The Institute of Chartered Accountants of India (ICAI) will set up a public advocacy cell that will provide inputs to the Government when a new law or changes to an existing legislation are sought to be implemented. ICAI President Nihar N Jambusaria, who took over the reins this month, on Tuesday also said the institute is seeking help from its overseas chapters to have an understanding about changes required to attract more investments into the country.
Building capacities of the institute’s members in terms of technology, and creating more financial literacy, especially among MSMEs and small enterprises, to curb possible wrong accounting practices are also among the priorities for the institute. These kinds of inputs in terms of practical aspects will be very helpful. Such inputs can help in having aspects of ease of doing business at the stage of enactment of legislations itself. Apart from building capacities of its members on technology, he said the institute will work towards promoting financial and tax literacy.