By Dr. CA Mayur B. Nayak, Editor
November 2022 was an eventful month for our profession, India, and the world. ICAI organized the 21st World Congress of Accountants (WCOA) in partnership with the International Federation of Accountants (IFAC), with the highest number of participants (more than 10,000) from 123 countries and set many records. The WCOA is held every four years and is popularly known as the “Olympics of the Accountancy Profession”.
For the first time in 118 years, WCOA was held in India at Mumbai.
Perhaps, for the first time in the history of our profession, Indian CA firms were allowed to exhibit their services. The Congress was addressed by many luminaries from the Government, Industry and Political Leaders, Investment Advisors, and Professionals. Almost all speakers were upbeat about India.
The theme of the Congress was “Building Trust Enabling Sustainability”. CAs have a major role to play in building trust and ensuring sustainability. We are partners in nation-building and conscience keepers of society. The CA profession is set to scale new heights with the increased role of CAs in policymaking not only at an enterprise level, but also at the national level.
Different stakeholders have different expectations from us as auditors.
It is extremely difficult to meet everyone’s expectations and therefore there is a need for collective responsibility of governance and vigilance by all stakeholders. Often our role of audit and as
