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The Institute of Chartered Accountants of India (ICAI) inaugurates the World Forum of Accountants (WOFA) in New Delhi. The three-day mega convention happening at Yashobhoomi was inaugurated pby Shri Rajnath Singh, Hon’ble Minister of Defence in the presence of Mr. Jean Bouquot, President, International Federation of Accountants (IFAC). Also present was ICAI’s leadership, CA. Ranjeet Kumar Agarwal, President, ICAI; CA. Charanjot Singh Nanda, Vice President, ICAI; CA. Aniket Sunil Talati, Immediate Past Presidents, and CA. (Dr.) Debashis Mitra, Past Presidents along with Central and Regional Council Members.
Addressing the gathering, Shri Rajnath Singh emphasized the critical role of financial professionals in fostering economic resilience, transparency, and governance. He said, “Your contribution goes beyond corporate boardrooms and plays a crucial role in India's development. In times when trusting family and siblings is difficult, millions of people trust Chartered Accountants for their competence. Family may not always trust each other, but they trust Chartered Accountants for their integrity and competence.
He acknowledged the CA community’s role in guiding businesses, ensuring compliance, and supporting national policies. Highlighting the theme of WOFA “Accountability Meets Innovation (AI): For A Sustainable Planet” he stressed that the technological revolution and global economic shifts demand new skills, including critical thinking, adaptability and emotional intelligence.
He further added “For CAs, a signature is not just a symbol—it represents trust, integrity, and professionalism. Your work influences financial decisions, shapes businesses, and impacts millions of lives,"
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On this occasion, addressing the delegates CA. Ranjeet Kumar Agarwal, President, ICAI said “The theme of WOFA deeply resonates with the challenges of the modern world, highlighting the pivotal role of accountants in navigating the evolving landscapes of artificial intelligence (AI) and environmental responsibility. From Zero-Day Accounting to Zero Carbon Emissions, Chartered Accountants have a bigger responsibility and thus should be future ready embracing emerging technologies while upholding trust and accountability.”
Giving the vote of thanks CA. Charanjot Singh Nanda, Vice-President, ICAI said “Chartered Accountants are the financial soldiers of this country, who are working tirelessly towards economic prosperity of the nation. We are committed to making India a superpower of the world and soon we will do it. WOFA 2025 will be a platform for innovation, sustainability and global collaboration that will shape the future of accountancy.
The inaugural session was followed by a Special Session on Building Resilient Markets for Future Growth addressed by Ms. Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India (SEBI). Ms. Madhabi Puri Buch during the address outlined key strategies required for financial stability and sustainable economic development. She said, “The three elements—technology, trust, and customization are the foundation for a secure, efficient, and investor-friendly financial market."
This was followed by a session on India’s Banking sector and the Rise of Digital Economy addressed by Shri Challa Sreenivasulu Setty, Chairman, State Bank of India. Shri Challa Sreenivasulu Setty, Chairman, State Bank of India, provided valuable perspectives on the transformation of the banking sector in the digital era. He said, “as digital disruption reshapes the financial sector, accountability and innovation must go hand in hand to build a sustainable future. The banking and accounting industries are undergoing a profound transformation, driven by artificial intelligence and digitalization. Chartered Accountants, as guardians of financial integrity, play a pivotal role in maintaining trust and transparency. Their assurance function is evolving in tandem with AI advancements, which automate routine tasks and unlock deeper financial insights."
The day ended with Keynote Address by Mr. Malcolm Bacchus, President, Institute of Chartered Accountants in England and Wales (ICAEW) on Integrating ESG Metrics into Financial Statements for fostering Sustainable Economic Growth along with a panel discussion on The Future of Accounting and Finance. The latter session, led by an expert panel- Mr. Chris Freeland, Chief Executive Officer, CPA Australia; Ms. Pamela Steer, President and CEO, CPA Canada; Ms. Alta Prinsloo, CEO, Pan African Federation of Accountants; Mr. Jamal Fakhro, Eminent Speaker, Bahrain- discussed the evolving trends in the accounting profession and how the same could be used navigate today’s dynamic financial landscape.
The prestigious event brought together leaders, policymakers and financial and industry experts to discuss key issues shaping India's economic future and contribute towards the Global Financial stability.
About ICAI
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With around 9.85 lakh students and over 4 lakh members, today ICAI is the largest professional accountancy body in the world. ICAI has a wide network of 5 Regional Councils and 177 Branches within India and a global presence with 52 Overseas Chapters and 29 Representative Offices spanning 81 cities across 47 Countries worldwide.
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