Inauguration of the hundredth branch of ICAI (Institute of Chartered Accountants of India) in Jabalpur has taken place on 30 .9 .2004. The CA profession plays an important part in the well being of the financial sector of the economy as it is charged with the work of statutory audits in India.
The inaguration was done by the Speaker M .P .Legislative Assembly in the presence of ICAI Chairman Mr. Sunil Goyal. With the inauguration of the country’s hundredth branch in Jabalpur, the city has made its presence in the financial map of India. First time CA Sub Regional conference was also organised in Jabalpur in which about 200 representatives participated.
For the Institute building ICAI has requested the Govt. for land which has been assured by the Speaker to be taken at the Govt. level. Sunil Goyal said that for better financial control double entry system should be adopted and future expenditure accounting is also essential. This is expected to create a huge opportunity in the service sector in near future for the CAs in the conversion of the govt. accounts into double entry system. Moreover this would gradually bring in more transparency and accountability in the financial administration of the country.
He said when in 1949 CA Act was passed; there were only 1500 CA in India and now there are 122000 CA in India and 250000 students are preparing for it.
Indian Chartered Accountancy is of world standard and is respected world over. The account examinations of many leading European organisations is being done by Indian CAs. For such high recognition in world, Code of ethics for CAs adopted in 1949 has the main role.
So, Jabalpur finally is getting noticed as an important city, and opening of the ICAI branch indicates this development - one step forward for the city.