New Torchbearers for the year 2024-25
The Council of the Institute of Chartered Accountants of India (ICAI) today elected its new President & Vice-President for the term 2024-25.
CA. Ranjeet Kumar Agarwal has been elected as the President, ICAI and CA. Charanjot Singh Nanda has been elected as the Vice-President, ICAI w.e.f. February 12, 2024.
About ICAI
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute, functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With over 8.5 lakh students and around 4 lakh members, today ICAI is the largest professional accountancy body in the world, with a strong tradition of service to the nation. ICAI has a wide network of 5 Regional Councils and 175 Branches within India and a global presence with 50 Overseas Chapters and 31 Representative Offices spanning 81 cities across 47 Countries.
The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Ministry of Corporate Affairs, Ministry of Finance, Securities and Exchange Board of India and other stakeholders.
Brief Profile – CA. Ranjeet Kumar Agarwal, President, ICAI (2024-25)
A seasoned professional with strong organizational skills, having a penchant for excellence and an academic acumen, CA. Ranjeet Kumar Agarwal ascends to the esteemed position of the 72nd President of the Institute of Chartered Accountants of India for the year 2024-25. His longstanding affiliation with the institute spans epochs, having been chosen for three consecutive Council terms say 23rd, 24th, and 25th Central Councils preceded by two consecutive terms in Regional Council. Demonstrating enthusiasm and commitment to keeping pace with technological advancements, he actively engages in the integration of Artificial Intelligence & Automation, to build futuristic workplace and workforce by emphasizing on continuous training, upskilling, and reskilling. CA. Ranjeet Kumar Agarwal’s proactive work approach and unwavering commitment to embracing innovative concepts, exemplified by his fervent utilization of modern technologies, establish him as a guiding force and a source of inspiration for all.
While serving as the Central Council Member since 2016 and then as Vice-President in 2023-24, he has led the profession from front and shown his unwavering commitment to the profession. During his Chairmanship, EIRC has received the coveted award for being the Best Regional Council. His approach and guiding principle are to keep the Nation First and profession first in all his endeavors. In all his stints, he has led initiatives to build trust, confidence, and leadership. As the erstwhile Chairman of the Professional Development Committee, he played a pivotal role in the successful implementation of initiatives such as UDIN and Bank Branch Audit Allocation Software, marking significant milestones for the Institute. Furthermore, his instrumental role in extending UDIN implementation to SAARC countries underscores his global impact. Mr. Agarwal’s tenure as the Chairman of the Ethical Standards Board saw the formulation of a new Code of Ethics after a decade, a testament to his expertise and commitment to upholding ethical standards within the profession.
With a view to propel India ahead, he initiated the CA Business Leaders 40 under 40 campaign (Season 1 & 2) to build leaders for tomorrow, recognizing and celebrating the achievements of 40 young CA professionals under the age of 40, highlighting his commitment to fostering excellence and innovation within the industry.
Envisioning a future with tremendous prospects, the growth of the profession’s infrastructure is being strengthened across the country. During his tenure as the Vice-President of the Institute, the Policy of Centre of Excellence has been approved, planning 9 more COEs across India taking total to 11 and aimed to maximize the utilization of COEs.
As President of ICAI, CA. Ranjeet Kumar Agarwal is now by the virtue of his post the Chairman of all the Standing Committees, i.e., Executive, Finance, Disciplinary and Examination Committees, Ex-officio member of all Non-standing Committees, and Editor of ICAI Journal, The Chartered Accountant. He also Chairs the ICAI research wing Accounting Research Foundation (ICAI ARF), Extensible Business Reporting Language (XBRL) India and three funds for the welfare of CA fraternity such as Chartered Accountants’ Benevolent Fund (CABF), Chartered Accountants Students Benevolent Fund (CASBF), and S. Vaidyanath Aiyar Memorial Fund. He is also the Director on the Board of the Institute of Social Auditors of India (ISAI).
