CA Recognition & Opportunities

One hundred and Five Indian Universities, Seven Indian Institutes of Management, IIT Madras and IIT Bombay recognise Chartered Accountancy Qualification as equivalent to Post Graduation for admitting CA students to the Doctoral Programme.

CA Professional Course and Qualification is conducted and awarded by Institute of Chartered Accountants of India (ICAI), New Delhi, an independent Statutory Body, under Ministry of Corporate of Affairs, Government of India. It has been established on 01 July 1949 by an act of our Parliament to regulate the Accounting and Auditing Profession in our Country.

A Qualified CA with 3 years of experience either in Self Practice or related Job is eligible to enrol in PhD/Research Studies in 105 Universities approved by UGC, IIT Chennai, IIT Mumbai and all IIMs; besides, also eligible for ACCA Qualification with the EXEMPTION of 9 Papers (F1 to F9) and 3 years of Practical Training and may join directly at STRATEGIC PROFESSIONAL LEVEL (FINAL LEVEL), which has only 4 Papers; by clearing the same, an Indian Chartered Accountant could also become an ACCA Member and can have Global Exploring both in Practice and employment anywhere in the World.

Chartered Accountancy is a profession that imparts the best of technical skills in accounting, auditing, taxation, financial and management areas. Chartered Accountants today, have occupied top management positions in public as well as private sectors. They also render professional and consultancy/advisory services in the areas of financial reporting and auditing, taxation, finance, and management accounting.

The Institute of Chartered Accountants of India (ICAI) has entered into Memorandum of Understanding (MOU) with IGNOU for pursuing Graduate/Post Graduate Courses with appropriate exemptions from appearing in the paper/s.

A student who has passed Final examination of the Institute of Chartered Accountants of India has been recognized for recruitment to Superior services / Posts under the Central Government. Accordingly, candidates possessing this qualification are eligible for admission to the Civil Services Examination, which is conducted by the UPSC for recruitment to IAS, IPS and other Group 'A' / Group 'B' Central Services / Posts.

Globalisation has had a positive impact and opened new avenues for the country to establish its distinctive position in the knowledge world. The accelerated economic growth within the country has also increased the demand for skilled and competent human resource.

As practitioners of public accounting, CAs may start professional practice as a proprietor or join any existing firm as a partner or staff member. A CA has been entrusted with substantial responsibility under various legislations such as compulsory audit of the accounts of all companies, banks, cooperative societies, stock brokers, big income-tax Assessee, large bank borrowers, etc . A Chartered Accountant also provides compilation and review services as and when required by enterprises. While practicing as an independent professional, a CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports, helping the business to secure loans, preparing financial projections showing how the loans will be repaid, and determining the viability of business. As a tax advisor, CA helps business and individuals to comply with tax laws and represent his clients before government agencies.

Today, the Indian Chartered Accountancy qualification is well recognised in many countries as Indian CAs are taking up attractive global careers. Indian CAs are highly sought because of their skill sets and high quality of education. The opportunities are simply ever increasing. Today, huge opportunities are available for professionals with specialized knowledge and skills sought by global organizations. These include areas of globally accepted financial reporting (IFRS), national and international taxation, finance and corporate law. The knowledge of local laws and regulations, of course, places Chartered Accountants in a stronger position to supply services to global organizations entering the Indian Market. Professional Opportunities for Chartered Accountant as a Global Accountant Knowledge of Ind AS / IFRSs will benefit the Chartered Accountants in a way that they will be able to cater their services as experts in the area of financial reporting in different parts of the world. They would be able to scan the financial statements of multi-nationals and avert probable frauds. Also, for chartered accountants in industry as well as in practice, their mobility to work in different parts of the world would increase. Further, Ind AS / IFRS requires valuation of assets and liabilities at fair values. For the purpose of fair valuation, our industry will require Valuers. Therefore, our CAs may also venture into this new area of valuation by becoming Valuers. Certain industries like Banking and Insurance are most affected by the implementation of Ind AS. CAs will have plethora of opportunities to render their services on application of Ind AS to these industries.

Appointment of Chartered Accountants as auditors is mandatory under the Companies Act, 2013, therefore, knowledge gained in auditing subject would be helpful to him while conducting statutory audit of Companies for example listed Companies, Private Ltd. Companies, Government Companies, Banks etc. Under Income Tax Act 1961, Tax Audit is also statutorily required to be conducted by Chartered Accountants, education of Auditing would be imperative to conduct such audits. Moreover, Internal Audit is also made obligatory for certain class of Companies.

CAs can help in undertaking impact analysis of GST for various industries, manufacturers, traders, service providers etc. Services of CAs would be most sought for ensuring smooth transition to new tax regime as transition phase would be the time wherein maximum doubts/issues are expected to arise. GST Laws provide for audit by professionals. CAs, being the audit specialists, may explore the avenue of audit of financial statements under GST. They may also render other assurance services for GST like analysing internal controls, compliance audit, assistance in departmental audits, entrepreneurial consultancy etc. CAs can impart training on GST to businesses to make them understand GST functionality. They can also assist in the training programmes organised by the Government for their officials. In addition to the opportunities in-house, implementation of GST might also bring in professional opportunities at a global level as GST is one of the most widely implemented tax world-wide. Knowledge of GST will help in decoding tax regimen of other countries thus enabling CAs to provide advisory services and undertaking work in the area of knowledge process outsourcing. Further, CAs may also provide capacity building services across the globe to other countries who intend to implement GST in their countries.

As a management consultant CA can also identify, evaluate and recommend ways to increase revenue and reduce operating costs, analyse operations and suggest changes in structure and individual responsibilities, conduct special studies, prepare recommendations, plans and programs, and provide advice and technical assistance in their implementation.

A Chartered Accountant may prefer to join an industry or government organization and hold responsible positions. Chartered Accountants are responsible for developing, analysing and reporting on information needed for business decisions. They also evaluate the financial effects of management's actions. A Chartered Accountant may also take up the job of an educator at a university / college level. Many Chartered Accountants hold responsible positions in business or industrial firms as CEOs, Managing Directors, Director (Finance) and Chief Accountants.

A Chartered Accountant may climb up to the rank of Comptroller & Auditor General Of India, who is equivalent to the Justice of Supreme Court of India. There are many Chartered Accountants who are adoring as Cabinet Ministers at Central Government, appointed as Chairperson of Nationalised and Private Banks, Board Members of RBI and so on.