a) The Institute of Chartered Accountants of India ( ICAI ) has launched the three virtual courses to provide learning online due to the COVID-19 pandemic.
b) In these unprecedented times of COVID-19 outbreak, the novel coronavirus has swept over 190 plus countries putting a serious threat to the entire mankind. A potent solution appears to be social distancing to contain the spread of the virus and we are moving towards a world wherein most of the tasks will be accomplished virtually.
c) The Institute of Chartered Accountants of India (ICAI) has always remained at the forefront for taking technological initiatives and despite all the challenges due to restriction on physical movement, ICAI has initiated various reforms to ensure that the profession is not only having inclusive growth but also ensure that its members & students are kept updated on various professional matters of contemporary relevance.
Atul Kumar Gupta, President, ICAI said “I regard technology as the engine of the modern economy and CA’s workplace. In these times of pandemic, ICAI will put technology to optimum use for efficient delivery of services and betterment of the professional capabilities.
ICAI’s technology-driven initiatives of DCMM, UDIN, and Digital Learning Hub are well recognized, used, and acknowledged by various professional organizations globally, and we will work together to leverage tech-driven innovations to give our profession a winning edge and raise a generation of global professionals.”
d) As Technology has stepped in to play a key role in every sphere, be it education, business etc., ICAI has always harnessed technology for professional excellence. To enhance the knowledge and qualification of its members, ICAI has recently launched important post qualification/certificate courses in Virtual Mode for its members.
e) Certificate Course on Forensic Accounting & Fraud Detection– Forensic Accounting, Fraud Detection & Prevention specialization is in increasing demand considering increasing incidents of cyber-crimes and frauds.
It is the practice of utilizing accounting, auditing, CAATs/ Data Mining Tools, and investigative skills to detect frauds. ICAI conducted Virtual Classes of Certificate Course on Forensic Accounting & Fraud Detection through its Digital Learning Hub http://(https://learning.icai.org)
f) 50 hours Educational Course by ICAI Registered Valuers Organisation – ICAI Registered Valuers Organisation, a section 8 Company formed by ICAI launched its 1st On-Line batch of 50 hours Educational Course from April 26thto May 3rd, 2020 for the Asset Class- Securities or Financial Assets.
The course is designed as per the syllabus prescribed by Insolvency and Bankruptcy Board of India (IBBI) which is a mix of Valuation as well as Law and other related topics which includes topics like heads of income, various laws, macro-economics, financial experience is eligible to become Registered Valuer.
g) Certificate Course on Concurrent Audit of Banks – ICAI through its Internal Audit Standards Board (IASB) conducts Certificate Course on “Concurrent Audit of Banks” to enable members to understand the intricacies of concurrent audit of banks. The overall objective of the course is to supplement the effort of the banks in carrying out internal checks of the transactions and other verifications and compliance with the procedures laid down; to improve the effectiveness of concurrent audit systems in banks and to improve quality and coverage of concurrent audit reports. IASB recently launched a Virtual Certificate Course on Concurrent Audit of Banks.
To provide knowledge at the doorsteps of ICAI members & students Institute launched the Digital Learning Hub in order to provide state-of-the-art online training courses / E-books/ video lectures and other material covering the domain through which members and students can learn and enhance their knowledge.
President, ICAI further added, “The International Federation of Accountants (IFAC), a global organization for the accountancy profession recognizing the online modules in these times of crises; had sought if ICAI could provide this facility globally to all Professional bodies for a limited time and ICAI has offered its voluntary and free support for the professional brethren globally.”
h) ICAI’s endeavour is to ensure that the future Chartered Accountants acquire unmatched proficiency in the accounting domain and are well prepared for future professional lives.