Why should one opt for Chartered Accountancy?

Why should one opt for Chartered Accountancy?

Image Description
Career
Image Description
Created By Admin Last Updated Wed, 26-Aug-2020

If you’re applying for the CA exam, or are considering becoming a chartered accountant, know that it’s a very lucrative career. You’ve heard that the exams are tough, but once you get the certificate, you have a great chance of earning really high incomes. 

Since the profession is really challenging, your approach towards the CA profession should be “Challenge Accepted.”

 

Scope of CA

While a lot of youngsters are confused about what is the scope of CA, let me tell you that the scope of CA is not just limited to accounting firms or jobs in the financial services sector. A CA has a plethora of options to foray such as joining the Big 4 audit firms in the world or work with the leading banks of the world. One can even start up one’s own venture if one has the appetite too.

While this rate of entrepreneurship is on the rise, CAs have the liberty to jump on this bandwagon and start-up on their own. CAs are also required across various government bodies and departments, so the scope of CA in the government sector to is plenty.

 

Talking of roles that a CA could eventually take up in an the organization, a CA can provide a host of consultancy services ranging from tax services, financial consulting, management consulting and audits.

From a business perspective, the sheer rigour of the CA course makes them disciplined professionally. Their financial knowledge and expertise can eventually land them up at designations like Finance Director or Fund Manager, which eventually opens up avenues for them abroad as well. So the scope of ca in abroad is not out of sight too.

 

With their knowledge in accounting and finance, they can take up roles in corporate finance teams as well. Here, they get to work on large projects like Merger and Acquisitions, Capital Restructuring and Management Buy-in and Buy-outs.

 

Scope of CA in Government Sector

As we have discussed earlier, a CA is highly qualified in the field of management, accountancy, and audit. All-State and Central government need a workforce which has people with the above skill set. The scope of CA in government is paramount, they can secure very respectable positions in the government. A CA can work with the Indian Revenue Service as a tax specialist which is an officer position at an entry-level.

 

Also, a CA has opportunities to work with Enforcement Directorate, as they are into raids for misappropriation of funds and other financial frauds. The scope of CA in all kinds of forensic accounting is also good. Apart from that, almost all ministries in the State and Centre require CAs.

Apart from the above options, a CA has job opportunities as a specialist officer in Public Sector Banks and Regional Rural Banks. The specialist officer in all government banks.

 

Scope of CA in Abroad

CA is an internationally acclaimed and accepted qualification that has a wider acceptance across the world. In addition to that, the Institute of Chartered Accountants of India has MoUs with various countries which help CAs to become a member of the ICAI counterpart in other countries.

 

Currently, ICAI has MoU with Australia, Canada, England, and UAE. Apart from the above channel, CAs working with the Big 4, MNCs and leading banks of the country have very good opportunities abroad. Their work requires them to travel a lot. CAs working with Merger and Acquisition projects, Finance directors frequently travel abroad for work. Therefore, there is a lot of scope of CA in abroad as well.