'If you have original intelligence, AI cannot harm you': ICAI President Nanda on future ...
‘Further CA exam adjustments may come, under NEP curriculum’: ICAI President Nanda on Chartered Accountancy
The profession is dynamic. From GST compliance to international financial reporting, staying abreast of changes is the only way to remain relevant. Our responsibility is to produce chartered accountants who embody the best practices and remain future-ready at all times, he said.
New Delhi, September 14, 2025
Artificial Intelligence, global equivalence of qualifications, and the evolving role of accountants in India and abroad are among the most pressing conversations in the accounting profession today. At the helm of these changes stands the Institute of Chartered Accountants of India (ICAI), dubbed the world’s largest accounting body with an estimated 1.4 million members and students.
In an exclusive conversation with the indianexpress.com, ICAI President CA Charanjot Singh Nanda stressed that future-proofing the profession would mean embracing AI as an enabler, aligning the CA curriculum with the National Education Policy, and expanding global reciprocity of qualifications.
When asked whether the growing relevance of AI and fintech is affecting how chartered accountants work, Nanda offered a perspective that set the tone for the entire conversation.
Is Artificial Intelligence a threat or an enabler for Chartered Accountants?
AI is nothing more than a faithful servant. It is an enabler, not a replacement. The principle is clear: if you have original intelligence, artificial intelligence cannot harm you. We look at AI as a tool that enhances our efficiency rather than diminishes our role.
How is ICAI integrating AI into its curriculum and training?
We cannot remain untouched by the language of business as it evolves. AI has become central to business operations, and we are aligning ourselves accordingly. To ensure our students remain industry-ready, ICAI has introduced training programmes in Artificial Intelligence.
Our flagship programme, Aura, is focused on equipping students with AI skills. Training is being conducted across the country and even internationally, such as in Dubai. These programmes are available at both the Intermediate and Final levels of the CA course. The idea is to create professionals who can serve clients effectively and transition seamlessly into industry roles.
Are there ethical concerns around the use of AI?
Of course, there are nuances and disadvantages of AI that students must understand. But the key lies in harnessing it for our advantage. ICAI has already published a guidance note on the ethical use of AI, ensuring that members and students know how to use the technology responsibly while upholding professional integrity.
How has ICAI aligned its curriculum with the National Education Policy (NEP) 2020?
The NEP has redefined India’s educational framework with a focus on multidisciplinary learning, flexibility, and digital integration. ICAI has aligned its new scheme of education and training with these principles. We are not just producing compliance experts. The goal is to nurture strategic business advisors, ethical leaders, and globally relevant professionals.
The CA course today is more than just a qualification, it is a comprehensive pathway that prepares students for opportunities across borders.
Speaking of global opportunities, what about recognition of Indian CAs abroad?
There is substantial progress on this front. With the UK Free Trade Agreement (FTA), Indian CAs can now take a few additional exams and become members of the Institute of Chartered Accountants of England and Wales (ICAEW).
Similarly, reciprocity agreements exist with bodies like CPA Canada and CPA Australia, allowing our members to qualify with limited additional requirements. In the US, candidates can pursue the CPA, which is also conducted in India. However, full audit practice rights are governed by individual country laws and are based on reciprocity.
Global certifications like CFA or CMA are becoming popular. Do Indian CA students need such additional qualifications?
Our stance is clear, the CA qualification itself is complete in every sense. The curriculum includes three levels — Foundation, Intermediate, and Final — backed by a two-year training program. With such depth and rigor, there is no need for supplementary qualifications
With global markets slowing and compliance requirements rising, what new skills should CA students focus on?
Discipline and technical expertise are paramount. Students must deeply understand subjects and continuously sharpen their skills. ICAI emphasises on the concept of Continuing Professional Education (CPE), for both practicing and non-practicing members, ensuring lifelong learning.
The profession is dynamic. From GST compliance to international financial reporting, staying abreast of changes is the only way to remain relevant. Our responsibility is to produce chartered accountants who embody the best practices and remain future-ready at all times.
ICAI exams are known for their low pass percentage. Why is it so selective?
It is not about incompetence among students. It is about selecting the cream of the crop. ICAI has always believed in producing professionals of the highest caliber. We consider ourselves not only partners in nation building but also in global building.
The rigorous testing ensures that those who qualify possess the intellectual, technical, and ethical strength to serve clients, regulators, and governments effectively.
There is talk about ‘moderation’ in exam marking. How does ICAI ensure fairness?
Moderation is a very misunderstood concept. It is only applied to compensate students when a question paper is too difficult, a mistake appears in the exam, or something unforeseen occurs. If any moderation is given, it is upward and across the board, not limited to a group of students. The objective is fairness, not manipulation of results.
Are there changes expected in exam frequency or format?
Earlier, ICAI exams were conducted twice a year. Today, they are held thrice annually, giving students greater flexibility. With curriculum changes under NEP, further adjustments may come, but for now, thrice-a-year exams are working well.
Given the pressures of the CA journey, how does ICAI support student well-being?
We take student welfare very seriously. ICAI has created a scholarship fund of Rs 500 crore, with annual disbursements of around Rs 40 crore in scholarships, available even to students at the Foundation level.
Beyond financial aid, ICAI runs free classes through the Board of Studies, conducts wellness programs, and organises mental health support sessions across branches in India. We bring in experts to train students not just in academics, but also in resilience, stress management, and career skills. Once a student joins ICAI, we are committed to supporting them at every stage.
Notably, ICAI also announced this year, among its key focus initiatives — a dedicated committee on promoting work-life balance for CAs.
[The Indian Express]
