The Institute of Chartered Accountants of India organised a Cooperative Chintan Shivir to deliberate on strengthening India’s cooperative ecosystem and enhancing the expanding role of Chartered Accountants in supporting the sector’s contribution to national economic development. The initiative was organised through ICAI’s Committee on Commercial Laws Economic Advisory and NPO Cooperative and served as a dedicated platform for in-depth discussions on governance, financial management, compliance, audit and advisory services in cooperatives.
The Chintan Shivir focused on leveraging professional expertise to enhance transparency, accountability and operational efficiency within cooperative institutions. Discussions underscored how structured financial discipline, robust audit mechanisms and advisory support can enable cooperatives to align with evolving regulatory frameworks and national development priorities.
Held under the theme Transforming India Economic Future Through the Expanded Role of Chartered Accountants, the deliberations highlighted the profession’s critical role in helping cooperatives adapt to regulatory changes, strengthen financial systems and adopt best practices consistent with inclusive and sustainable growth.
The programme was inaugurated by Union Cabinet Minister for Environment Forest and Climate Change Bhupender Yadav, Union Minister of State for Cooperation Krishan Pal Gurjar and former Union Minister and Founder Chancellor of Rishihood University Suresh Prabhu. The event was held in the presence of ICAI President Charanjot Singh Nanda and Vice President Prasanna Kumar D. Chairman of the Committee Abhay Chhajed and Vice Chairman Pramod Jain were also present.
Addressing the gathering, Bhupender Yadav emphasised that Chartered Accountants play a vital role in maintaining public trust through transparency, financial discipline and ethical conduct. He noted that empowering cooperatives through professional governance, timely audits, strong financial management and technology-driven systems would ensure greater accountability, preserve economic value within communities and support inclusive and sustainable economic growth.
Krishan Pal Gurjar highlighted that cooperatives are emerging as a major driving force of India’s economic development. He stated that the expertise of Chartered Accountants in governance and financial management can significantly strengthen cooperatives by ensuring transparency and accountability, thereby enabling communities to benefit from inclusive and sustainable development.
Suresh Prabhu underlined the immense potential of the cooperative sector in accelerating India’s socio-economic development. He observed that through discipline, skills and ethical standards, Chartered Accountants can empower cooperatives to deliver tangible benefits to individuals and communities by ensuring transparent and accountable governance.
ICAI President Charanjot Singh Nanda stated that Chartered Accountants are strengthening every sector by upholding ethics and enabling growth. He noted that since 2014, ICAI has played a significant role in empowering the cooperative sector through specialised training programmes, technical guidance, uniform audit frameworks and continuous capacity-building initiatives.
ICAI Vice President Prasanna Kumar D reaffirmed the Institute’s commitment to integrity, professional excellence and public service. He said that by strengthening cooperatives and promoting good governance and financial discipline, ICAI members can make a meaningful contribution to community development across the country.
During the programme, a concept paper focused on empowering India’s cooperative ecosystem was released. The Chintan Shivir concluded with practical recommendations and policy-oriented ideas aimed at making the cooperative sector more robust, transparent and professionally governed, reinforcing its role as a pillar of inclusive economic growth.
