ICAI Abu Dhabi Chapter Hosts Digital Economy Forum Reshaping Global Business Landscape – News

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ICAI members will participate in the World Congress of Accountants held in Mumbai, India from November 18-21, 2022.

Published: Fri, April 1, 2022, 6:18 PM

Last update: Fri 1 April 2022, 18:29

The recent historic agreement signed by the United Arab Emirates and India (CEPA) will provide more business opportunities and take bilateral trade to the next level, said John George, President of the Institute’s Abu Dhabi Chapter of Chartered Accountants of India (ICAI) .

Speaking at the session on digital economy reshaping the global business landscape which was hosted by ICAI Abu Dhabi Chapter at Sofitel, Abu Dhabi on Thursday, George said the chapter acts as a bridge between government and communities business.

He also expressed the Charter’s plan to organize partnership with the Emirati community, support government initiative like Atmanirbhar Bharat and Azadi ka Amrit Mahotsav, organize roadshows and placement campaigns to facilitate opportunities jobs in UAE for Chartered Accountants.

George congratulated the elected committee for the year 2022 and also acknowledged the immense contribution of all the past presidents and all the dedicated members of the committee.

He encouraged ICAI members to attend the World Congress of Accountants being held in Mumbai, India from 18-21 November 2022.

John thanked the Indian Embassy, ​​Sunjay Sudhir, the Indian Ambassador and officials for their cooperation with the Chapter.

Speaking on the occasion, Sudhir explained how India was at the forefront in terms of adoption and a significant contributor to the digital payments growth story. Addressing the forum further, he shared valuable insights on the landmark CEPA agreement signed between the UAE and India and how CEPA and the vision document would help strengthen relations between the two countries. He acknowledged the role of the ICAI Abu Dhabi Chapter in supporting government initiatives and strengthening Indo-Emirati trade relations.

In a keynote address, guest of honor Dr. Debashis Mitra, President of ICAI, spoke about the driving factors of the digital economy, the influence of technology, its challenges and ways to mitigate the challenges. The importance for CAs of retraining to adapt to the coming challenges of the profession and to support and lead the future. He mentions that independence, excellence and integrity are part of the DNA of a CA. Addressing the Chapter in more detail, the President shared various initiatives where ICAI’s efforts were appreciated for providing valuable insights to various government stakeholders.

The digital economy and outlook roundtable was moderated by Renyl Rauf, CFO – Bayanat G42. Panelists included Dr. Debashis Mitra, Michael Armstrong, Strategic Advisor for the Middle East – ICAEW and Sumeet Tank, Director of Finance and Investments, Vigilance Group.

The panel discussed the need for finance professionals to continually adapt and expand their skills to become dynamically digital in the wake of the changing technology landscape. As the use of crypto-assets and complex digital payments emerges, the need for technologically-skilled accountants and auditors to manage risk.

Ramana Kumar, CEO – Magnati explained the evolution of the digital economy and the role of digital payment. The transformation of the digital payments space is accelerating and businesses can now firmly maintain control of business transactions thanks to new technologies. — [email protected]

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