CAI proposes new course for accounting technicians
In a move
that could open up an entirely new stream in the accounting profession
and create millions of jobs, the Institute of Chartered Accountants of
India has proposed a new course for those who could not crack the CA
exams. All those who always aspired to make it big in accountancy but
failed to break through the exams, reputed for their dismal pass
percentage, could try clearing Accounting Technicians course.
For
the accounting profession, this would be the equivalent of the ITI's
diploma in engineering vis-a-vis the B Tech from the IITs.
ICAI,
the apex governing body for Charetered Accountantancy professionals in
India, has recommended to the government that all those who could not
clear the CA course be enrolled for a new short-term course that would
open the doors for their entry into the profession, though not as CAs
but as accountancy professionals.
In its representation to the
ministry of company affairs, ICAI has advocated introduction of a
course for ‘Accounting Technicians’ course for such candidates. “We
have submitted our proposal to Ministry and are awaiting its approval,”
ICAI President Sunil Talati said told FE.
The Accounting
Technicians could come in handy at junior levels, he said, adding that
details about the course length and its curriculum would be worked out
once an approval was received.
"Business and economy in India
are developing rapidly. They can be the best products to write,
maintain accounts and we have recommended that a course be started to
induct them into the profession," Talati said.
He added that
there was an "acute shortage" of accountancy professionals in India and
induction of professionals, who though could not clear the final
hurdle, would help meet the shortage.
Calculating the future
•
For the accounting profession, accounting technicians would be the
equivalent of the ITI's diploma in engineering vis-a-vis the B Tech
from the IITs
• Of around 40,000 candidates appearing for the CA final exam, only around 8,000 clear the final hurdle every year
As
per estimates, the fast-growing Indian economy faces large shortage of
accountants, in lakhs. How do we meet the demand, he questioned.
The
pass percentage of CAs has been dismal, though ICAI has recently made
changes in its course structure and even reduced its length from over 5
years to just over four years. Of around 40,000 candidates appearing
for the CA final exam, only around 8,000 clear the final hurdle every
year.
New course proposed by ICAI
Last updated: 15 March 2007
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
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