Shri Gopaldas Padamsey Kapadia: Honouring India’s First Chartered Accountant on CA Day

Every year on July 1, India celebrates Chartered Accountant (CA) Day, marking the anniversary of the enactment of the Chartered Accountants Act, 1949, which formally established the Institute of Chartered Accountants of India (ICAI). This day not only recognizes the growth and importance of the CA profession in India but also pays tribute to the pioneering figures who laid its foundation. Among them, Shri Gopaldas Padamsey Kapadia is remembered as India’s first officially recognized Chartered Accountant.

Shri Gopaldas P. Kapadia holds a special place in the country’s accounting history. After the passing of the Chartered Accountants Act, he became the first person to be awarded a membership certificate from ICAI on June 9, 1950. Beyond this title, Kapadia served as the founding president of ICAI from 1949 to 1952. During his leadership, he played a crucial role in building the institute’s reputation, shaping professional standards, and embedding ethics into the core of the accounting profession in India.

Before ICAI’s formation, accounting professionals in India were largely known as “Registered Accountants.” The title was introduced under a government scheme started in 1930. Even earlier, in 1918, the government had launched a Diploma in Accountancy, which served as the first formal recognition of professional accountants. However, the absence of a central regulatory body meant there was little consistency in practice, ethics, and certification.

The creation of ICAI under the 1949 Act brought much-needed structure and credibility. It established a legal and professional framework that transformed accountancy into a respected and regulated profession. Kapadia’s contributions as president helped steer the organization through its formative years, ensuring it laid down clear standards and codes of conduct that would guide future generations.

Kapadia’s influence continues to resonate today. The ICAI honours top CA candidates each year with the G.P. Kapadia Gold Medal, keeping alive the memory of his pioneering work and dedication to excellence.

Chartered Accountant Day serves as a reminder of the journey of the profession—from its early days when accountancy lacked formal regulation to its present status as a highly respected and vital pillar of India’s financial system. Today, ICAI boasts over 400,000 members, and its role in ensuring financial transparency, corporate governance, and economic stability remains indispensable.