Thursday, November 15, 2012

CA PROFESSION : MAJOR OPPORTUNITIES EMERGING

The profession has seen various initiatives in the recent past, those brought in new avenues and opportunities for the chartered accountants. The profession is getting geared up to re position itself to a higher level; and, besides its regulatory, compliance's and control functions, the Chartered Accountants are now playing a very important  role in strategic management, creation of new businesses, resource raising, sustainable growth, corporate planning, and so on and so forth.

International Recognition

The Central Council of the Institute has been able to finalize Mutual Recognition Agreement with the Institute of Chartered Accountants in England and Wales, Scotland, Australia, Canada, CPA Australia as well as with CGA Canada. The negotiations for mutual recognition with European Union nations are in advanced stages. In respect of recognition with USA and Singapore advanced level discussions are underway and the Central Council of the Institute is in the process of structuring a consensus.
The demand for Indian chartered accountants in various parts of the world is increasing with rapid pace especially in the banking sector, financial services sector, information technology sector as well as in manufacturing sector. The demand for professional services as practicing chartered accountants and business advisers is also very large in various parts of the world. We need to  structure and channelize the international demand to the benefit of all the interested chartered accountants and CA

firms in India.

Opportunities in the field of Finance and Management

The Council of the Institute had launched several new Certificate Courses including Certificate Course in Valuation, Certificate Course in Forex and Treasury Management and derivative and Certificate Course of Masters in Business Finance (MBF), one year course. Another major initiative taken is to develop Leadership Skills among CAs through residential programme.

A significant number of members across India have qualified and benefited from these initiatives. The industry, banks, insurance, service sector both in India and overseas have recognized these initiatives as major successful penetration of Indian chartered accountants as CFOs, upcoming CFOs,
treasury managers, merchant bankers, investment bankers, private equity players, private equity funds and most importantly as part of the top management team as well as the middle management layers.
The chartered accountants both in practice as well as in industry are playing a very important role now as part of the top management team to develop new avenues, ideas, initiatives, plans, projects and build new innovative business models. Chartered Accountants with their Prudence,
Excellence and Integrity are ensuring sustainable growth with new management philosophy - "We create value, Valuations will follow". The advent of this niche area for chartered accountants in practice as well as in industry is poised to grow at a very fast pace, within India and overseas, providing larger demand for Indian chartered accountants as well as substantial increase in the salary
and professional remuneration levels in a very near future.

CA Curriculum

The CA Curriculum has been further strengthened by mandating 2 slots of 15 days each as GMCS course. The inclusion of advanced level IT training up to 250 hours, as a mandatory part of the CA training (in addition to the existing 100 hours), including therein working level knowledge of SAP, Oracle, ERP, Advanced Excel and Data Management Techniques will further strengthen the
capabilities of chartered accountants. These advanced techniques will be offered to the members too.
The CA profession is also actively considering major initiatives of a mandatory 3 months residential/ day scholar course before completing chartered accountancy final examination with a view to achieve a major leap to place Indian chartered accountants in middle management  and top management positions, in India as well as outside India. The profession is actively in touch with top most HR institutions and advisors. The depth of knowledge and commitment to work hard with integrity, efficiency and excellence has been clearly established by chartered accountants. With appropriate positioning of the profession, major opportunities can be taken up fully to the hilt, by the  chartered accountants with a substantial increase in professional earnings as well as major hike in salaries.
The potential for a major leap for chartered accountancy profession is to be fully harnessed by a
visionary effort.

The branding of Indian chartered accountants in India and overseas is to be initiated at the level
of the Institute as well as at the level of all chartered accountants as torch bearers to enable
us to leap into a successful and highly promising era. It is also very important for each chartered accountant to plan and implement positioning at a high level. Let's all Aspire and Accomplish!

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