Whether needed?
It is need of the society to have “ONE STOP SOLUTIONS” with expert level, quality services equipped with international exposure and technology to help businesses, add to ease of doing business, provide inputs to the Businesses and Governments for sustainability. Businesses including Agricultural are the main sources for employment generation which is the foremost objective of every country.
Chartered Accountants can play a very critical role, as they have been trained to evaluate the activities from Financial, Legal and Economical perspectives.
Presently Chartered Accountants are mainly engaged in regulatory compliances though it is very important, not adding value to the business which is considered underutilisation of available talent.
And the reason is size of firm. Individuals and small firms can not practise specialisation, can not afford cost for research, training, standardisation, branding and liaising.
It is a win-win situation. If we change and help businesses to grow, we will grow. Else everybody will suffer and all will keep complaining.
Hence LARGE FIRMS is the necessity.
Views about large Partnerships
1. Negative views
• Partnership is an invitation for disagreement.
• It is not possible.
• Two intellectuals cannot work together.
• It will not last longer
2. Positive Views
• If IT professionals have proved, Indian Industry has proved, Medical Profession has proved, then why not Chartered Accountants ?
• When we the professionals are at same intellectual level, we may have disagreements but through discussions we can reach to a decision in the interest of the firm.
• Synergy of strength can only make us eligible for A and B Category Clients, only then we can improve 80%-20% rule providing “Work Life Balance”.
• Saving on account of infrastructure and admin cost is possible only by sharing.
• Perpetuality is possible only in a case of Artificial Entity having policy of continuous addition of new partners.
• Knowledge sharing and specialization is possible only is case of large organization
• The profit sharing can be devised most rational and logical which will leave very small room for dissatisfaction.
• Last but not least, you can take leave only if you are part of large organization.
Introspection
Are we doing injustice with the society ?
Do we owe it to Next Generation ?
Thanks for reading my article.
Your views are solicited.
CAclubindia
