About the Committee
The Professional Development Committee is one of the most important non-standing Committees of the ICAI. Since its establishment in 1962, Professional Development Committee has been making vigorous efforts towards exploring ample opportunities for the members of the Institute in different sectors of the economy. Apart from exploring unchartered territories in the professional development, the Committee strives to strengthen the communication process with multitude of users across the different sections of the society and educate them about the role of Chartered Accountants. With a view to enhance skill sets of Chartered Accountants in the existing and new areas, it also organizes seminars, workshops on contemporary areas of interest.
- To explore and exploit all available and potential opportunities whereby newer avenues for professional development and growth may be assured for the Institute’s members.
- To educate the users on matters affecting the profession.
- To conduct courses, seminars, workshops on various subjects in so far as these relate to the core mission of the Committee.
- To determine the manner and the form in which guidance should be provided to Chartered Accountants in regard to the possible avenues that are developed for them.
- To establish such linkages, including signing of Memoranda of Understanding with such bodies and agencies as may assist in the achievement of the overall mission.
- To improve the communication process with representative bodies of users of the services of the profession so that equal opportunity is given to all members of the professional with due regard to their professional abilities and attributes.
- To consider ways and means to provide specific assistance in improvement of skills and talents of our members (Basically, this will be in the form of recommendations to other Committees of the Institute).
- To ensure that existing opportunities of professional developments are fully utilised and maintained at equitable and growth-oriented levels.
Terms of Reference (ToR)
- To assist the Council in determining and defining the objectives of the accountancy profession and amending or restructuring such objectives in keeping with the increasing or changing duties and responsibilities of the profession.
- To determine the manner and the form in which guidance should be provided to members in regard to professional matters other than those specifically falling within the functions of any other Committee.
- To consider the different ways in which the profession could be of assistance in promoting social or economic goals having regard to the present thinking of the society and its changing expectations.
- To determine what programmes of development should be carried out at the different levels, i.e., the Institute, regional councils and members as such and to lay down targets in this regard.
- To assist the Council in educating public on matters affecting the profession.
- To explore and develop fresh avenues of work for members in public practice.
- To assist the Council in improving the communication process with representative bodies of users of services of the profession.
- To conduct courses, seminars, workshops, etc. on subjects not specifically related to other Committees and also except the All India Conferences of Members.
- To suggest suitable reforms in the statutes regarding Co-operatives and NPOs.
- To promote uniform accounting framework for Co-operatives and NPOs.
- To formulate guidelines for state-wise auditors empanelment to interact with the concerned authorities.
- To promote good governance, best practices and prudent financial management in the Co-operatives and NPO sectors/ mutually aided Co-operative Societies[MACS]/ Self help groups/clusters and federations.
- To promote social audit concept in the NPO and Co-operative Sectors and conduct awareness program for the benefit of the stakeholders.
- To provide technical and governance inputs through training, workshops, resource materials, publications to the management personnel and members of Governance of Co-operatives and NPO Sectors.
- To constitute an award/recognition for corporate social responsibility initiative by any NPO/Co-operatives.
- To support the initiatives of the State and Central government and corporations in this sector.
- To develop necessary technical guides and publications for the benefit of Co-operative banks, Co-thrifts and credit societies and other Co-operatives as a national movement.
- To develop a knowledge portal providing information regarding subsidies and other support received by the NPOs from the State and the Central Government and to promote various government initiatives to implement social welfare schemes of the NPO Sector and facilitate sharing of knowledge regarding Governance, legal compliance and best practices in financial management.
- To help the government in monitoring financial discipline in the NPO sector by prescribing transparent guidelines and procedures including documentation and evidence of actual work done and to advise the government on limitations to be imposed on administrative and other expenditures of the NPOs specially those incurred out of government grants.
- To suggest recommendation on issues related to the Foreign Contributions Regulation Act, 2010, Rules, regulations and guidelines framed there-under and any other laws affecting this sector with a view to ensure smooth flow of funds on one hand and national security and national interest on the other.
- To Conduct Certificate Course on Cooperatives and Not for Profit Organizations
- To deal with such other matters as the Council or the President may consider appropriate.
Secretary to the Committee, Ms. Seema Gerotra