The Chartered Accountant Day or CA Day is celebrated on July 1 every year to celebrate the finding of the Institute of Chartered Accountants of India (ICAI) by the parliament of India in 1949. ICAI is India’s national professional accounting body and also the second biggest accounting organization in the world.
The Institute of Chartered Accountants of India (ICAI) was established on this day in year 1949 under an Act passed in Parliament. Every year on the day of the establishment of the ICAI, CA Day is celebrated to honor the Chartered Accountant.
Every year, on the day of the establishment of the ICAI, National CA Day is celebrated to honor the Chartered Accountants across the nation. A chartered accountant is a profession that gives direction to the financial condition of any country.
While the members of the Institute with less than five years of membership are called Associate Chartered Accountants (ACA), the members with more than five years of membership are called Fellow Chartered Accountants (FCA).
ICAI is the second largest accounting body in the world after American Institute of Public Accountants. Set up by an Act of Parliament, ICAI has a very strict code of ethics. With a symbol of mythical eagle (Garud), its official motto is a quote from the Upanishad which reads, “Ya esha supteshu jagriti”. It translates as “the one who is awake in those that sleep”.