The initiative is designed to provide CAs with knowledge to cater to the requirements of family businesses. Credit: Iryna Rahalskaya/Shutterstock.

The Institute of Chartered Accountants of India (ICAI) has launched the first of its advanced flagship programme titled “Empowering Trusted Advisors – Unlocking the Potential of Family Enterprises.” 

The programme was inaugurated by technology company Cyient founder and board member Dr. BVR Mohan Reddy, alongside other dignitaries. 

During the inauguration, Dr. Reddy talked about the role of chartered accountants (CA) in the success and longevity of family businesses.  

He stressed the meaning of “trust” as a foundational element and called for attention to the stewardship of family owners, merit-based succession planning, and the necessity for adaptation to technological advancements and changing business landscapes.  

Dr. Reddy encouraged CAs to enhance their skills to serve family enterprises effectively. 

ICAI president Ranjeet Kumar Agarwal said: “This milestone initiative, in the 75th year of ICAI Illustrations journey marks our unwavering commitment to fostering professional excellence and advancing the capabilities of Chartered Accountants in the realm of family businesses.” 

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ICAI vice president Charanjot Singh Nanda said: “This program is a testament to ICAI’s pursuit of excellence, empowering participants to become indispensable advisors to family businesses, fostering trust, and creating long-term value, while also reflecting ICAI’s steadfast commitment to enhancing the professional capabilities of our members and strengthening the family business ecosystem.” 

The programme’s curriculum includes a session titled “Journey of a Family Business: Role of Advisors Along the Way.” 

The faculty for the programme comprises industry leaders such as BAF Consultants managing partner Anil Sainani, Centre of Excellence Hyderabad director cum dean Dr. Nupur Pavan Bang, and more. 

This initiative by the ICAI will allow participants to learn about family enterprise dynamics, develop customised solutions to align family and business goals, and strategise to become trusted, long-term advisors.  

Key areas of focus will include succession planning, governance frameworks, conflict resolution, growth strategies, and fundraising. 

The launch of this programme follows closely on the heels of the ICAI’s submission of comprehensive suggestions for the review of the Income-tax Act, 1961.