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06 June 2007 | 
I have added news alerts "Accountancy News" on MA blog about the happenings in Accountancy World so that the readers of MA blog are up-to-date with happenings. I was browsing the contents of what happened earlier and was surprised to notice ICAI doubles annual membership fees for practising CA.
ICAI President Sunil Talati said, the move is in line with the rising membership of the institute which called for developing its infrastructure, requiring huge investment.
This quite true. You will notice that ICAI is in news every other day and they want to take on all the practise assignments on the earth. You may notice ICAI has been trying to tie up with the institutes abroad or shown a commitment they want to grow internationally.
I am sure that practising members would be happy to contribute by way of increased fees since it is active step towards development. This strong base will help them grow more in long run.
You may notice the hits on ICAI website ... 13 million !!! and lot of contents for everyone in the profession.
Kudos ICAI.... Keep growing.
Regards,
Santosh Puthran
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4 comments:
The Bottomline is that ICAI has PAN galaxy Ambition probably one should not be amazed if one day Talati(President) comes in news saying that Only CAs can phathom the depth of the galaxy and claim for audit of deep penetration exploration to certify if really water or living creatures are available in inter-galaxial or inter-stellar celestial bodies they may also one day claim that Death of an organism(individual is a narrow term)though declared by the doctor is highly clinical and unacceptable to an economy and hence CA skills should be utilized to declare a person dead.and Internationally since no other institute in the world is well equipped(ill equipped)on ceritifying such events which ahs economic impact(insurance money on their eyes to slice).They may go a step further to disband IFAC or bring its headquarters(head-cut to quarter) in its HO.
Kudos to Business and its community and hope the democracy realises this fact soon that the profile of the institute can speak of its intention(tripple bottomline or trouble in the bottom line)
This news in Business line would all the more be wonderful and more so when edited by the current person.
Other professionals are a mourning lot. They have to take on other areas. What ICAI is doing is commendable and they are protecting the practise areas. It is a different question that it is a monopoly. This is an area that has highlighted upon. ICAI is like a Microsoft of Accounting profession in India.
Unless an until other professions become like "Google" in the industry, they will not have a chance. Monopoly has to be dismantled thru' legal means so that general public is protected from the profession.
The point to stress on is ICAI is not complacent because of being a monopoly (remember Doordarshan in its monopoly years). But adapting to new changes !!!
First of all ICAI is not a private enterprise to be hijacked by a particular group.
Second as a corollary it cannot be accepted by the society as MS/Google.
Third Monopoly status achieved through legal means can be dismantled so but that which has core illegality cannot be uprooted with legal weapons.
Our institute should work harder no doubt or second thought on that but it doesnt bestow benefit of doubt to ICAI.
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