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CA. AMARJIT CHOPRA, CHAIRMAN, ICAI ARF (2010-11)

CA. Amarjit Chopra, a fellow member of The Institute of Chartered Accountants of India (ICAI), with more than three decades of standing, was elected as the President of the Institute of Chartered Accountants of India (ICAI), for the year 2010-11 by the 21st Council on February 12, 2010. He was elected as the Vice-President of the ICAI for the year 2009-2010 by 20th Council on February 5, 2009.

Born in June 1952, did his post-graduation from Delhi University in the year 1973 and qualified as a Chartered Accountant in the year 1975. He was elected to Northern India Regional Council (NIRC) of the Institute of Chartered Accountants of India for two terms i.e. 1985-1988 and 1988-91. He was Chairman, NIRC for the year 1988-89

Currently,he is representing ICAI as the Chairman of all the Standing Committees of the ICAI namely: Executive Committee, Examination Committee, Finance Committee and Disciplinary Committee. He is also, the Chairman of important Non Standing Committees namely; Editorial Board and Vision and Perspective Planning Committee of ICAI.
He is currently representing ICAI on the following significant Committees/Bodies constituted by the Government of India and other regulators:

. Member of Central Direct Taxes Advisory Committee (CDTAC) constituted by the Central Board of Direct Taxes(CBDT), Department of Revenue, Ministry of Finance and Regional Direct Taxes Advisory Committee(RDTAC)

. Member of the National Advisory Committee on Accounting Standards(NACAS) constituted by the Ministry of Corporate Affairs.

. Member of the Audit Advisory Board and the Government Accounting Standards Advisory Board – both constituted by the Comptroller and Auditor General of India(C&AG).

. Member of Audit Board constituted by Comptroller & Auditor General of India for conducting Performance Audit of `Fund Management and Special Purpose Vehicles (SPVs) of Power Finance Corporation and Rural Electrification Ltd.

. Member of Committee on Internal Audit constituted by the Office of Controller General of Accounts, Government of India

. Member on Board of Insurance Regulatory and Development Project Implementation Committee of Ministry of Surface & Road Transport, Task Force for Cost Accounting Standards on Arms Length, Banking and Financial Services Sectional Committee MSD -7, Group initiated by Ministry of Corporate Affairs to review existing Cost Accounting Standards, on the business sub-group on XBRL and the Working Group for addressing implementation issues and formulation of operational guidelines relating to Accounting Standard on Financial Instruments : AS 30 by Banks and Financial institutions & Task force of G20 constituted by the RBI

. Member of Sub-Committee (Audit) of the Board for Financial Supervision of Reserve Bank of India (RBI).

. Member of Advisory Body (Ad-hoc Task Force [ATF]) for finalizing the MOU between Administrative Ministries and the Managements of the PSEs constituted by the Ministry of Heavy Industries and Public Enterprises.

. Member of Committee on Disclosures and Accounting Standards (SCODA) & Advisory Committee on Mutual Funds constituted by Securities & Exchange Board of India (SEBI).

. Member of the Secretarial Standards Board of the Institute of Company Secretaries of India (ICSI)

. Member of India- UK (Indo-UK) Task force on Corporate Affairs and the Task Force of Department of Public Enterprises (DPE), Government of India, to provide professional and technical support to the DPE in the process of finalization of MoU documents

. Member of Governing Body of the National Institute of Public Finance And Policy

. He was nominated to the Consultancy Syndicate and Energy Syndicate of the MOU TASK FORCE for the years 2008-09 and 2009-2010 respectively constituted by the Department of Public Enterprises

He has been actively working alongwith with ICAI’s representatives on the IFAC Board and Developing Nations Committee. Currently he is also Technical Advisor to International Auditing and Assurance Standards Board,IFAC. He has been currently nominated as the Board member of South Asian Federation of Accountants (SAFA), a regional group of IFAC and has been associated with its activities for last 2 –3 years.He has also been nominated as Board member of Confederation of Asian and Pacific Accountants(CAPA).
He has been regularly participating in National Standard Setters(NSS) meetings and being a part of the NSS Group, has been significantly active in the development of national auditing standards, adopting ISA’s and have also been committed towards the achievement of convergence of International and National Standards. During his tenure in the Central Council, he has been the Chairman of the following Committees:

. Accounting Standards Board, Auditing and Assurance Standards Board, and Corporate Laws Committee for two years each.

. Expert Advisory Committee, Financial Reporting Review Board, Committee on Corporate Governance and Committee on Internal Audit for a year each.

He has also been the Vice-Chairman of:

. Electoral Reforms Committee, Ethical Standard Board, Accounting Standards Board, Professional Development Committee in various years

He has also been a member of non-standing committees, namely, Professional Development Committee, Peer Review Board, etc. In his first term as Central Council Member, he was a member of all the three Standing Committees. He was nominated by the Punjab Government on the Committee for fixing the fee for the medical institutions
An avid writer and prolific speaker, he has addressed in more than 1500 programmes on matters of professional interest organized by the Institute, Regional Councils, Branches and the study circles. He has also been actively involved in seminars and conferences organized by various Chambers of Commerce.
He was actively involved in teaching for more than 20 years at Delhi University and is presently a visiting faculty to few Management Institutes. He has delivered lectures in training programmes organized by various banking institutions and C&AG Office.
He was a Central Government nominee on the Board of Bank of Baroda for a period of three years up to October, 2009 wherein he was also the Chairman of the Audit Committee. He is on the Board of various reputed companies including RICO Auto Ltd and First India Insurance Co. Ltd.
His other areas of interest include sports, debate, music, etc.

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