ICAI sees huge shortage of practising professionals
CA G. Ramasamy, Vice-President, ICAI
The Institute of Chartered Accountants of India (ICAI) is trying hard to get more professionals into practise. “At present more than 80 per cent of chartered accountants are employed with some company or the other. Very few opt to take up practice. But the opportunities are opening up and we foresee a huge shortage of 
practising professionals,” Mr G. Ramasamy, Vice-President, ICAI said.
To get more candidates take up the CA programme, the institute is planning to conduct the CPT (Common Proficiency Test) exam every month. “It will be an online exam. The candidates can go to the respective centre and do the exam and get the result almost immediately. Once he/she clears the CPT exam, they can register for article-ship and take up the intermediate and final exams.’ This will enable more candidates to take the CA course. The institute has tied up with Bharathiar University here to offer a programme for students.
The institute is also gearing up to reorient the examination system to test the application skills of the students. “CA students have always been good in theory. But there is huge demand for intelligent candidates and those capable of applying their knowledge efficiently. We have therefore planned to reorient the current examination system and correct the balance by emphasising more on practical application skills,” he said.
Further, to hone the skills and mould them into excellent professionals, the institute is planning to put in place regular classroom teaching at all important places under the aegis of Board of Studies. These classes would provide complete guidance and enable personal interaction between teachers and students. Applicability skills would be a thrust area and the study material revised accordingly.
With the bigger firms will turn biggest. Thats all. Norms should be made so that even the smaller n mediums get enough of the opportunities.
Instead of increasing the number of students the institute should look into the matter that how the new practising CA could get work. Newly qualified CA working with company will easily get Rs. 3.5 lacs to Rs.4.00 lacs p.a as starting package but the old practising CA could not get this amount. Say a average fees a old practising CA could get is Rs.7,000/- thus total yearly fees comes to Rs. 2.10 lacs and further Tax Audit etc could fetch maximum 2.80 lacs. A practising CA could fetch this after 2-3 years of practice. Thus increase in CA students will only hamper the demand supply relationship in industry. The increase in number must be checked with quality of CA institute is releasing in the job market. By my opinion only Big 4 will be benefitted by the opportunity as new Practising CA will not get enough chance to show its caliber.
Thus instead of increase in students institute should focus that how a newly practising CA could get quality & respectful work.
The approach taken by Institute will only increase its Revenue.
Kindly give prefence to Accounting Technician for Practice.