ICAI’s first ever Telugu VP
The Institute of Chartered Accountants of India (ICAI) felicitated Chartered Accountant (CA) M Devaraja Reddy on Sunday for being elected as the vice president of ICAI at the national level. Devaraja who hails from Hyderabad was elected for the post at the ICAI elections held on February 12 at the ICAI head office in New Delhi.
Devaraja Reddy is the first Vice-President from the Telugu speaking states to represent ICAI at the top level of management since its inception. He plans to speak to the Chief Ministers of both Telangana and Andhra Pradesh to set up state-of-the-art branches for Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) felicitated Chartered Accountant (CA) M Devaraja Reddy on Sunday for being elected as the vice president of ICAI at the national level. Devaraja who hails from Hyderabad was elected for the post at the ICAI elections held on February 12 at the ICAI head office in New Delhi. He is the first CA from Telangana to be elected to the position of vice president in the 65 years history of ICAI. As per the custom of ICAI, he will be elevated to the position of president of ICAI in 2016.
Speaking on the occasion Devaraja Reddy said, “The task ahead is arduous but I am determined to make a mark on the Hyderabad branch of the institute during the tenure. The expectations of the government, regulators and public are high and we have to live up to it. Emphasis should be on maintaining ethics and values to retain the respect of the profession.” He wanted the members to attend seminars and workshops to empower themselves with professional knowledge and promised to enhance the quantity and quality of such engagements.
“During my tenure I will lay greater stress on building infrastructure for the institute. In this connection, I will approach chief ministers of both the Telugu states to allot land for building state-of-the-art branches in Hyderabad. I will seek two to three acres land from the government for such facility in Hyderabad.
I will also enhance the number of reading halls in the country from the current 125 to 1,000 in two years time for students. I will introduce new certification courses to meet the ever increasing needs of the industry, this is vital with IFRS becoming mandatory,” he said.
Devaraja added that he will urge governments to introduce double accounting system to boost to research initiatives. “There are tremendous opportunities for the profession in railways, defence sectors, etc. I have spoken to railways to employ CAs to professionalise their accounting. Railway Minister Ramesh Prabhu has evinced interest. I will request the government to allot 50 per cent quota at Commissioner level in IRS for senior CA professionals with 15 to 20 years experience.
Another new initiative I am taking forward is to form groups in state branches to prepare and present pre and post budget recommendations to state governments. This will open avenues for us and help the Government in professionalising its accounting,” he explained.