CA DAY 01ST July 1949

The Institute of Chartered of India was established by an act of parliament on 01st July 1949. Today we completed 71 years. The Government of India passed the Chartered Accountant Act 1949 even before India became a republic. Under 3 of the Companies Act 2013, ICAI is established as a body corporate with perpetual succession and a common seal.

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Created By Admin Last Updated Wed, 01-Jul-2020

CA DAY 01ST July 1949

The Institute of Chartered of India was established by an act of parliament on 01st July 1949. Today we completed 71 years. The Government of India passed the Chartered Accountant Act 1949 even before India became a republic. Under 3 of the Companies Act 2013, ICAI is established as a body corporate with perpetual succession and a common seal.

CA DAY:- Background

Companies Act, 1913 passed in pre-independent India various prescribed books that had to be maintained by Company registered under that Act. Appointment of Auditor with prescribed qualification to audit books and records need a certificate from Government Diploma in Accountancy which was launched in Bombay 1918. 

It was decided in 1930 that the Government of India should maintain a register called the Register of Accountants. The register kept all records of auditors. Later on, Board called the Indian Accountancy Board on the advice of Governor-General of India on accountancy and the qualifications of Auditors.

Just after Independence, 1947 in the year 1948 expert committee was formed for creating a separate autonomous association of accountant. Hence, under section 3 of the said Act, ICAI is established as a body corporate with perpetual succession and a common seal.

CA Day:- Conclusion

Hence, 01st July every year is celebrated in India as CA Day. With this, we conclude with the objective to spread awareness, knowledge and enhance CA day awareness among young energetic students to clear the exam and boost confidence, spread professional attitude and awareness among already passed Chartered Accountants of India, and lastly salute to this historically strong and powerful Institute of India.