After IT professionals and management graduates, it is now the turn of Chartered Accounts (CAs) to reap the fruits of globalisation in the form of increasing opportunities abroad. Major companies across the globe are actively hiring CAs from India.
The global demand for our CAs is growing significantly. The gulf between demand and supply is in fact too wide,” Mr Sunil Talati, President, Institute of Chartered Accountants of India (ICAI), told Business Line here.
While the MNCs operating in India are luring CAs with good packages in campus recruitment, there is an equal demand from major companies in the US, Australia, New Zealand, Middle East, Dubai and Qatar. “We at ICAI are receiving many requests from firms engaged in banking, equity markets, insurance and oil companies for CAs,” Mr Talati said.
Going global
On an average, about 500 CAs are taking up foreign assignments with packages above $60,000 per annum while the demand is for more than 2,000, according to ICAI data. “This is only a tip of the iceberg. Over the next three to four years, we expect the demand to grow three-fold,” the ICAI chief said.
Currently, there are over 12,000 CAs working in different parts of the globe.
“The ICAI syllabus is more akin to global practices and the migration to foreign accounting systems is easier for us. Further, the hardworking nature is also favouring our CAs,” Mr Talati said. The ICAI constantly upgrades its syllabus once in five years in tune with industry requirement, he added.
Key drivers
From an individual point of view, the lure of a global working environment and exposure is a key driver to go for an overseas assignment, according to Mr Abhijit Bandyopadhay, Member, Central Council, ICAI.
With India expected to be ready for International Financial Reporting Standard (IFRS) by 2010-11, the global edge of Indian accounting professionals would further be sharpened, observed Mr Talati.
CAclubindia
