Growing business complexities, burgeoning knowledge-intensive economy, dynamic regulatory and legal frameworks and protracting stakeholders’ expectations are shaping the landscape of education world. Considering the changing dynamics of the environment, it becomes imperative for the Commerce and Accountancy Education system in India to play a pivotal role in facilitating the pace and momentum of growth.

The Institute of Chartered Accountants of India (ICAI), the premier accounting body in India, well acknowledged globally for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards, organized a one day “Accountancy & Commerce Education Summit –2014-2015” on January 19, 2015 at New Delhi. The Summit was inaugurated by CA. K Raghu, President ICAI and was attended by renowned academicians from all over the country.

CA. K. Raghu said “India is a happening country and the accounting sector has a great role to play in the economy. Existing and emerging challenges in the present system need solution with insights. In the emerging globalized and digital world, it is vital that education should be made available through new and suitable processes of synthesis and transmission.” He further added “Last 10 years was the age of IT revolution but the next decade would be the era of Accounting Revolution. ICAI would soon bring out a new Scheme of Education and Training which would hopefully meet the requirements of the contemporary world.”

The Summit provided an ideal platform to gauge the current state of the commerce and accountancy education in India, to assess the requirements in the industry and find out how far the output produced by the academic institutions meet the requirements of the industry.

CA.Manoj Fadnis, Vice- President, ICAI highlighted the need to build synergy between the University education and the Professional Accountancy Education system so as to utilize the strength of each institution to impart relevant commerce and accountancy education in the country.

The Summit witnessed the presence of many eminent personalities & academicians who shared their words of wisdom & exchanged ideas and ways to align Accountancy and Commerce Education as per the demand of economy.

There were various important sessions which were addressed by renowned experts like CA. Amarjit Chopra, Chairman NACAS and Past President, ICAI; CA.Ved Jain, Past President, ICAI, CA. S B Zaware & CA.M.Devraja Reddy, Central Council Members, ICAI.

The congregation of leading celebrity experts from the esteemed Universities, colleges and other Institutions all over India debated on the issues of commerce and accounting education in the new emerging global environment to ensure that the commerce and accountancy education emerges as stronger as ever.