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Thursday, 3 January 2013

Chartered Accountants in India



Chartered Accountants in India

Chartered Accountants are industrious and intelligent beings. If you find yourself industrious as well as intelligent, you are perhaps the right person to go for it. All the countries have their own Accountancy Association which regulates the quality and quantity of these professionals. In India it is the Institute of Chartered Accountants of India (ICAI) which does the job of regulating the profession of Charted Accountancy. It was set up under the Chartered Accountancy Act of 1949.

Career in CA gives you a high platform for dealing with big corporate houses. Chartered accounting career is a highly sought after career course for long time now and with the increase in the business volumes, their importance has realized new heights. Those who come out successful in PE-1, (Professional Examination) PE-2 and Final along with completion of two and half years of practical training and a 15 days course on General Management and Communication skills are eligible to apply for the membership of Institute of Chartered Accountants of India. A chartered Accountant holds prestige in the society and earns handsomely.

Courses in Chartered Accountancy


The courses offered in Chartered Accountancy are a blend of theoretical education and practical training. The theoretical part includes the passing of PE-1 PE-2 and Final part. Students are also expected to go through a two and a half years of practical training and 15 days course on General management and Communication skills.

It is essential for the candidates to register with the Institute of Chartered Accountants of India to appear for the examination. The minimum period for each level of study is 10 months. Exams are held twice a year.

Who is a Chartered Accountant?


On successful completion of these courses one can apply for membership to the Institute of Chartered Accountants of India. The Accountant becomes chartered only after acquiring its membership. A Chartered Accountant is a privileged one over the ordinary ones.

CA as Career option



There is no dearth of jobs for Chartered Accountants. After acquiring the membership one can either choose to do public practice or join any organization at the public sector or private sector. Career option for a chartered accountant is therefore varied.
  • General Practice: The Institute of Chartered Accountants of India predicts that audit and standard taxation services would soon be replaced by growing opportunities on relationship based services. The Chartered Accountants are required to assess the risks of the companies designing control system to counter those risks.
  • New Assurance and performance measurement services
  • Change management: This includes making changes at the ownership, structural and operational levels.
  • Stakeholder value creation
  • Strategic management
  • Finance: The expertise of Chartered Accountants are in high demand in financial administration, Capital markets and international
  • financial regulation
  • Financial Reporting
  • Tax compliance
  • Tax Advice and Planning
  • Corporate Finance
  • Insolvency and corporate Recovery
  • Management consultancy.

Eligibility for CA courses

: For PE-1: A candidate appearing for the 10+2 exam can provisionally register for this exam. The minimum study period is ten months. He or she is supposed to get regularized after passing the 10+2 exam.

For PE-2: Candidate needs to pass either the PE-1 or Foundation course to acquire an eligibility certificate for both the groups from the Board of studies.

For Final: The candidate is required to pass the PE-2 or Intermediate exam. He or she should also compete the practical training of two and half years. In addition, to that the candidate must also acquire an eligibility certificate from the board of Studies.

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