CA Day or National Chartered Accountant Day is celebrated on July 1, annually in India. CA Day 2020 marks the 50th Foundation Day of Institute of Chartered Accountants on India (ICAI). On July 1, 1949, ICAI was established; thus, this day is celebrated as CA Day. In India, ICAI is the one and only licensed body, which is founded for the regulation of financial audit and accountancy profession. It is also the second-largest professional accounting & finance body with total headcounts of around 2.5 lakhs members. Here are some CA Day images you can send to your Chartered Accountant friends or share on social media.
CA Day is celebrated on June 1st as in 1949, an act of Parliament gave birth to the Institute of Chartered Accountants of India (ICAI). When back in 1930, the then Indian government decided to maintain a register of accountants. Even though they had strict bodies and keen practices, the accountancy profession remained unregulated. However, then an expert committee created in 1948 suggested that an independent body should be formed, for enhanced regulation.
This led to the formation of the Institute of Chartered Accountants of India (ICAI). The Chartered Accounts Act was passed in 1949 and the term Chartered Accountant became the preferred title instead of the previously used Registered Accountant. Since then, July 1 has been commemorated as the ICAI Foundation Day or CA Day in India.
On CA Day, Institute of Chartered Accountants of India (ICAI) honours the Chartered Accountants across the nation. A chartered accountant is a profession that gives direction to the financial condition of any country. Every business has CAs and has its own way to celebrate CA Day. Some of them conduct some activities for CA’s of their organisation. Some also take care of their clients by launching commission offers while conducting awareness projects, parties, donation activities, etc in their office premises.