Raghu was elected at a meeting of the central council of ICAI held on February 12, the apex body of auditors, which is the second-largest accountancy body in the world, said in a statement today.
Raghu, who has been a chartered accountant for more than 23 years, was vice-president of ICAI in FY14.
A native of Bangalore, Raghu cleared the CA exams in 1990 and practises in Bangalore.
Fadnis is a fellow member of ICAI and has been elected to the central council for the fifth consecutive term.
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