Dubai's ICAI Convention Announces Expansion Of Chartered Accountants And Digital Transformation Plans

The UAE Government plans to introduce new regulations soon, aimed at expanding chartered accountants' roles and driving digital transformation in accounting and auditing. This announcement was made to nearly 3,200 members of the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI) during its 43rd Annual Convention, themed 'Udaan,’ meaning 'Flight’.

By the end of August 2025, the number of registered Chartered Accountants had increased to 1,103 from 871 in 2024. Simultaneously, accounting firms grew to 396, indicating a broader market and rising demand for accounting and auditing services. This expansion aligns with the UAE's efforts to fortify its tax infrastructure.

Abdullah Saleh Al Hammadi, Director of the Auditors Department at the Ministry of Economy and Tourism, stated to ICAI members, "As the world shifts to the digital space with Artificial Intelligence playing a greater role, we want the accounting and auditing profession also to evolve with time. We will soon issue a new set of regulations in the next few months that will widen the role of chartered accountants and accelerate the digital transformation of the accounting and auditing practices in the UAE."

He also mentioned that upcoming regulations would incorporate Environment, Sustainability, and Governance (ESG) reporting guidelines. "In the new regulations, we will be including guidelines for Environment, Sustainability and Governance (ESG) reporting that is becoming increasingly important in the coming years. In this regard, I'm sure ICAI members will play a great role in implementing those into their practice," Al Hammadi added.

ICAI Dubai Chapter stands out as the largest overseas chapter, boasting nearly 3,200 registered members. These professionals significantly contribute to the UAE economy, helping businesses navigate the volatile global economy through their strict professionalism.

ICAI ranks as the world's second-largest professional body of chartered accountants, with over 850,000 students and approximately 415,000 members. The organisation's extensive network includes 5 regional councils, 175 branches, 50 overseas chapters, and 31 representative offices worldwide. Among the 50 overseas chapters, the ICAI Dubai Chapter is the largest and most vibrant.

Shashi Tharoor, a member of the Indian Parliament, emphasised the critical role chartered accountants play in today's fluctuating global economy during his keynote speech. "Trust is not merely an idea. It is discipline. Your role is not merely limited to numbers. In reality, your role is that of the moral architecture of the global economy," Tharoor articulated.

In 2025, the UAE introduced substantial reforms under Federal Decree-Law No. 41 of 2023 to strengthen auditing regulations. This was done to enhance financial transparency and align the profession with global standards. The law mandates that all auditors must be licensed and registered with the Ministry of Economy, ensuring a regulated and standardized auditing environment. Adherence to international standards like IFRS is now a requirement, ensuring credible global financial reporting.

The two-day convention featured speeches from various celebrities, including Bollywood personalities Sonali Bendre and Gulshan Grover, sports stars Sania Mirza and Sreeshanth, and motivational speakers like Vivek Bindra. Over 1,500 chartered accountants attended the event.

CA Jai Prakash Agarwal, Chairman of the ICAI Dubai Chapter, remarked, "This is the Year of Growth for ICAI Dubai Chapter and the core mission of Udaan is twofold: empowering dreams and elevating the future through concerted action and ethical leadership. The mission calls upon professionals to dream boldly, nurture those dreams, and transform aspirations into reality through confidence and purpose."

Vice Chairman Rishi Chawla, Secretary Amit Khaitan, and Treasurer Aashna Mulgaonkar contributed significantly by sharing insights and motivational addresses, ensuring the Udaan vision reached beyond chapter members to the wider UAE audience.

Established in 1982, the ICAI Dubai Chapter has experienced remarkable growth in membership recently, now boasting over 3,000 members representing more than 1,550 multinationals and other companies. Among the 8,000 Indian Chartered Accountants in the UAE's private sector, 1,400 hold senior leadership roles, demonstrating the chapter's influence and reach.