ICAI president to head SAFA

Subodh Kumar Agrawal, President of the Institute of Chartered Accountants of India (ICAI), has been appointed as the president of the South Asian Federation of Accountants (SAFA) for the year 2014 w.e.f. today.

He was the SAFA vice president for the year 2013.

Having passionately represented Indian accountancy profession on the international front, Agrawal has earlier been the member of various Committees of SAFA, including Committee for Improvement in Transparency, Accountability and Governance, Committee on Professional Accountants in Business, Committee on Professional Ethics and Independence and Committee on Quality Control.

ICAI nominee has got this coveted position after a gap of eight years.

Shir Arjuna Herath, President, The Institute of Chartered Accountants of Sri Lanka, has been appointed as SAFA vice president for 2014.

SAFA, an Apex Body of SAARC is a forum of professional accountancy bodies in the SAARC Region.

It was formed in the year 1984 and has at present the membership of 10 accounting institutions from India, Bangladesh, Pakistan, Nepal, Sri Lanka and Maldives.

Bhutan and Afghanistan have been given Observer Status. ICAI is one of the founder members of SAFA and also hosts its Permanent Secretariat at New Delhi.