Suresh Chandra Mohanty Elected as the New President of ICAI

The Institute of Cost Accountants of India on 23 July 2013 announced that Suresh Chandra Mohanty was elected as the new president of the body. Suresh Chandra Mohanty replaced Rakesh Singh. With this, he became the 56th President of the Institute.

Mohanty was elected for the 2013-14 time period. In the meanwhile, AS Durga was elected as the new Vice-President of ICAI.

About Suresh Chandra Mohanty

• Suresh Chandra Mohanty is the Odisha-based renowned Cost Accountant having graduation degree in Economics and also a degree in Law.
• He is also the Fellow Member of the Institute of Cost Accountants of India (ICAI) and Institute of Valuers (FIV) of India.
• Suresh Chandra Mohanty is the Registered Valuer under the Wealth Tax Act, 1957 and Licensed Surveyor and Loss Assessor.
• He also served as Chairman of the Eastern India Regional Council.
• He has a huge experience in issues associated with standards setting.
• He played a major role in keeping the liaison with crucial regulators, while at the same time, maintaining dialogues with the international standards setters.
• He also represented the Institute in the Accounting & Auditing Committee and Task Force for reviewing the Constitution of South Asian Federation of Accountants (SAFA).
• His major contributions have been towards Cost and Management Accounting (CMA) profession as the Chairman of Cost Audit & Assurance Standards Board (CAASB).

About The Institute of Cost Accountants of India (ICAI)

• The Institute of Cost Accountants of India (ICAI) is the professional management accounting institute of India which was established on 28 May 1959 under the Cost and Works Accountants Act, 1959 enacted by the Parliament of India.
• The Institute was established for regulating the profession of Cost and Management Accountancy in India.
• The governance of the Institute is done by a council which consist of 20 members, out of which 15 are elected from among the members of the Institute and 5 people are nominated by the Government of India.
• The ICAI has over 500000 students as well as over 60000 qualified members, at present.
• ICAI is also the member of the International Federation of Accountants (IFAC), The Confederation of Asian and Pacific Accountants (CAPA) and The South Asian Federation of Accountants (SAFA).