DEBASHIS MITRA TAKES OVER AS PRESIDENT OF INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA.

Why in news?

• Debashis Mitra has been elected as the President of The Institute of Chartered Accountants of India (ICAI) for the year 2022-23.
• Mitra, who is serving his third term in ICAI Council, has been in the accounting profession for more than 34 years. Apart from being a Chartered Accountant, he is also a Cost Accountant and a Company Secretary. He holds a master’s degree in commerce and is also a law graduate as well as a qualified Information Systems Auditor.

About Institute of Chartered Accountants of India

• The Institute of Chartered Accountants of India (ICAI)is the national professional accounting body of India. It was established to regulate the profession of Accountancy.
• It is the only licensing cum regulating body of the financial audit and accountancy profession in India.
• It recommends the accounting standards to be followed by companies in India to National Advisory Committee on Accounting Standards (NACAS).