Page 63 - MASALA Magazine Vol.15 Issue 4 | April - May 2024

s someone more inclined
towards creative fields,
I’ve always had a healthy
appreciation and respect for
those who not only understand,
but thrive in the world of numbers. In the course of getting to know
the Chartered Accountants (CAs) that are part of the Thailand
(Bangkok) Chapter of the Institute of Indian Chartered Accountants
of India (ICAI), I discover that the realm of CAs is in fact even
more vast and complex than I had originally grasped. From basic
money matters, to taxes, budgets, investments, and helping people
make sound financial decisions, they are essential in the everyday
minutiae of businesses and individuals. Moreover, I’m told, Indian PRASAN SIPANI
CAs are valued or even preferred worldwide for their adaptability Chairman, ICAI - Thailand (Bangkok) Chapter
and trustworthiness, with demand for CAs rising exponentially Director, Thai Rayon PLC
worldwide. According to the ICAI database, there are over 375,000
practicing Indian CAs worldwide, 42,000 of whom are working I graduated from St. Xavier’s College, Kolkata and have been
outside India – a testament to the power of the Indian CA ‘brand.’ working with the Aditya Birla Group for 37 years, of which 35 were
spent in Thailand. Having been the Chairman of the Thailand
The ICAI chapter in Bangkok, which was initially established (Bangkok) Chapter of the ICAI since June 2022, I believe the
in 2015 and was revived in 2022, has been doing its part in organisation has provided a forum for CAs in Thailand to connect
supporting ICAI members in Thailand, providing opportunities with each other, engage professionally, and more importantly,
for networking, continuous learning, and community meet-ups to provide support to younger members who have recently started
celebrate Indian festivals and more with ICAI members and their to work in Thailand.
families. “Members can learn from the diverse experiences of the
longer-serving members in Thailand, and utilise their connections The ICAI provides continuous professional education (CPE)
to various professional experts during Chapter events,” I’m told by platforms and collaboration avenues through its global network,
Prasan Sipani, the current Chairman of the Thailand (Bangkok) as Indian CAs are working across countries in various professional
Chapter. “We also work closely with the guidance of the Indian roles. It’s connected me to many such opportunities and talented
Embassy in Bangkok, and serve as a bridge between businesses people, and the benefits are mutual. I have had my share of
in India and their Thai counterparts.” opportunities to participate in ICAI’s global events, participating
in panel discussions and promoting Thailand as an interesting
Deepali Kejriwal, a member of the Management Committee, place to work for Indian CAs, such as in the Global Professional
walked me through some of these other initiatives and their purpose: Accountants Convention in Gujarat, among others. Connections
“One of the keys events that was held in collaboration with the built at that event helped our Indian peers reach out to us and
India Thai Chamber of Commerce (ITCC) on the topic of provided many other opportunities since. Of course, the benefit
investment opportunities for NRIs in India was graced by H.E. Mr. for members also depends on their willingness to spare time for
Nagesh Singh, the Ambassador of India to Thailand, and one of the cause of our alma mater and noble profession.
the key speakers was The Chairman of the Direct Tax Committee
of ICAI India, CA Chandrashekhar V Chitale,” she reveals. “By What strategies has the ICAI implemented to promote the global
bringing together professionals from different backgrounds and recognition of Indian Chartered Accountants as a ‘brand’ in the
experiences, the Bangkok Chapter is creating a rich ecosystem that international market, and what outcomes have these strategies

encourages learning and growth. The speakers, who are experts yielded thus far?
in their respective fields, share their experiences and knowledge, In recent years, the ICAI headquarters have developed global reach
helping members stay updated with the rapidly changing macro- and have collaborated professionally with global accounting bodies.
economic environment globally.” As an example, the Bangkok Chapter has leveraged ICAI’s offices to
build connections with the Institute of Chartered Accountants in
When asked about the importance of the Chapter in helping England and Wales (ICAEW), and the Singapore Accountancy
Indian CAs settle into their new lives in Thailand, she stresses the Commission (SAC). Both these associations are collaborating with
importance of their other community bonding initiatives. “Social the ICAI to extend mutual membership programmes, subject to
events including Diwali festivities, sports days, and blood donations certain compliances.
camps foster social bonding amongst members, and promote
cultural inclusivity on top of the opportunities for professional How do you hope to positively impact the individuals that are
development and networking,” she says. “We believe that our part of the ICAI through your role as Chairman?

Chapter activities are particularly beneficial to younger members New members entering the Thai employment market face
who are new to Thai environment.” cultural and regulatory challenges. The Bangkok Chapter hopes

Masala spoke further to key members of the Management to provide a mentorship forum for such members through its
Committee to hear their insight on the importance of the ICAI members’ professional connections and experience. This can
Thailand (Bangkok) Chapter personally, and for the community provide significant support in helping settle new members in their
as a whole. professional careers in Thailand.

WWW.MASALATHAI.COM | 63