President’s Communication

Dear Professional Colleagues,

As we step into the new year 2026, I extend my warm greetings and best wishes to all members and their families. A new year is always an opportunity for reflection, recalibration and renewed commitment. For the profession of Chartered Accountants, this year begins at a time when structural reforms, regulatory evolution and technological acceleration are simultaneously reshaping our professional landscape. The year ahead will demand not only technical excellence, but also adaptability, foresight and unwavering commitment to professional values.

India continues its journey as one of the fastest-growing major economies, driven by infrastructure development, manufacturing expansion, financial sector stability and digital public infrastructure. At the same time, the regulatory ecosystem is evolving to support ease of doing business, transparency and accountability. Regulators, business houses as well as stakeholders have consistently highlighted that this phase of growth places a heightened responsibility on Chartered Accountants not merely as compliance professionals, but as trusted advisors, guardians of governance and enablers of sustainable growth.

Audit and assurance continue to remain at the core of our profession, but their nature is undergoing a fundamental transformation. Regulators are increasingly focused on audit quality, independence, professional skepticism and robust documentation, particularly for listed entities, NBFCs and other public interest entities. The implementation of ISQM 1 and ISQM 2, enhanced peer review mechanisms and regulatory oversight underscore the need for strong firm-level quality control systems. Audits today are no longer checklist-driven exercises; they demand a deep understanding of business risks, internal controls and data integrity.

Technology is reshaping audit methodologies through data analytics, continuous auditing tools and AI-assisted risk assessment. Members must view technology not as a threat, but as an enabler that enhances audit effectiveness while reinforcing professional judgment. Technology and Artificial Intelligence are rapidly transforming professional practice. From audit analytics and tax automation to compliance monitoring and advisory insights, AI tools are becoming integral to service delivery. At the same time, regulators are increasingly focusing on data privacy and cybersecurity, ethical use of AI, and accountability for automated decision-making.

Recent release of India’s AI Governance Guidelines by MeitY represent a pivotal step in shaping the country’s approach to technology and trust. The Government is encouraging AI advancement

while urging organisations to embed accountability, transparency, and human oversight into their systems. The Guidelines will serve as a prompt to scale AI responsibly, guided by strong governance structures, and a human-centric approach.

At CVOCA, our endeavour has been to continuously create platforms that empower members to learn, connect, and grow, while fostering pride in the profession we represent. Technology and AI Study group for members organised its second meeting on “Excel – Power query”, a powerful tool for data analytics. With the vision of embracing technology, our Association’s News & Views repository of last several years is going live on the web blogpost. With the motive of spreading knowledge within our community, the series of Gyan Ganga Publication published its next publication on “New Labour Code” in Kutchi Patrika. Under the aegis of Value Investing Club, Capital Market organised VIC meeting on “ABC to Gen-Z: Rethinking Consumption Analysis”. The Study Circles continue with the usual enthusiasm.

After the grueling Tax Audit and ITR season, it was a perfect time to rejuvenate and bond amongst our members. Membership & Recreation committee organised a family picnic at Ranthambore, Rajasthan where participants enjoyed the bon-homie amongst members and their family amidst the dense forest. Association also organised an auction-based cricket tournament for members where more than 170 participants showcased their cricket skills.

Forthcoming Events at CVOCA:

A though provoking public program has been planned on “Virasat se Vikas tak: Building Business Legacies” for businesses and entrepreneurs on how to carry forward businesses through various generations. Dadar (E) CPE Study Circle has announced a Residential Refresher Course which is hosted by Goa Branch of WIRC. It is proposed to be held on January 9, 10 and 11, 2026 at Club Mahindra – Assonora, Goa. I would like to encourage all members to register and participate for the same. We also continue with the discussion on Sectoral Analysis and Investment strategies under the aegis of Value Investing Club for which forthcoming session is also planned in the month of January. We have planned various other professional/ technical events for members and students for their professional development. So, looking forward for your active participation in forthcoming events.

Thank You,

CA Harsh Dedhia

January 1, 2026