New Icai course to build cadre for low-cost compliance support to small firms
New Delhi, Mar 26, 2026
New Icai president Prasanna Kumar D. said that a 21-member panel, including the self-regulator’s council members and external professionals, are designing the modular course in consultation with the ministry of corporate affairs and the ministry of micro, small and medium enterprises.
The Institute of Chartered Accountants of India (Icai) will have a new accounting course ready for launch by 1 July that will help prepare professionals to deliver cost-competitive services to small businesses, especially in non-metros and small towns, according to its new president Prasanna Kumar D.
Kumar said that a 21-member committee, including the self-regulator’s council members and external professionals, are currently designing the modular course in consultation with the ministry of corporate affairs and the ministry of micro, small and medium enterprises (MSMEs).
“The scheme will be ready for launch by 1 July, designated as the CA Day but the decision to roll out rests with the government,” Kumar told Mint in an interview. The intention to launch such a course was announced by finance minister Nirmala Sitharaman in her budget speech this year.
Chartered Accountants Day is celebrated on 1 July every year to mark the establishment of the Icai in 1949.
Sitharaman said the government will enable professional institutions such as Icai to design short-term courses and practical tools to develop a cadre of ‘corporate mitras’, especially in tier-2 and tier-3 towns. These accredited para-professionals will help small businesses to meet compliance requirements at affordable costs, she said on 1 February.
The course curriculum, duration and eligibility are being worked out, said Kumar. “This course will offer a great employment opportunity for candidates,” Kumar, who took charge as Icai president in February, said.
The corporate mitra framework is expected to play a transformative role in bridging the last-mile compliance gap for MSMEs, said Rajat Mohan, senior partner at chartered accountancy firm AMRG & Associates.
“By deploying trained para-professionals under the aegis of institutions such as the Icai, the initiative will make basic compliance advisory, return filing support, and documentation assistance far more accessible and affordable,” said Mohan.
According to Mohan, this is particularly relevant in cities and towns other than metros where professional reach remains constrained.
“Such support can improve voluntary compliance, reduce errors, and encourage informal businesses to transition into the formal economy,” he said.
Experts also said that for meaningful impact, parallel reforms are essential, especially in simplifying compliance requirements across tax and regulatory laws. Also, threshold-based exemptions and presumptive frameworks should be expanded to minimize compliance intensity for genuinely small businesses, they said.
Kumar said v is now in the process of hiring lawyers, MBAs and chartered accountants to enhance its research capabilities, as it intends to give its research support to central and state governments for simplifying laws. As a pilot project, Icai is currently working on simplifying a few laws of the Andhra Pradesh government dealing with registration of shops and establishments and professional tax. Such support will be extended to others states and the Centre as well, said Kumar.
Kumar pointed out that registration is mandatory for the global networks formed between Indian Icai-registered firms and overseas entities, which will help Indian professional entities to grow. In February, Icai came out with guidelines for setting up such networks, which enable domestic accounting firms to forge tie-ups with global firms.
[Mint]
