The Counseling session was conducted by CA Kishore Peshori, Principal, MMK College, Mumbai. Past president of ICAI, CA Nihar Jambusaria graced the event as the chief guest.
The Western India Regional Council (WIRC) of The Institute of Chartered Accountants of India (ICAI) organized a Virtual Mega Career Counselling session on Sunday, May 29, 2022. The session witnessed the registration of more than 2,500 CA aspirants, according to the official press note. The Counseling session was conducted by CA Kishore Peshori, Principal, MMK College, Mumbai. Past president of ICAI, CA Nihar Jambusaria graced the event as the chief guest.
Expressing his thoughts on the importance of technology, Nihar said, “Technology has become a critical aspect of the regulatory compliance process today. ICAI’s committee of education and training has ensured that tech is well integrated with the syllabus so that a CA student learns every aspect of technology on the course and is able to implement it during his practice.”
He further added that it has become easier to crack the CA exam today compared to a few decades ago. Earlier only 1-2% of the candidates appearing CA entrance used to clear it. Today about 15% qualify. ICAI is planning to make CA entrance tougher, but once a candidate enters the stream, it would be easy for him or her to clear it, he said.
Talking about the role of a Chartered Accountant, the Guest of Honour, CA (Dr.) Niranjan Hiranandani, Co-founder and Managing Director, Hiranandani Group of Companies, shared that it was limited to Audit and taxation a few decades ago. He further added that in today’s digital age, the role has expanded to new frontiers including the roles of a CFO or a CEO incorporates, as Consultants, as Partners in CA & Consulting firms, IT & Tax auditing, GST, Capital Markets, Training, as Evaluators, Financial Reporting, Cost Accounting, as Liquidators, Corporate Financing & Fund Raising, Budgeting, Forecasting, Share Valuation, Company Law Advisory, International Taxation, Wealth Management, Non-Financial Reporting and many more.
“India being the start-up capital of the world, there are lot of opportunities for CAs to guide a start-up on compliance and business formation. Many CAs are becoming start-up entrepreneurs themselves. There is a great opportunity for a CA to identify the technological gaps in a start-up and fill it, and thus make it valuable,” said CA (Dr) Hiranandani.
“To become a true professional, a CA graduate should strive to keep his knowledge up to date, especially the technological needs that his profession demands, without which he would become outdated. A few decades ago, a CA had to depend on printed materials, and circulars to keep his knowledge updated. However, today with Internet availability, this task has become easy. Learning should be a habit for him, but critically, the information imbibed should be applied in his professional life,” said CA (Dr) Hiranandani.
CA Murtuza Onali Kachwala, Chairman, WIRC of ICAI said, “Chartered Accountancy is the most respected profession globally. In 1949, the accounting profession was Constituted under the Act of Parliament, before the constitution of India came into existence in 1950. The message was clear, the revenue and finances of the country had to be safely and successfully managed, without any leakage, safeguarding every individual of the country.”
“I had a very humble upbringing, but my life changed completely after becoming a CA. Once a student clears CA, he becomes a member of an Elite Club, well respected by the public, industry and the government. Along with the respect, it also brings responsibility. My message to the aspiring students is you will be associated with the second largest accounting body in the world. ICAI’s committee for education and training will support you in every way to make your journey easy and successful in becoming a CA.”
CA Purushottam Khandelwal, Vice Chairman of the Career Counselling Committee of ICAI also shared his views. He said, “There are scholarship programmes from ICAI for the needy students. For the candidates from North East and Jammu & Kashmir, more than 75% of the fees have been exempted. ICAI’s CA course is the only course in the country where an emphatic practical training is given along with theoretical training.”
CA Shweta Jain, Secretary, WIRC of ICAI, said, “There is a great value in the power and position of a CA in the country. Prime Minister Narendra Modi has mentioned that the value of a CA’s signature is of the highest authority in the country, unchallenged by none.”
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