News Summary

• ICAI is preparing to embed artificial intelligence, data analytics and other subjects in its curriculum.
• Small and medium chartered accountant firms are not able to participate in large auditing works as they do not have the forensic audit capabilities.
• The accountancy profession has witnessed a major transformation with the increasing focus on non-financial reporting, ESG disclosures, and forensic auditing.
• The Institute of Chartered Accountants of India (ICAI) has more than five lakh members, including small and medium practitioners.