ICAI unveiled its first-of-its-kind Advanced Flagship Program on Family Enterprises: A Game Changer Initiative
17/01/2025
New Delhi: The Institute of Chartered Accountants of India (ICAI) today started its first batch of Advanced Flagship Program, Empowering Trusted Advisors – Unlocking the Potential of Family Enterprises. The first batch, comprising 27 members, is participating in a 5-day residential course at the Centre of Excellence (CoE) in Hyderabad.
The program was inaugurated today by Padma Shri Dr. BVR Mohan Reddy, Founder Chairman and Board Member of Cyient Ltd. as Chief Guest along with along with CA. Ranjeet Kumar Agarwal, ICAI President, CA. Charanjot Singh Nanda, Vice President, ICAI in presence of Central Council Members and Past President, ICAI at Centre of Excellence Hyderabad.
On this occasion Padma Shri Dr. BVR Mohan Reddy, Founder Chairman and Board Member of Cyient Ltd., highlighted the critical role Chartered Accountants play in driving family business success and sustainability. He emphasized on the importance of “trust” as the cornerstone of any family business. He highlighted the stewardship role of family owners, the need for succession planning based on merit and the importance of adapting to evolving technology and a dynamic business environment and urged CAs to equip themselves to support family enterprises effectively.
Speaking at the event, CA. Ranjeet Kumar Agarwal, President, ICAI emphasized, “ This milestone initiative, in the 75th year of ICAI Illustrations journey marks our unwavering commitment to fostering professional excellence and advancing the capabilities of Chartered Accountants in the realm of family businesses. Today in our 75th year, we embark on yet another trans-formative initiative-one that breathes a fresh perspective into our approach aligning with the changes with the dynamic demands of India’s burgeoning economy & society.”
ICAI Vice President CA. Charanjot Singh Nanda added, “ This program is a testament to ICAI’s pursuit of excellence, empowering participants to become indispensable advisors to family businesses, fostering trust, and creating long-term value, while also reflecting ICAI’s steadfast commitment to enhancing the professional capabilities of our members and strengthening the family business ecosystem.”
After the inaugural session, the program featured an engaging session titled Journey of a Family Business: Role of Advisors Along the Way, where Mr. Sunil Reddy Dodla, Managing Director, Dodla Dairy Limited shared his insights. Dodla Dairy Limited, an integrated dairy company headquartered in Hyderabad, India, was established in 1995.
The program features a distinguished lineup of faculty, including industry thought leaders such as Anil Sainani (Managing Partner, BAF Consultants) leading expert in Family Business Governance, Dr. Nupur Pavan Bang (Director cum Dean, CoE Hyderabad) renowned Academic and Thought Leader in Family Business, Gutta Nivedita Chowdary (Training Coordinator, CAMP Arbitration & Mediation Pvt. Ltd.) Trained Diplomats and negotiators at the United Nations and many MNC’s, and Tara Ollapally (Co-founder, CAMP Arbitration and Mediation Practice Pvt. Ltd.) International Lawyer and Mediator, Coordinator for Harvard’s Mediating Disputes course.
This thoughtfully designed initiative of ICAI aims to equip Chartered Accountants with specialized expertise to address the unique needs of family businesses. Participants will gain a deeper understanding of the dynamics of family enterprises, the ability to offer tailored solutions that harmonize family and business objectives, and strategies to position themselves as trusted, long-term advisors. The program highlights would include succession planning, governance frameworks, conflict resolution, growth strategies and fundraising.
