Dear Professional Colleagues,

Warm Greetings

“Accounting is the art of turning chaos into clarity and confusion into financial wisdom.”

The Chartered Accountancy profession is heading for some big changes this year as emerging technologies and societal trends create new opportunities as well as disruptions. It stands at an inflection point, with several forces shaping its future trajectory. While new technologies like AI, automation, and block chain will disrupt existing audit and tax processes, they will also open up opportunities to add more strategic value. As routine tasks get automated, chartered accountants will have more bandwidth for business insights, advanced analytics, and holistic advisory services tailored to each client’s needs. As for more high-level jobs, AI may help here too. Auditing firms have been finding it hard to retain talent, with 90% of auditors opining that last year it was either somewhat or extremely difficult.

Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform Data Nipper. However, 86% of auditing staff agreed that AI helps cut down on repetitive tasks, and 83% said they’d be more inclined to stay at a company with AI initiatives in place.
“They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output, and the interpretation.

“The bits of their role that it’s taking away are stuff that they weren’t enjoying.”

The member’s activities in May 2024 began with a very memorable tour to Kashmir and Delhi for 6 days, and we visited almost every attraction. We visited the Srinagar Mughal Gardens. Later, we moved to Gulmarg, “the valley of Meadows,” for a day excursion. On arrival at Gulmarg, we proceeded for the Gondola Cable Car Ride up to the 1st phase and then visited India Gate,. Afterwards, we was passed by the President House and Parliament House.Then, we proceeded to visit Qutub Minar. Then we moved to visit Lotus Temple. Built in the shape of a lotus flower in 1986. Also, we visited ICAI Bhawan in Delhi; it was a mesmerising experience for us. Throughout the journey, the weather was good, and we enjoyed the whole trip.

On May 16th (Thursday), a CPE seminar on NRI taxation was conducted at the branch, and the session was taken by CA. G. Rengarajan, Ernakulam.

We also conducted mock tests for CA Foundation students.

As we look ahead to the future, we have engaged the expertise and leveraged the resources and capabilities of partners to help us augment the quality and depth of our programmatic offerings.

“I am immensely grateful for the professional opportunity you’ve provided me. Your trust in my abilities means a lot, and I’m committed to contributing my best to the success of this endeavour.

Thank you for believing in me.”    
         
Jai Hind ! Jai ICAI !

CA Shine P. Joseph 
CHAIRMAN

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