The Institute of Chartered Accountants of India (ICAI) is trying hard to get more professionals into practise. “At present more than 80 per cent of chartered accountants are employed with some company or the other. Very few opt to take up practice. But the opportunities are opening up and we foresee a huge shortage of practising professionals,” Mr G. Ramasamy, Vice-President, ICAI said.

To get more candidates take up the CA programme, the institute is planning to conduct the CPT (Common Proficiency Test) exam every month.

“It will be an online exam. The candidates can go to the respective centre and do the exam and get the result almost immediately. Once he/she clears the CPT exam, they can register for article-ship and take up the intermediate and final exams.’

This will enable more candidates to take the CA course. The institute has tied up with Bharathiar University here to offer a programme for students.

The institute is also gearing up to reorient the examination system to test the application skills of the students. “CA students have always been good in theory. But there is huge demand for intelligent candidates and those capable of applying their knowledge efficiently. We have therefore planned to reorient the current examination system and correct the balance by emphasising more on practical application skills,” he said.

Further, to hone the skills and mould them into excellent professionals, the institute is planning to put in place regular classroom teaching at all important places under the aegis of Board of Studies. These classes would provide complete guidance and enable personal interaction between teachers and students. Applicability skills would be a thrust area and the study material revised accordingly.

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0 responses to “ICAI sees huge shortage of practising Chartered Accountants”

  1. CA Nikhil Sharma says:

    I totally agree with the majority.
    If something can be done and Fresher CA willing to practise are given a nominal work and sure basic earning, the entire structure will change and a huge number of Chartered Accountants will enter into Practise.
    Wish our President think the same.

  2. CA RAM AVTAR SHARMA says:

    There is should be systematice and partial system of allocation of work and remmuneration bitween practising member. And regarding there should be pool system for this. as client should deposit fees in the common account so a standard of fees can be maintained.

  3. pulkit says:

    sir,i think transfer ban is to be removed as after earning money from  job and secure hisfinancial position he can shift back to apractice

  4. RAJESH CHANDER GUPTA says:

    Refix and monitor present limit of 45 Tax Audits. Club all audit and inspection functions of PSU and redistribute the work among members in a reasonable and proper manner. Articles should get training in three different firms for better exposure i.e. their should compulsory transfer after one year and rules should not made to protect big firms but should be made to ensure equal and fair distribution of work. Creating big brands with multiple partnerships should be banned. And branch audits of big companies must be given to local small firms having no relations with statutory auditors.Audit of other revenue streams like excise, vat, tds service tax etc should be introduced. Spread the work not only among all members but also spread the work through out the year and do not concentrate the entire work in small part of the year.

  5. sameer says:

    For ensuring that all cals will get work 
    There should be rotation of auditor after every 3 years compulsarily and same audit firm should not audit the same company for atleat next 25 years 

    So that everyone will get equal chance

    Also icai should ensure that minimum recommended fees are collected by the members

    Any firm charging less fees should be punished

    Ca relative of prop. / partner / director should not audit the company

    Concept of doing single work / assignment / audit in partnership should be introduced 
    Means two ca coming together only for single assignments and working together 

    They may be prop. but for doing big audit they come together

  6. RUPESH SURVE says:

    IF INSTITUTE will not pass more ca next 10 years. then majority of practitioner(old age) will be getting retired.and the responsibility of running profession in country will suddenly fall on shoulders of fresh CAs having little experience. . . that will make a danger to profession as whole

  7. DEPRIVED says:

    HI, EVERY ONE, THE PRESIDENT IS VERY RIGHT IN HIS BELIEF THAT THERE IS ACCUTE SHORTAGE OF CA IN PRACTICE BUT HE MAY BE THINKING THAT THE PRACTICE ALSO INCLUDE THE PRACTICE OF CARPENTER, WELDER, RICKSHAW DRIVER, PEUN ETC AS HE MIGHT BE WANTING THERE SHOULD BE CA EVERY WHERE YOU GO, EVEN AT THE CORNER OF THE STREET, THE STD BOOTH SHOULD ALSO BE OWNED BY A CA. THE IDEA OF MR.
    PRESIDENT IS VERY GOOD.

    ON SOME DAY GOD WILL DEFINITELY GIVE HIM SENSE AS WE THE SMALL PRACTITIONER ARE TOTALLY DEPENDENT ON GOD.

  8. CA VISHAL says:

    I really cant stop laughing on the dolorous condition of ICAI. Why does the institute president and its team think that increasing the students will solve problems. There are ample number of practitioners who are under undisguised unemployment(wearing masks of practitioners). Talking about corruption in CA practice I just want to say that its not the mistake of CAs or ICAI but our system has itself become like that. Without bribing none of the work can be completed asap. So to survive one has to adopt these corrupt means and those who become adept in this art not only survives but also thrives. The ICAI should instead learn a lot of lessons from the CFA Institute(USA). I have been with that Institute as well for quite a time now and it has impressed me beyond imagination. It does not run after students to undergo articleship but it says that if students adopt deceitful ways for articleship/training(dummy types) they will themselves suffer in the long run so they are risking their own lives by doing that. Their Professional Ethics is not taught in the final level of exams but rather they have made it a continous process(fix 10% in all levels). They test students on concepts they learn so unlike CA no one can pass exam by mugging up sections or laws or points(rattafication really doesn’t help in long run, its like eating and vomiting text book concepts for exams). But our dearest ICAI instead of learning so many lessons from CFA(USA) thinks that it is its biggest enemy (ICAI has even bought one standard in professional ethics against CFAs). Only because ICAI has got powers under statute its enjoying today else it would have been ruined itself y now the way its doing its operations. Anyways we as a member of CA fraternity should become part of ICAI and should uphold the name where ever possible from our side…

  9. Krishna says:

    Hi

    Many views are expressed above, by some of my friends who want minimum work from ICAI. But we should understand one point if given a choice of treatement from a doctor of five years experience and nil experience we would go for experienced one. Similary ICAI doest want to loose its credibility by handing over great reponsibilty involved in signing the audit reports to a freshly quyalified CAs.

    ICAI should instead concetrating on the growth of members should concentrate on continuty of CA firms by making mandatory to form LLP instead of individuals.Thereby the next generation joins an LLP and that person dont take pains for 5-8 year to establish a new firm.

    This is a good idea to fill in the gap currently enjoyed b Big 4. They enjoy continuty in mid set of clients. They really show their expertise in the field by way of collective power of group of CAs.

    We can end the era of Powerful Big4s by creating a large number of Indian LLP’s.

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