ICAI Organises National Education Summit on Commerce & Accountancy (NES-CA) 2024

Press Release

• 22-01-2024

Bengaluru, Monday, 22nd January 2024: The Institute of Chartered Accountants of India (ICAI) through its Board of Studies (Academic) is organising a National Education Summit on Commerce & Accountancy (NES-CA) on 22nd & 23rd January 2024 at New Delhi. The NES-CA 2024 aims to synergize University Education with Professional Accountancy Education through an inclusive approach.

Prof. Deepak Kumar Srivastava, Hon'ble Vice Chairman, University Grant Commission, graced the occasion as the Chief Guest. CA. Aniket S. Talati, President, ICAI; CA. Vishal Doshi, Chairman, Board of Studies (Academic), ICAI,  CA. Dayaniwas Sharma, Vice-Chairman, Board of Studies (Academic), ICAI and other delegates were also present in the inaugural session of NES-CA, 2024, which aims to shape the future of commerce education with One India One Commerce Education. ICAI has partnered with the Association of Indian Universities (AIU), and the National Council of Educational Research and Training (NCERT) for this Summit.

Prof. Deepak Kumar Srivastava, while addressing the inaugral session appreciated the institute as one of the few institutions in maintaining the Credibility and Respect throughout. He stated that the thinking process and mind set of chartered accountants is outstanding and can take the nation towards “Viksit Bharat”. He said that ICAI plays a crucial role in promoting financial transparency, accountability, and good governance. With PM Narendra Modi's vision, India is poised to become the third largest economy in the next five years. The last few years have witnessed remarkable growth in India's startup ecosystem.

He further emphasized that the National Education Policy, 2020 advocates a multidisciplinary approach to education, fostering the integrated development of social, physical, intellectual, emotional, and moral capacities. The Institute of Chartered Accountants of India (ICAI) aligns with this vision by providing professional education that enhances intellectual and ethical competencies.

He further stated that UGC is closely working with Higher Educational Institutes (HEIs) and recently issued the guidelines to formulate the premise for integrating skilling into higher education at all levels and for introducing short-term industry-relevant courses (Certificate courses) in the Higher Educational Institutes (HEIs) to bridge the skill gap.

We need to prepare an ecosystem among accounting professionals who are equipped with multiple skills matching with the requirements of global job market. He appreciated the global presence of the ICAI.  He further stated that the accounting professionals have to be proficient in information technologies like artificial intelligence, as also emphasized recently by the Hon’ble Finance Minister Nirmala Sitaraman.

He extended his greetings to the entire ICAI family for the NES-CA 2024 and assured that UGC would provide best cooperation and guidance in making this mission of the ICAI more impactful.

CA. Aniket Sunil Talati, President, ICAI stated that in a nation where students are increasingly drawn towards Commerce education, NES-CA 2024 emerges as a pivotal event in the academic landscape, elevating Commerce education to the forefront. He iterated that ICAiI’s objective is to equip Commerce graduates with the requisite skills needed to navigate the dynamic industry landscape. This summit offers an ideal platform to foster collaboration between academia and the industry, enabling our Commerce graduates to make significant contributions towards India's goal of becoming the third largest economy.

Further he added, “ I am thrilled to witness the transformative collaboration between ICAI and UGC. This partnership has the potential to reshape the entire educational landscape in our country in alignment with the National Education Policy. With initiatives like 'Arambh' under the Board of Studies, we ensure that every student is equipped with fundamental skills to navigate their financial journey. Our mission extends beyond individual success; we aim to address the challenges facing India today and, together, strive to make India an accounting Vishwaguru. I firmly believe, 'Yahi Waqt hai, Sahi Waqt hai' – Now is the time, the right time, for the CA profession to lead the way."

CA. Vishal Doshi, Chairman, BOS (Academic) said, “ICAI launched its new scheme of education and training on 1st July, 2023 and first examination under the said scheme will be in May, 2024. Last year, pursuant to launch of Model Curriculum contained in ICAI Exemplar in the NES-CA 2023, many universities and colleges have incorporated the same in their curriculum.  He apprised that NES-CA 2024 is going to witness the launch of a very important study material titled " आरम्भ – Step towards Financial Independence" – which will educate an individual about the students about the fundamentals of financial planning, banking and credit, understanding financial statements, business organisations, basics of taxation, investment planning and retirement planning.”

CA. Dayaniwas Sharma, Vice Chairman, BoS (A) said “ICAI, as a torchbearer, is committed to build the strongest foundation, to ensure quality education and to reach even remote locations. Chartered Accountants embrace the responsibility of enhancing national knowledge in taxation, accountancy, and auditing. ICAI takes a decisive step to bridge the gap in commerce eduation and standardize the noble profession of Chartered Accountancy."

NES-CA 2024 stands as a beacon for elevating the standards of commerce and accountancy education in India. Contributing towards developing commerce and accountancy education in India, ICAI will extend support to universities and colleges in various aspects, including the development of Commerce Syllabi, Content Development, Online & Recorded Lectures, and Faculty Development Programmes. The summit also emphasized a practical approach, fostering Hands-on Learning to bridge the gap between theory and practice.

Further, the Study Material titled, “आरम्भ: A Step Towards Financial Independence” was launched to enable students to foster financial resilience and enhance their decision making ability.

NES-CA 2023 was successfully hosted last year following which ICAI entered Memorandums of Understanding (MoUs) with 56 institutions like Osmania University, IGNOU, Netaji Subhash Open University, Kolkata, J N Vyas University, Udaipur and Nagpur University and more. Further, ICAI is also entering into Memorandums of Understanding (MoUs) with 11 universities.

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, with over 8.5 lakh students and around 4 lakh members, ICAI is the largest professional accountancy body in the world, with a strong tradition of service to the nation. Today ICAI has a wide network of 5 Regional Councils and 171 Branches in India. It has 48 Overseas Chapters and 33 Representative Offices and presence in 81 cities and 47 Countries around the world.

More than 89 universities and colleges from over 20 states are participating in NES-CA 2024. Further, partnerships have been forged with esteemed institutions such as the Association of Indian Universities (AIU) and the National Council of Educational Research and Training (NCERT). The summit will bring together Vice Chancellors, Deans, Professors, senior academicians, researchers, and scholars to delebrate on standarding commerce and accounting education at Higher Secondary and Undergraduate levels across the country and to explore prospects for commerce graduates in times to come.

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