Chartered Accountant Day 2025 is observed annually on July 1. This day honours the founding of the Institute of Chartered Accountants (ICAI). This year’s Chartered Accountant Day celebrates its 76th year, as the ICAI remains India’s most respected financial and accounting body.
The Institute of Chartered Accountants of India exerts considerable influence as India’s single body controlling accounting and financial auditing. All the institutions involved in accounting and finance, including the National Financial Reporting Authority (NFRA), are required to follow the National Financial Reporting Authority (NFRA), are required to follow the ICAI’s accounting standards.
Chartered Accountants Day has a long history, which dates back to 1949, when the Institute of Chartered Accountants of India (ICAI) was established by the Parliament of India. As the official authority, the ICAI has a vital responsibility in regulating and governing the Chartered Accountancy profession in India. Over the years, the ICAI has had a considerable impact on India’s accounting and financial scene. The Institute of Chartered Accountants of India is the world’s second-largest accounting body, with over 3.5 lakh members.
Which course to pursue to become a Chartered Accountant?
A chartered accountant is a person who has qualified through a series of rigid qualifications and exams to become a member of a recognised accounting body or institution. They are involved in a variety of activities, including reviewing financial statements, providing advice, tax planning, and assisting organisations and businesses with financial compliance and management.
To become a Chartered Accountant, an aspirant has to go through three stages of a well-structured process, which is as follows:-
- Foundation Stage
- Intermediate Stage
- Final Stage
An aspiring candidate should choose the Commerce stream in class 12th, as it is the best fit for aspiring Chartered Accountants, as it involves disciplines like Economics, Accountancy, and Business Studies that help in preparation for the CA course. A candidate can also opt for pursuing their career in the field of Chartered Accountancy after completing their Bachelor of Commerce degree from a recognised university.
Below is the list of top colleges in India, both government and private colleges that offer admission to their B.Com (Bachelor of Commerce) courses:-
| Colleges Name |
| Hindu College, University of Delhi |
| Sri Venkateshwara College |
There are various specialisations offered in the Bachelor of Commerce (B.Com) field by the colleges offering this across India. Below is the list of some of the specialisations offered under the Bachelor of Commerce program:-
|
Also, check these articles:-
Once the aspirant has completed their B.Com degree, they can apply for the CA Intermediate course. The Institute of Chartered Accountants of India (ICAI), India's governing body for CAs, is in charge of registrations. A graduate or a postgraduate in the commerce field who has secured a minimum of 55% marks in their graduation exams is eligible to register for the intermediate course. The CA Intermediate course takes an exam for subjects in groups of 2 as follows:-
| Group I | Group II |
| Advanced Accounting | |
| Taxation | Auditing and Ethics |
| Corporate and Other Laws | |
| Cost and Management Accounting |
After completing the Intermediate exams, the candidate must complete a necessary training called Arileship. Articleship will have a candidate intern at a CA firm for a set period, and once the training is complete, the candidate can enroll for the CA Final course.
Also, check these articles:-
Qualifications Required to Become a Chartered Accountant
Once an aspirant qualifies for class 12th with the Commerce stream, they can directly register themselves for the ICAI CA Foundational Courses and then move forward with the other stages after completing the mandatory requirements. If a candidate has graduated from a recognised university with a B.Com degree with a minimum of 55% marks secured can register for the CA intermediate course offered by the ICAI.
Listed below are some of the qualifications that are required to become a Chartered Accountant in India:-
|
Also, check these articles:-