TLDR: The Institute of Chartered Accountants of India (ICAI) is developing and will soon provide artificial intelligence (AI) tools to its professionals to conduct more precise and efficient internal and statutory audits. This initiative, announced by ICAI President Charanjot Singh Nanda, aims to leverage AI for extracting critical information from vast datasets and identifying financial irregularities, while emphasizing that AI will serve as an enabler rather than a replacement for human intelligence.
New Delhi – The Institute of Chartered Accountants of India (ICAI) is set to revolutionize the auditing landscape by equipping its chartered accountants (CAs) with sophisticated artificial intelligence (AI) tools. This significant development was announced by ICAI President Charanjot Singh Nanda, who stated that these tools are being designed to facilitate sharper and more efficient internal and statutory audits across the profession.
According to Nanda, the AI tools will empower CAs to extract desired information from voluminous financial data, enabling them to identify financial stress, potential fraud, and other specific audit requirements with greater accuracy and speed. He clarified the institute’s stance on AI, asserting that ‘AI cannot replace natural intelligence, but will work as a faithful servant to professionals.’ This perspective underscores ICAI’s commitment to integrating technology as an enhancing factor rather than a substitute for human expertise.
The ICAI has been proactive in preparing its members for the technological shift. The institute has already launched structured certificate training programs in AI and plans to incorporate AI into the CA curriculum starting from 2027. As of July 2025, over 500 AI training sessions have been conducted, successfully training approximately 25,000 CAs nationwide. Furthermore, a certificate course on artificial intelligence launched on July 1, 2024, has seen more than 16,000 professionals complete it, with over 30,000 more awaiting enrollment. The ICAI also aims to train an additional 15,000 chartered accountants in artificial intelligence, highlighting the importance of adopting technology.
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Prasanna Kumar D, Vice-President of ICAI, echoed Nanda’s sentiments, emphasizing that AI has become an inseparable part of the accounting profession and that there is no alternative to adapting to it. He also addressed concerns about job displacement, stating that AI is expected to create over 1.25 crore jobs in the future, presenting a wealth of opportunities for those who adapt and upskill. This strategic integration of AI is poised to make Indian chartered accountants more technologically adept and future-ready, transforming accounting, audit, tax, and governance practices.
