ICAI to come out with paper on crypto currency

The Institute of Chartered Accountants of India (ICAI) will come out with a research paper on crypto currency, Debashis Mitra, president of the Institute, told presspersons here on Thursday.

The paper is expected to be ready in a couple of months and it will cover aspects such as accounting, taxation, and technology related to crypto currency.

Mr. Mitra said the Institute revised the CA syllabus once in five or seven years and was in the process of doing so now. Taking into account the National Education Policy (NEP), technology, and international changes, the Institute had come out with a revised syllabus. It would accept comments on the “Proposed Scheme of Education and Training” till July 1 and after getting the government’s approval, implement the revised syllabus, which would probably be from next year. “We want to lay more stress on new technologies such as artificial intelligence and block chain. We want to lay greater stress on ethical standards.. the NEP lays stress on open book and digitalisation and these have been adopted (in the new syllabus). This is to ensure application of mind,” he added.

On the issue of the Central government recommending disciplinary action against Chartered Accountants (CAs) for their alleged role in incorporating Chinese shell companies, Mr. Mitra said the 400 people involved other professionals too. “We have zero tolerance for professional misconduct,” he said. The Institute would hear out those who were said to be involved, and, if guilty, action would be taken on them.

The ICAI would host the 21st World Congress of Accountants in Mumbai this year. The four-day programme would be from November 18 to 21 and about 75 overseas speakers were expected. Delegates would be from 135 countries. “It gives an opportunity to showcase the Institute and India to the world when the country is celebrating 75 years of Independence,” he added.

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Printable version | Aug 15, 2022 4:07:20 am |