ICAI Launches Advanced Program for Family Enterprises
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The Institute of Chartered Accountants of India (ICAI) has launched its first advanced flagship residential program, Advanced Flagship Program: Empowering Trusted Advisors – Unlocking the Potential of Family Enterprises. The program will start from January 7, 2024, and end on January 11, 2024, at the ICAI Centre of Excellence in Hyderabad. This pioneering initiative is aimed at equipping chartered accountants with specialized skills to address the unique challenges of family enterprises, including succession planning, governance, and conflict resolution.
Helmed by Nupur Pavan Bang, the Centre’s director-cum-dean, the five-day programme is the first of its kind under ICAI’s framework and marks a significant step towards enhancing the professional capabilities of its members. The initiative is part of ICAI’s larger vision to establish 11 Centres of Excellence across India. Currently, three centres are operational in Hyderabad, Jaipur, and Kolkata, with the remaining eight slated for launch within the next three years.
The program will be able to take 50 participants on a first-come, first-serve basis. The program is experiential learning, and the participants will be exposed to real case studies, simulations, and group activities in order to get a deeper understanding of family enterprises. The curriculum spans over five thematic days, with its core areas including understanding a family enterprise, nurturing the next generation, succession, governance, conflict resolution, growth strategies, and the structuring of ownership. Each day will be focused on expert speakers who, through their extensive experience and knowledge, can help dissect the complexities of family business.
Candidates interested in the program can apply through the website of ICAI. Applications will be screened before final selection to ensure only eligible candidates are selected for the program. The fee for the program is ₹50,000 plus 18% GST, inclusive of accommodation at the residential block of the Centre of Excellence and food arrangements. Based on the assessment of this first batch, ICAI intends to make further batches available to keep pace with the increasing interest in such specialized training.
This initiative is also supported by ICAI’s technological advancements. The institute has unveiled CA-GPT, an AI-powered tool designed to provide its members and students with access to ICAI’s vast repository of resources. Unlike generic AI tools, CA-GPT draws exclusively from ICAI’s internal database, offering comprehensive access to study materials, question banks, books, and company information. This innovative tool is expected to enhance the learning and research experience for members and students, reinforcing ICAI’s commitment to integrating technology into education and professional development.
The introduction of the advanced flagship programme and the CA-GPT tool underscores ICAI’s proactive approach in addressing the evolving needs of the accounting profession. Combining experiential learning with cutting-edge technology, the institute will empower its members to become trusted advisors in family enterprises, an important sector that forms a critical component of India’s economy. Through such initiatives, ICAI continues to set benchmarks in professional education and development, reaffirming its role as a global leader in the field of chartered accountancy.
