Is ca loosing its creditability

Some of it is due to poor communication skills.. Some of it used to change nature of economy. CA curriculum is focussed a lot on manufacturing based activities and very low attention to service sectors (banking, funding, capital markets etc). And the economy is largely now service oriented and manufacturing has taken a back seat. China is the centre of manufacturing. Our CA is not enabling candidates to succeed in the service oriented economy. 

Short term scenario can't be taken for granted  atleast not sufficient enough to raise question on credibility of CA qualification.

This phenomenon started from 2007. It's been 6 years. That's not short term.