ICAI to have 11 centres of excellence in three years

The Institute of Chartered Accountants of India (ICAI) will have 11 centres of excellence in the next three years and efforts are also being made to make India a global accounting and auditing hub. These Centres of Excellence (CoEs) will also be focusing on specialised areas to help with financial and tax literacy, ICAI President Ranjeet Kumar Agarwal said here on Monday.

The institute is also working on promoting the concept of International Financial Services Centre (IFSC).

Agarwal said the focus is to make the country a global accounting and auditing hub, and the institute will also be organising the World Forum of Accountants (WOFA) in January 2025.


The institute will set up 8 more CoEs in the next three years, he said.

Two CoEs are functioning at Hyderabad and Jaipur while another CoE will be operational in Kolkata from January 2025.

At its CoE in Hyderabad, the first residential programme on 'Empowering Trusted Advisors Unlocking the Potential of Family Enterprises' will be held in January.

Agarwal also said the institute is going in a big way on Artificial Intelligence (AI).

"AI cannot replace CAs but a CA with AI knowledge may replace a CA without AI knowledge," he said and added that one of the CoEs will be focusing on AI as a specialised area.

ICAI has more than 4 lakh members.