Prospects, Special Government Services for Chartered Accountants

ICAICA (2006)BIAbout CA - Chartered Accountancy Profession/Course • Prospects, Special Government Services for Chartered Accountants


Chartered Accountants, on account of their having completed the chartered accountancy course are considered to be candidates with knowledge, ability and intelligence. For this reason, they are the preferred lot for a lot of accounting and managerial jobs.

Financial Manager, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Marketing Manager, Chief Internal Auditor, Managing Director etc., are some such jobs where people with professional accounting knowledge are sought after.

With the growing trend of back office operations, many multi national organisations having their back offices in india employ professional accountants.

Private Practice

A qualified professional can set up his/her own private practice as a practicing chartered accountant. Apart from the statutory opportunities that would be available to a chartered accountant, one can play the role of a consultant for any organisation relating to the functions of accounting, taxation, auditing, cost management etc.

All companies registered under the companies act have to appoint a practicing chartered accountant as their statutory auditor who would verify their accounts and certify them before being submitted to the registrar.

Statutory Opportunities

law places certain conditions on the performance of certain functions. Where the law requires that a particular function be performed only by certain kind of professionals, it should be so. By law, the following functions can only be performed by chartered accountants.

1.Under Sec 44 of the Income -Tax law every assessee with a gross receipts of Rs. 10 lakhs in the case of professionals and Rs. 40 Lakhs in the case of business concerns is compulsorily required to maintain accounts and get them audited by a Chartered Accountant (CA).
2.Chartered Accountant's (CA's) services are employed by the tax department for auditing complicated cases, having large revenue potential.
3.Chartered Accountant's (CA's) services are employed by the Reserve Bank of India and the Comptroller and auditor general of India for conducting Statutory Audit of Banks every year.

Special Government Services

Chartered Accountancy is recognized as an equivalent of post graduate qualification in commerce by a number of universities and government bodies. Therefore, Chartered Accountants would be eligible for all the government services where a post graduation qualification in commerce is necessary.