By Deepak Arora B.Com. CPA, CGA, CA(INDIA), CS(INDIA)
Chairman- BC chapter of ICAI
The British Columbia Chapter of ICAI is a ‘not for profit organization’ incorporated under the Society Act and established for the Alumni of ICAI (Institute of Chartered Accountants of India). It caters to the new immigrant Chartered Accountants and those already established by providing networking and professional development opportunities across BC. With more than 300 members, the Chapter continues to provide various support services.
On November 17 2018, ICAI has signed the Memorandum of Understanding with the Chartered Professional Accountants of Canada (CPA Canada). This agreement facilitate mutual recognition of each other’s qualification and it plays a vital role as a gateway between the 2 institutes, ICAI and CPABC.
Under this MOU any Indian Chartered Accountant can become CPA of Canada after giving CFE exam.
The Chapter has again won the Best Chapter Award in 2023 from the ICAI India Head office. Winning the best chapter awardfor nine consecutive years in a row is an incredible achievement. To achieve such success, the Chapter has a strong and effective leadership team that sets clear goals and expectations for its members.
As the current Chairman and founding Director of the Chapter, I have been practicing Accounting since 1991 with extensive experience in tax services, auditing, financial consulting, business planning, business evaluation, and management services. After I moved to Canada from India in 2001, our Chapter realized the need for a formal professional network for Indian Chartered Accountants. We’ve been working on this dream project since 2003. In November 2014, the Chapter got its formal standing when the Council of ICAI approved the setting up at its 333rd meeting.
CA Vijay Kumar Gupta, F.C.A., MBA, was instrumental in chapter formation and developing ways to personally connect with the members and provide support at various levels. He has 33 years of experience specializing in Public Private Partnership (PPP) and has worked as a Financial and PPP Specialist on several projects.
The services we offer are:
- Conduct continuing education events
So far, we have facilitated 80 events on taxation, cybersecurity, business and trade promotion between India and Canada, and Annual Gala functions. Post-pandemic, we organized the annual gala function face-to-face in October 2022; and Cultural and social events.
- Professional Development events are facilitated by top industry experts and organizations nationally and internationally, including the Big Four: KPMG, Deloitte, PricewaterhouseCoopers, and Ernst & Young. We conduct webinars to promote business and trade between India and Canada; prepare our members for CPA BC examinations; organize CPA classes; work together for the pathway to CPA Canada designation for new immigrants from India; networking opportunities to land jobs and settle in their adopted country.
- Celebration of key Indian and Canadian national festivals with CPA BC; we work with the Institute of Chartered Accountants of India to resolve issues concerning members’ services; disseminate information via social media, LinkedIn, and other outlets; and our Chapter boasts of strong and Committed Board.
Any individual who is either an Associate or Fellow member of ICAI, a resident in the BC area, of good standing after the appropriate fees in force are paid for the year, can apply for membership. Outside the BC area but within Canada, members of ICAI, who do not have a local Chapter of the ICAI, may join and participate in the activities of the Vancouver Chapter. Only Members in good standing shall have the right to vote and hold office. The Board members are elected every 3 years. The Managing Committee has the right to terminate or expel a member if the Committee is satisfied that the member has been working against the interests of the Chapter/profession, indulging in misconduct, or unlawful activities, as determined by the Committee.
The Chapter’s key contributions have brought Indian accountants settled in BC. ICAI members can get together and help them integrate well. Most ICAI members have obtained CPA designation, well settled, and in turn, they help other ICAI members immigrating to the country or in BC.
The Chapter holds professional development events regularly and has received the Best Chapter Award from its alma mater, the ICAI, since its establishment in 2014.
The Chapter signed a Memorandum of Understanding with the Toronto and San Francisco (USA) Chapters of the Institute of Chartered Accountants of India to facilitate professional development and networking among ICAI members settled in North America.
Under the terms of the MOU, members of one Chapter can attend professional development events of the other chapters for free.
With so many new members bringing in their ideas, the Chapter is getting enriched. Members find buddies for professional exam preparations, lifelong mentors, new immigrants getting to know networking practices, and interview preparation tips from the seniors. The unity of voice and force we get as a recognized organization helps us represent the network to various bodies effectively. It is a highly fulfilling experience to be part of this Chapter.
To know more about chapter activity and contact information, please visit their website: https://icaivancouver.com.