Nihar Jambusaria has been elected as the new President of the Institute of Chartered Accountants of India (ICAI) for 2021-22 wherein he is currently serving for a third consecutive term. In his capacity as President of ICAI, he represents ICAI on the IIRC’s Council and the Board of South Asian Federation of Accountants (SAFA).
A Fellow Chartered Accountant from Mumbai, Nihar qualified as a Chartered Accountant in 1984 and was in practice for nearly 27 years.
He is also Chairman of all Standing Committees including Executive, Finance and Examination Committees, besides being the ex-officio member of all Non-Standing Committees and Editor of ICAI Journal, The Chartered Accountant.
Nihar is Director of ICAI Registered Valuers Organisation (RVO) and also the representative from ICAI RVO on the “Committee to advise on Valuation matters”. He is also Chairman of the ICAI Research wing, ICAI – Accounting Research Foundation and Extensible Business Reporting Language (XBRL) India.
He is a member of the Professional Accountants in Business (PAIB) Advisory Group of International Federation of Accountants (IFAC).
Nihar is a member of committees constituted by the government and regulators relating to policy formation that includes Government Accounting Standards Advisory Board (GASAB) and Audit Advisory Board- both constituted by the C&AG of India. He is also Board Member, Insurance Regulatory & Development Authority (IRDA), Insurance Advisory Committee and Apex Committee of IRDA, and Member of SEBI’s Primary Market Advisory Committee. He has also been nominated on the Review Committee for the B.Com (Hons) and B.Com New Syllabus for all the Universities in the Country by the University Grants Commission (UGC). He was a Member of the e-Commerce Committee formed by the Ministry of Finance and Peer Review Committee of the Central Board of Direct Taxes.
He served as the Chairman of Ind AS Implementation Committee, International Tax Committee and various other important Committees/ Board of ICAI. He has also served as Member of SAFA Committee on Professional Accountants in Business (PAIB). He has also served as Chairman of WIRC of ICAI in 2004-05.
Nihar has been a speaker at national and international forums, addressing more than 900 seminars, conferences so far covering various subjects of professional interest like Direct Tax, Accounting Standards, International Tax and Professional Development.