Ask & Answer Discussion

Challenges for accounting professionals in India today.

CAs are one of the most sought after professionals of the country. However, several challenges have emerged in the profession. What, in your opinion, are some of the key challenges in this sector?

10 Followers | 702 Views | Posted 9 years ago

Started by Neha Agarwal

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Commented by

Giriraj Rathi Happy to help!! | Contributor-Level 9

7 years ago

Challenges and opportunities go hand in hand.
With the surge in need of professionals at various work places, the challenges have proportionately increased.
Out of the many challenges faced by accounting professional, some of which I think are the major ones are mentioned below:
1. Many professionals in their period as a student or trainee do not get the adequate practical exposure as might be required to cope up with the business group. Having theoretical knowledge is good and is required to clear the examinations, but in the long run only theoretical knowledge won't suffice.
2. Lack of updating on part of many professionals is another

...more

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Commented by

SHUKLA M | Contributor-Level 10

9 years ago

Thanks Neha for the invite. In my opinion, the CAs in India occupy a promising segment and deserve applause for their knowledge base. But it is often found that the connect between common man and a CA is often missing. The CAs are not being trained on their skills part. Therefore I find the soft skill training part needs to be taken care of.

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Commented by

Arvind Joshi | Contributor-Level 9

9 years ago

The topmost challenge in front of a CA is ETHICAL CONDUCT. One of the common issues is Tax Avoidance vs. Tax Evasion. CAs are sought to discover ways and means to save lakhs of rupees in exchange for a few thousands. It is for the CA to decide whether the issue in question is ethical or otherwise.

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Commented by

Neha Agarwal | Guide-Level 14

9 years ago

I would also like to invite Arun Dev Arvind Joshi245 SHUKLA CAREER OPTIONS harenderbisht to share their views.

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Commented by

Neha Agarwal | Guide-Level 14

9 years ago

Despite the number of challenges that have been faced since the gazetting of its Charter, the CA Sector still remains far ahead of its counterparts. Thus far, the CA sector remains the only sector that has its own secure online platform where firms are able to report their detailed scorecard information.

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Commented by

shruti sharma

9 years ago

Another major problem is that one is actually not doing full time graduation along with CA preparation. So if in future one decides to leave CA as a career than it is major drawback in terms of education.

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Commented by

Sakshi Goyal

9 years ago

Isha you are right. First and foremost problem faced by every practicing Chartered Accountant is competition. For the fresher, this is worst. I hailed from a small town and we got a CA in every corner! On top of this, you cannot Solicit clients, you cannot advertise or it would call for Professional Misconduct. Prepare yourself for a long struggle if you are are fresher and planning for practice.