Thanks caclubindia that due to open forum we can discuss issues like dummy articleship which flourished in small cities where many members don't have enough work but still can register 10 students.
These members get encashment from students (Leave Encashment or Live Encashment ?). It shows that REPORTING REQUIREMENT OF ARTICLE TRAINING has major lapses.
There is no doubt that if CA articleship training is fine enough which ensures bright career.
But I ask how many students get fine training looking to the huge number of students?
Almost 70% of CA Firms run in proprietor form. Others are also in the format of CAPACITY BUILDING FOR THE SAKE OF BANK AUDITS ETC only.
Commencement of articled training on CPT base was one of the worst experience for CA students. Because students could not fill the gap of School Education with Professional Education.
Hence students were not matured for CA training. By the time they matured; the training was almost completed.
The students faced four fold tension : COACHING, TRAINING, STUDY AT HOME AND GRADUATION course run simultaneously.
The major portion of time was consumed in training which was required at any cost. The limit of articled clerks was increased by the institute per member. This led to huge number of dummy articleship.
Thank god that now IPCC students would be in one of the best position because they will not have that much tension of study with training. Since working knowledge of subjects would also be there hence they will focus more on training only.
Looking to these facts; they would be in a better position than before.
My humble request to the forum members that we should carry the discussion in a very decent manner.
If we can find some solutions then not only it would benefit to the students but it would be of great help to practising CA Firms only. If students can finalize some audits at their own; then surely the quality of audit will also improve.
It is really very unfortunate that despite good training in CWA curriculum still many students feel that they are lacking in comparison to CA training.
In CWA curriculum; you will also find that they have included IFRS and AS in their syllabus.
In addition to that; they already have 10 Cost Accounting Standards. Right now they think that these are not so important because who cares for Cost Audit Report ? But don't worry the same story was there in case of Statutory Audit Report previously - it was of copy paste nature run from year to year. Very few members focued on Accounting Standards. Due to recent amendments only; now each and every member is required to report on each Accounting Standard.
The CWA members will be known as Management Accountants very soon.
Their examination pattern is also not so easy. They have to appear for two papers in day one - one in morning and second in evening session. Whereas; the CA institute has relaxed this norm. Previously it took papers without any break. Now one day break is given.
More views and suggestions are most welcome.