ICAI Strengthens the Fight Against Financial Fraud Through Strategic National Collaborations
- Join hands with institution under the Ministry of Home Affairs towards empowering India’s Financial Investigators
- New strategic alliance to develop tech-driven forensic and cybersecurity education
In a decisive step towards enhancing India’s capabilities in combating financial fraud and cybercrime, the Institute of Chartered Accountants of India (ICAI) has entered into an Memorandum of Understanding (MoU) with Rashtriya Raksha University (RRU), Gandhinagar—a premier institution under the Ministry of Home Affairs dedicated to national security and policing education.
The MoU with RRU paves the way for co-developing cutting-edge educational content, joint certifications and workshops in areas like Forensic Accounting, Cybersecurity, Systems Audit, Blockchain, Big Data and Robotic Process Automation (RPA). This collaboration marks a significant expansion of ICAI’s role in forensic accounting and financial investigation and positions India at the forefront of global efforts to tackle complex economic crimes through knowledge-sharing and skill development.
The MoU was formally signed in the presence of CA. Charanjot Singh Nanda, President, ICAI; CA. Dayaniwas Sharma, Chairman, Digital Accounting and Assurance Board (DAAB), ICAI; CA. Arpit Kabra, Vice-Chairman, DAAB, ICAI; CA. Purushottom Khandelwal, Central Council Member, ICAI and Dr. Mahesh A. Tripathi, Director (I/c) & Associate Professor, RRU.
On this occasion, CA. Charanjot Singh Nanda, President, ICAI, highlighted the global relevance of the collaboration and said “ICAI is proud to be the first and only accounting body in the world to issue Forensic Accounting and Investigation Standards (FAIS), providing benchmark for professionals conducting Forensic Accounting and Investigation engagements, thereby enhancing the quality and credibility of their work. This partnership is a step toward equipping professionals with the knowledge and tools required to tackle financial fraud and cyber threats effectively.”
He further emphasized as a trusted partner-in-nation building, ICAI is committed towards strengthening Systems Audit, Cyber Security, Financial Literacy and other Technological initiatives for the benefit of members and stakeholders. He also lauded RRU’s cutting-edge contributions in cyber security and Systems security education.
During the MoU signing ceremony, Prof. (Dr.) Bimal N. Patel, Vice Chancellor, RRU emphasized on the strategic importance of creating a tech-savvy, financially literate investigative workforce and said “This partnership brings together ICAI’s financial expertise and RRU’s security-oriented academic prowess to strengthen India’s investigative and enforcement capabilities. The collaboration aligns with the Union Finance Minister’s vision of capacity-building in financial crime prevention, expressed during her recent visit to RRU.”
Further, ICAI has also renewed its MoU with the National Forensic Sciences University (NFSU), another premier institution under the Ministry of Home Affairs. These dual partnerships reinforce ICAI’s commitment to develop a robust national ecosystem for forensic investigation and financial crime detection.
With its extensive reach, ICAI plans to offer specialized training to enforcement and regulatory agencies such as the CID, CBI, EOW, SFIO and members of the judiciary. These training programs will cover interpreting financial statements, spotting financial red flags, and understanding accounting frameworks—enhancing the investigative depth of key decision-makers.
To date, ICAI has trained and certified over 35,000 Chartered Accountants in the domain of Information Systems Audit (ISA) and 15,000 in Forensic Accounting. The institute now aims to further this impact with advanced new offerings like DISA Plus and the Diploma in Forensic Investigation.
“Collaboration fuels innovation,” remarked CA. Dayaniwas Sharma, Chairman, DAAB, ICAI. “Through this partnership, we are creating transformative learning opportunities at the intersection of finance, emerging technologies, and national security.”
The institutions will also engage in joint research, publications and international outreach, bringing Indian expertise in forensic finance to a global audience.
With these strategic alliances, ICAI is setting the stage for a cross-disciplinary framework that integrates financial acumen, forensic accounting, and cyber security—contributing to national security and public trust.
By uniting ICAI’s financial leadership with RRU’s enforcement education and NFSU’s forensic excellence, India is poised to become a global hub for innovation in financial crime prevention and investigation.
About ICAI
The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With over 14 Lakh Members and Students, today ICAI is the largest professional accountancy body in the world. ICAI has a wide network of 5 Regional Councils and 177 Branches within India and a global presence with 52 Overseas Chapters and 33 Representative Offices spanning 85 cities across 47 Countries worldwide.
Read More Updates on ICAI
