India's Institute of Chartered Accountants of India (ICAI) is collaborating with the Ministry of Electronics and Information Technology (MeitY) to provide authenticated financial data, such as balance sheets and audit reports, to support the development of India's sovereign AI model and enhance the quality of domestic large language models (LLMs).

The institute is implementing major curriculum reforms, reducing the number of papers at the intermediate and final levels from eight to six, shifting some subjects to online modules, and shortening the articleship period from three to two years with an additional exam prep window.

ICAI is developing a global curriculum to familiarize Indian students with international compliance and regulatory frameworks, starting with syllabus mapping in Mauritius and Ethiopia, to boost their global regulatory understanding.

Starting in 2027, all Chartered Accountancy final exam passers will be designated as 'AI competent,' with the institute considering integrating AI topics into its syllabus to keep pace with technological advancements.

With over four lakh members, ICAI has integrated AI into its activities for automating audits, continuous auditing, and data analytics for fraud detection and risk management, while also working to reduce online and digital frauds by approximately 25%.

India's government aims to have its sovereign AI model ready before the February 2026 AI Impact Summit, with efforts underway to develop indigenous large language models (LLMs) to enhance AI capabilities and combat digital fraud.

This initiative reflects India's strategic focus on developing indigenous AI technology to strengthen its digital and financial infrastructure, leveraging AI for economic and governance improvements.

ICAI is engaging with 10 companies developing India's LLMs, providing publicly disclosed data of listed entities to support their AI development efforts.

The institute is collaborating with law enforcement agencies to utilize financial and economic data from listed companies, aiming to improve large language models and strengthen financial integrity.