Tuesday, November 15, 2011


The Chartered Accountants Profession has grown from strength to strength over last few decades. The backbone of strength of the Chartered Accountants profession is education and training mechanism adopted by the profession which predominantly includes 3 years practical training under
a Chartered Accountant Firm or partly as Industrial Training (Optional). The practical training ensures that the students are trained in actual day-to-day working, business processes, internal control mechanism, financial management, management accounting and preparation of financial statements besides compliance of corporate laws and tax laws in real time situation. An access to CA students of actual affairs of business organizations enable them to understand the theoretical education more effectively and once qualified as a chartered accountant it enable them to effectively and efficiently deliver up to the expectation of the employers/ clients. This approach has created double jeopardy to such students. They are unable to directly understand and bring out solution for professional issues and even for day today routine professional working they find themselves not fully suitable for the job. This results into rejection of such cases of dummy students once they qualified as a less trained
Chartered Accountants by service sector as well as practicing firms of Chartered Accountants as they may not be found themselves suitable for the desired job profile. In a large number of cases this has resulted into reduction of remuneration package for such less trained chartered accountants by 20% to 60% resulting into mental, emotional and financial stress after qualifying as a Chartered Accountant. A failure to undertake practical training seriously results into a permanent loss of confidence, capability and capacity to deliver as per international standard. In certain cases the firms where such articles get registered may not have adequate work to give all round experience to the students and
in such cases a special emphasis on secondment or industrial training will be necessary. The Institute of Chartered Accountants of India need to address the aforesaid issues very effectively and forcefully so as to ensure that all the students undergo the desired level of education and training so that they have adequate opportunities once they qualify and commence their career. This is the responsibility
of all chartered accountants in practice to ensure that dummy training is finished which is a menace to the profession and they should not permit the students to participate in any such activities as it is hampering and adversely impacting their own profession apart from ruining the career of the students. Allowing an articled trainee for doing dummy training is self-suicidal for the entire
profession. The current atmosphere in respect of fresh chartered accountants qualified recently is a clear evidence of mounting risk on the entire profession. The Institute of Chartered Accountants of India need to take adequate action against private coaching classes who are not adhering to time discipline laid down by the Institute. This will require strict disciplining.

It has been noted that off late a large number of students misled by ill considered advices are
concentrating mainly on taking coaching classes and not give adequate attention to their training.


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