When they finish their CA certification, the main question on everyone's mind is whether they should go abroad or stay in the country and take advantage of the options accessible to them.
IMPACT OF ICAI INITIATIVES
People are often in conflict of opinions especially with the result of the ICAI initiatives and engagements which involves sharing agreements with various nations such as England and Australia, under which the degree of CA in India would be recognized as a qualification in their country's legislation and vice versa.
DEMAND IN OTHER NATIONS
These considerations have a significant impact on CA immigration. In fact, Chartered Accountants from India are in high demand throughout the Mideast, as well as Western Asia, Australia, and Singapore.
Because Indian chartered accountants are well-known in India and abroad for their passion and competence, which includes both academic and professional training. Indian’s even account for more than half of all chartered accountants in the Gulf region.
WHAT IS THE PREFERENCE OF YOUNG INDIANS?
While the question still remains unanswered, one thing which indeed is true is that according to recent research, young Indians choose to work abroad even if the compensation is lower for better-suited occupations.
WHAT ARE NON-MONETARY FACTORS OF SHIFTING ABROAD?
Growing prospects have caused a significant shift in the mentality of young employees, who are motivated not only by money but also by workplace freedom, the proper ethos, difficult tasks, career advancement, and supervisors that have an inspirational mindset.
DOES THIS MEAN INDIA HAS A LOW DEMAND FOR CAs?
According to a recent study, India continues to have the highest mobility score of 144 among all countries.
Of course, none of this implies that there has been a drop in demand for CAs in the country; in fact, the opposite is true. According to a report in the Times of India, demand for CAs has increased by 37% this year, resulting in a rise in their pay package.
Fresher CAs were offered 2,923 employment in a first-ever virtual campus placement programme that ended last month, up from 2,135 the previous year and their options still remain the same as ever; they have the option of starting their own independent practice or hiring clients based on merit.
They can also seek Chartered Accountant positions in well known established firms. They can also provide services in the financial market. A qualified CA can work for the government, in both the public and private sectors.
One must remember that if you want to practice or work in the disciplines of accounting, law, auditing, or taxes (basically fields that follow the local laws) after CA in some other country, you must first complete the certification in that country. You can also go abroad for other fields such as finance, which is based on experience and more international rules.
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