CA Day (July 1): History, Significance, How to Celebrate CA Day?

The 75th CA Day will be celebrated on July 1, 2023, to commemorate the founding of the Institute of Chartered Accountants of India (ICAI). The ICAI is a statutory body that regulates and conducts courses for the profession of Accountancy in India. CA Day is observed by all Chartered Accountants to celebrate the milestones of the ICAI.

The ICAI is the world’s second-largest body of Chartered Accountants and maintains the highest education and ethical standards. Find out more about CA Day, its history, significance, and how it is celebrated across the country here.

Chartered Accountants Day 2023

CA Day is observed annually to mark the establishment of the ICAI, the biggest statutory body overlooking the regulation of Chartered Accountants in India. The Parliament of India established the Chartered Accountants Act, 1949, and subsequently, the ICAI was established. Get an overview of Chartered Accountants Day below.

About ICAI

• The Institute of Chartered Accountants of India, or the ICAI, is a statutory body that the Parliament of India established in 1949 through the Chartered Accountants Act, 1949.
• Every year, CA Day is celebrated to mark the founding of the ICAI.
• The ICAI is one of the oldest bodies that overlooks professional courses in India.
• The first CA certificate ever to be issued by the ICAI was given to CA Gopaldas Padamsey Kapadia, who later went on to become the first ICAI president.

Chartered Accountant Day: History

The history of CA Day can be traced back to 1949 when the Parliament of India established the ICAI. Over the years, this statutory body has become the most prestigious institution for Chartered Accountants in India and the world. Check out the complete history of Chartered Account Day below.

• The Britishers passed the Companies Act, 1913 and directed every business to keep a record book. They also directed an elected auditor to check these books.
• This led to the emergence of the Government Diploma in Accountancy program, a program similar to the modern-day CA courses.
• In 1949, the government of independent India established CA Day after establishing ICAI, the official CA-regulation body in India.

CA Day Significance

Chartered Accountants Day is significant because it highlights the role of a CA in any given firm. A CA is responsible for developing financial statements, tax filing, bookkeeping, etc. CA Day is celebrated in honor of the important job of Chartered Accountants.

• This day is about commemorating the establishment of the ICAI, the important statutory body that regulates the profession of Accountancy in India.
• CA Day raises awareness about the significance of the role of a Chartered Accountant.
• This day encourages people to take up the profession of a CA.

How to Celebrate CA Day?

People celebrated Chartered Accountants Day in many different ways. This day is celebrated primarily to commemorate the ICAI’s establishment and to honor the work of all CAs. Some of the ways to observe CA Day are as follows.

• Send your CA a token of appreciation for their hard work.
• Organize a party on this day to show that you care about the work of Chartered Accountants.
• Spread the word about CA Day on social media, and encourage people to participate in the celebration of this day.

FAQs on CA Day

Q1. When is CA Day celebrated?

CA Day is celebrated annually on July 1 in India to commemorate the establishment of the Institute of Chartered Accountants of India (ICAI). The year 2023 will mark the 75th celebration of CA Day in India. This day also honors the work of all Chartered Accountants.

Q2. Why is CA Day celebrated?

CA Day is celebrated to commemorate the founding of the Institute of Chartered Accountants of India (ICAI) in 1949. The Parliament of India passed the Chartered Accountants Act of 1949. This led to the establishment of the ICAI, and eventually, CA Day, which is celebrated on July 1 annually.

Q3. Who started CA Day?

The Institute of Chartered Accountants of India (ICAI) established CA Day in India. This day is celebrated on July 1 annually. On this day in 1949, the ICAI was officially established as a statutory body. The ICAI regulates the profession of Chartered Accountancy in India.

Q4. Is CA Day celebrated in India?

Yes, CA Day is celebrated in India to mark the establishment of the Institute of Chartered Accountants of India (ICAI) as a statutory body. This is the world’s second-largest body regulating the profession of Chartered Accountancy.

Q5. When was CA Day celebrated for the first time?

CA Day was celebrated 75 years ago for the first time. The Institute of Chartered Accountants of India (ICAI) was established in 1949. Since then, this day has been celebrated every July 1 annually. CA Day is an occasion to honor the efforts of all Chartered Accountants.

Q6. Who was the first CA in India?

CA Gopaldas Padamsey Kapadia was the first CA in India. Kapadia later went on to become the first and longest-serving president of the Institute of Chartered Accountants of India (ICAI) and served from 1949 to 1952.