ARTIFICIAL Intelligence (AI) poses no threat to the profession of Chartered Accountants (CAs), on the contrary, their opportunities will increase both in India and abroad. If CAs adopt AI and develop the necessary skills, wider opportunities will be available to them in the future, said CA Mangesh Kinare, Vice President of the Institute of Chartered Accountants of India (ICAI). He was interacting with journalists in Nagpur, where he had come for the National Direct Tax Conference organised by the Direct Tax Committee of ICAI. CA Swarupa Vazalwar, Chairperson of the Nagpur Branch of ICAI, along with CA Jiten Saglani, CA Trupti Bhattad, CA Deepak Jethwani, CA Vinod Agrawal, and CA Dinesh Rathi were present at the press conference. Kinare further mentioned that AI will enhance the efficiency of tasks related to the analysis of financial transactions, auditing, and taxation systems. One cannot afford to overlook any technology; progress depends on how effectively CAs choose to utilise it. Kinare emphasised that the role of CAs in finance, auditing, and taxation will remain pivotal, with growing opportunities for them to serve as professionals who provide business solutions. In response to evolving technology, AI is being integrated into the CA curriculum.

 

As the use of AI in data analytics continues to rise, it is essential for students to possess technical knowledge. Furthermore, online programmes such as the Diploma in Information Systems Audit (DISA)—enable CAs to further develop their professional skills. He added that a new curriculum is set to be introduced soon, following consultations with various stakeholders. The ICAI had submitted over 100 recommendations regarding the new direct tax law. Many of these suggestions have been incorporated, resulting in a more streamlined and simplified new law. Similarly, the GST system has also become more accessible and user-friendly than it was previously. However, he noted that professionals and entrepreneurs who do not use modern technology might face difficulties in understanding this system. More than 4.85 lakh CAs are registered with the ICAI, of whom over 1.80 lakh are actively practicing. Currently, more than nine lakh students across the country are pursuing the CA course, he added.