ICAI explores Centre of Excellence in Andhra Pradesh

D Prasanna Kumar, National President of the Institute of Chartered Accountants of India (ICAI), said the institute is exploring plans to establish a dedicated Centre of Excellence (CoE) in Andhra Pradesh.

He said the centre will focus on research and advanced training for students and members. He added that the initiative seeks to strengthen continuous professional education across the profession.

Speaking to The Coastal Times, Mr. Kumar said, “Chartered accountants have long careers. Laws, regulations, and technology change frequently. Regular upskilling is therefore essential. The Centre of Excellence will help members stay updated and future-ready.”

Mr. Kumar said chartered accountants have contributed significantly to major economic reforms. He cited the Companies Act, the Income Tax Act, and the Goods and Services Tax (GST) regime.

“The steady rise in GST and direct tax collections reflects better compliance. Chartered accountants have played a meaningful role in this progress,” he said.

Mr. Kumar said ICAI is aligning its efforts with policy measures announced in the Union Budget 2026–27. He said the institute has formed a committee to support proposed corporate facilitation initiatives, including the Corporate Mitra scheme. The committee will work with the Ministry of Corporate Affairs once the framework is finalised.

Highlighting ICAI’s focus on technology adoption, Mr. Kumar said the institute has constituted a separate committee on artificial intelligence (AI).

More than 50,000 members completed Level 1 AI certification within a year. ICAI recently launched a Level 2 course. Around 2,000 members have completed it,” he said.

Describing AI as a transformative tool, he said it cannot replace professionals. “Professional judgement, scepticism, and ethical oversight remain central. Those who use AI effectively will gain a clear advantage,” he said.