Continuing to advance the role of the Institute of Chartered Accountants of India as a partner in the nation’s development, while serving as President ICAI, CA. Ranjeet Kumar Agarwal is supporting the Government and Regulators as a Member of the Government Accounting Standards Advisory Board (GASAB) and Audit Advisory Board both formed by the C&AG of India, Insurance Advisory Committee and Board of Insurance Regulatory and Development Authority of India (IRDAI) and SEBI’s Primary Market Advisory Committee.
CA. Ranjeet Kumar Agarwal has been passionately representing India and the profession on various international forums and at several global meetings and conferences, striving to position India as a Global Accounting Hub. Currently, he is the Technical Advisor to the ICAI’s Nominee on the IFAC Board, and member on International Panel on Accountancy Education (IPAE) Group of IFAC, besides being a Board member of SAFA (South Asian Federation of Accountants). Also, he represents ICAI on the Integrated Reporting and Connectivity Council (IRCC) and Board meetings of the Pan African Federation of Accountants (PAFA) and ASEAN Federation of Accountants (AFA).
CA. Ranjeet Kumar Agarwal, a graduate from Calcutta University, has attained exceptional heights through his remarkable actions. He now strides forward, assuming the charge of President of ICAI, adorned with his accomplishments and propelled by the vision of manifesting the aspirations encapsulated in India@2047. In this pursuit, he endeavors to further elevate India’s stature on the global stage, envisaging its ascent to becoming an eminent economy, thereby illuminating the world with its brilliance.
Brief Profile – CA. Charanjot Singh Nanda, Vice-President, ICAI (2024-25)
CA. Charanjot Singh Nanda, FCA, New Delhi has been elected as Vice-President, The Institute of Chartered Accountants of India (ICAI), the apex body of the profession of Chartered Accountants in India for the year 2024-25. Academically brilliant, he passed B. Com from M.L.N. College in 1987 and was placed in Kurukshetra University Merit List during all three years. He was also a rank holder in CA Inter Examination and completed his Chartered Accountancy in 1991.
A Fellow Member of ICAI with more than three decades of standing, CA. Charanjot Singh Nanda was elected to the Central Council of ICAI for the first time in 2004 for three consecutive terms and thereafter in 2019.
As Central Council Member of ICAI, he had been the Chairman of the following Committees of the Institute of Chartered Accountants of India.
- Internal Audit Standards Board
- Committee on Management Accounting
- Committee on Internal Audit
- Committee for Members in Industry
- Women Members Empowerment Committee
- Committee for Co-operatives & NPO Sectors
- Committee on Banking, Insurance and Pensions
- Committee on Financial Markets & Investors Protection
- Continuing Professional Education Committee
- Public Relations Committee
- Research Committee
He was also the Chairman of Northern India Regional Council of ICAI for the year 2002-2003.
Being the Central Council member of the ICAI, he has represented the Institute as:
- Member of Quality Review Board, set up by The Government of India.
- Member of SEBI Advisory Committee on Primary Market (2007-2010) & Committee on Mutual Funds (2007-2010) and represented ICAI on SEBI Committee on Disclosures and Accounting Standards (SCODA).
- Member of Expert Committee of SEBI for facilitating ease of doing business and harmonization of the provisions of ICDR and LODR Regulations.
- Convener of the Expert Group Constituted by the Ministry of Corporate Affairs, Government of India on Investor Protection.
- Chairman, Committee on Information Technology of South Asian Federation of Accountants (SAFA)
- Member of the Southern Asian Federation of Accountants (SAFA) on Committee on Professional Accountants in Business (PAIB) and Committee on Improvements in Transparency, Accountability & Governance.
- Member, Associated Chambers of Commerce and Industry of India (ASSOCHAM) National Council on Capital Market
An avid writer and prolific speaker, he has addressed various programmes on matters of professional interest organized by the Institute, Regional Councils, Branches and the Study Circles.
