Today, India is fast gaining popularity as the talent super power! It is in fact the largest source of technically competent and skilled manpower. As far as chartered accountancy profession is concerned, ICAI (Indian Institute of Chartered Accountants of India) is the forerunner in developing the capabilities and skills of the new chartered accountants. Chartered accountancy is one of the high paying career fields, which offers vast scope and can help you to climb the success ladder easily.
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Indian Chartered Accountants High in Demand in Abroad
Indian chartered accountants are readily sought in the gulf countries, West Asian countries, Australia and Singapore. As a matter of fact, nearly 50% of the chartered accountants working in Gulf regions are Indians. In UAE alone, around 10,000 were practicing. As per the ICAI president, Indian CA's are doing exceptionally well in foreign countries and they have a high demand in the international market.
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What's new for the Chartered accountants in India?
Adoption of Indian Accounting Standards has become mandatory from 2016-17. Now, the convergence of Indian accounting practices with the International Financial Reporting Standards (IFRS) which will be rolled out from the next fiscal year will catalyze the FDI inflows to the country. What other changes will it bring? Let us find out in the coming paragraphs-
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With the introduction of Indian Accounting Standards (IndAS), which is in-line with the IFRS, it will help in globalization of the economy, apart from opening new career avenues for the young chartered accountants in India.
It will also bolster foreign investments and ramp up international trade, consequently helping in globalization.
What is IFRS?
It is a common global accounting system for companies, which has been adopted by more than 100 countries. Industry veterans say, its adoption by India will make the Indian companies accounts more comprehensive and at par with those in other countries.
How New Accounting System Will Impact CA Jobs?
The new accounting system is likely to bring good days ahead for the newly qualified chartered accountants. It will unlock the doors for the Indian CA's to secure lucrative jobs outside India. As discussed above also, the Indian accountants are readily in demand in the gulf countries, with the new accounting system, it is only going to expedite their requirement.
The new developments hold promising future for the newly minted chartered accountants. CA jobs can be found across all regions of the country. Whether one is looking for chartered accountant jobs in Hyderabad or any other city, opportunities are available for one and all.
Source : articlesbase.com
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