Shri Subodh Kumar Agrawal, President, 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 Vice-President of SAFA for the year 2013.

Having passionately represented Indian accountancy profession on the international front, Shri Subodh Kumar 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 Vice-President of SAFA for the year 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.

Appointment of professional body president strengthens regional accountancy leadership and coordination across SAARC member institutes. ICAI nominee assumed the SAFA presidency effective on the announcement date, having been SAFA Vice President previously and served on SAFA committees on transparency, accountability and governance, professional accountants in business, professional ethics and independence, and quality control; this appointment follows an eight year gap for ICAI. The Institute of Chartered Accountants of Sri Lanka was appointed SAFA Vice President. SAFA is the SAARC regional forum of professional accountancy bodies with ten member institutions and observer states, and ICAI hosts its Permanent Secretariat.