ICAI to set up 11 centres of excellence: Talati

New Delhi, Feb 6 (UNI) The Institute of Chartered Accountants of India (ICAI) today announced a Rs 100 crore project under which 11 centres of excellence will be set to impart much-needed managerial and soft skills to chartered accountants (CAs).

Announcing this, newly-elected ICAI President Sunil H Talati in his first interaction with reporters here today said the first centre of excellence would come up at Hyderabad, where land had been acquired for the purpose.

The idea behind the centres of excellence were to train CAs according to changing needs of the growing economy and a fast changing profession.

The building for the Hyderabad centre was expected to be ready by December 2007. The centre would be operational by March 2008, he said.

The other centres were at Noida in the NCR region, Mumbai, Chennai, Kolkata, Kanpur, Ahmedabad, Pune, Jaipur, Chandigarh, Bangalore and Indore.

While 10 of the proposed centres of excellence had been approved, the institute was yet to receive approval for the Indore centre.

Discussions were on with the Indian Institute of Management at Ahmedabad and Kolkata as also foreign institutes to provide faculty to the centres of excellence.

Remarking on the acknowledged talent of Indian CAs, Mr Talati said they were second to none when it comes to being excellent in analysis but they lack in communication and presentation skills.

Delineating his mission statement, the new ICAI president, who took charge yesterday for a one-year period, said his emphasis would be on increasing infrastructure as also setting up the centres of excellence for CAs.

One of his first priorities, Mr Talati said, was to revisit the 10-year mission statement, which was adopted in 2001, so as to ensure it was in tune with the changing times.

Meanwhile, the Union Government has raised the number of members of the Council of ICAI, the apex body of the institute, from 30 to 40 from this year.

Mr Talati said the enlarged body would comprise 8 government nominees against 6 nominees previously. At yesterday's meeting of the council, there were three government nominees. The remaining vacancies would be filled soon.

UNI