Pawan writes about the ICAI like accounting bodies strengthens the accountants profession and widens the scope of the members of the Institute in terms of exposure for practicing chartered accountants and approaching for better results.
We understand that The Institute of Chartered Accountants of India (ICAI) has been increasingly focusing to deepen the knowledge thrust of the budding Chartered Accountants on one hand and also on other hand ICAI is trying to enable the members of the Institute (Qualified Chartered Accountants) to get recognitions from other allied Institutes of accounting profession of other countries in an easier way.
As part of such an initiative, we understand that ICAI & ICAEW has recently agreed to recognize each other's degree and Indian Qualified Chartered Accountants would enjoy exemption of papers of ICAEW.
Such a step taken by ICAI and other like accounting bodies further strengthens the profession and also widens the scope of the members of the Institute in terms of exposure for practicing chartered accountants and also in areas of job placements for members not in practice.
This on other hand would also ensure that the students have enough comfort and have the confidence to choose chartered accountancy as their career path. Such flexibilities and enhancements in the options definitely make life easier for students to choose CA as their career path.
We are now moving in an arena of both globalization in economy coupled with globalization in accounting practices. As we move more and more towards building in better transparency in accounting records which is to a larger extent acceptable by different countries having said in the economy of the country, the need to regularly update the knowledge of existing members of the Institute is becoming a necessity. Seminars, classes and other courses are being conducted to help members polish their knowledge base with the current developments so that they could sustain and grow in the competitive and dynamic environment.
We are also seeing moves being taken by ICAI to regularly update its syllabuses like for example: the recent changes in the courses offered for CA – Final and CA – PCC exams to ensure that the students are taught and tested on the recent developments and requirements right from the beginning.
All these measures surely would keep CA as the choice of professionals looking for making their career in accounting profession.
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