How has the role of chartered accountants (CA) changed in India, particularly in terms of competencies and competitiveness?
Over the years, the role of CAs in India has become multi-dimensional in terms of their bouquet of services. Previously, CAs were primarily seen as bookkeepers, accountants, and auditors. However, their role has evolved over the past 75 years to become conscience keepers of the nation. Auditing and accounting for instance, have extended beyond mere financial statements. Chartered accountants now provide assurance in numerous other areas, including income tax, internal audit, management audit, and other parts of a business, like non-financial reporting on sustainability.
As the industry and business landscape have evolved, so has the role of CAs. But one constant remains, CAs continue to be assurance providers, but are . Additionally, CAs are not limited to the role of auditors or assurance providers. Many of them now hold positions within organisations in areas such as accounting, finance, and even hold operational roles. It is not uncommon to find CAs serving as CEOs, CFOs, or other high-level executives.
What new skills or competencies are essential for chartered accountants to stay relevant in today’s dynamic business environment?
When aspiring to enter or upskill in the profession of chartered accountancy, it is crucial to look at the areas that are going to be of significance. Technology plays a vital role in this profession, and it is essential to constantly monitor its advancements and embrace it as an enabler rather than as a disruptor.
The ever-changing nature of technology necessitates keeping up with technological skills. The institute offers various skill enrichment programmes to ensure that both members and students have access to the latest technologies.
Esta historia es de la edición 15 July 2023 de Businessworld India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición 15 July 2023 de Businessworld India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Powerful, Peculiar Perquisites
MOST COMPANIES recognise that people are key to their success. Competition is all about the war for talent. Higher compensations can, in many cases, attract that brilliant leader or the tech genius, but a competitor may well offer even more. This race is financially draining and not really a great strategy.
Shaping The Future Of India's Infrastructure
RUPEN PATEL on the achievements of the engineering and construction major including the iconic projects rendered by it, nation building, focus on sustainable practices and much more
WHY DON'T WE SUE BRITAIN?
I WAS WORKING ON my next column for BW – on one of my favourite themes like ‘Sustainability’, ‘Inclusivity’, ‘India Shining’ etc.
LIFE AND TIMES OF A MEDIA TITAN
DD Purkayastha's autobiography captures his 42-year tryst with the ABP Group, delving into various aspects of his professional and personal experiences, as well as insights into the factors that have shaped his character and career trajectory
THE SONET STRIKES BACK
The sub-4-metre SUV segment in India has been a battlefield for automakers, each vying for supremacy with their unique propositions. With the launch of 2024 Kia Sonet, the South Korean automaker is sharpening its edges in this competitive market
SLEEK, SUBTLE, COMPACT AND EASY TO CARRY
The HP Omen Transcend 14 targets a niche market that is growing day by day. Statistically, never in history, was there a better time to launch a gaming laptop, says Deep Majumdar
Geopolitical Resilience for Indian Companies
It's in crisis that inventiveness is born, as well as discoveries made and great strategies arise. He who overcomes crisis, overcomes himself, without getting overcome. - Albert Einstein
The Sourav Ganguly Era
Lessons in Leadership from Indian Cricket - 2
Leadership Challenges Were Not This Long, Before
LEADING IN TODAY’S dynamic environment presents unprecedented challenges. The list of challenges is never-ending. They include navigating complex decisions, staying resilient, inspiring teams, staying innovative, and continually adapting to the constantly changing ecosystem.
The Supreme Court Emerges as a Net Zero Polestar
'Dharma exists for the welfare of all beings. Hence, that by which the welfare of all living beings is sustained, that for sure is dharma,' - Mahabharata (Shanti Parva 109.10)