Miles Education hosted “India’s first-ever” public accounting GCC conclave (M-PACT). Credit: Miles Education/PRNewsfoto.

Ed-tech company Miles Education hosted M-PACT, a public accounting global capability centre (GCC) Conclave in India.

Hosted on 7 December 2024, “India’s first-ever” conclave brought together more than 500 participants from the Big 4 accounting firms, public accounting firms, and academia.

The event highlighted India’s growing role in shaping the future of global accounting, showcasing the country’s talent and innovations in the field.

The conclave focused on India’s significance in building a future-ready workforce to lead the global accounting sector, addressing critical issues such as the increasing shortage of accountants in the US.

A panel discussion featured industry leaders including Chung Tham from EY GDS, Vishnu Patwari from BDO RISE, Karthick Venkatakrishnan from Eisner Amper, and Murali Balasubramanian from Sthirah.

The panellists discussed India’s ability to merge global best practices with local capabilities.

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A major topic of discussion was the impact of emerging technologies such as artificial intelligence and advanced analytics on accounting practices.

The event also centred on the critical need for workforce transformation, focusing on strategies to bridge skill gaps and prepare professionals for the evolving demands of a global market.

Academics and industry leaders discussed how stronger collaboration between academia and industry could help create smoother transitions for students entering the workforce.

Miles Education CEO Varun Jain said: “India is at the cusp of revolutionising the global accounting profession. With our unmatched talent pool, technological expertise, and unparalleled work ethic, we are uniquely positioned to lead the transformation of public accounting.

“This is not just about addressing the global shortage of accountants — it’s about redefining the profession, setting new standards, and ensuring that accounting continues to power economies across the world. India’s time to lead is now.”

In a significant development, Miles Education also announced the formation of the Public Accounting GCC Excellence Council.

This forum will bring together GCCs, public accounting firms, and academic institutions to collaborate on strategic initiatives and drive innovation in the field of public accounting.