Hey guys, I am K.Srujann Kumar Reddy a chartered accountant working in TVS motor company in internal audit department since I have cleared my CA
First of all I would like to congratulate each and every person in India and across the globe who joined and who joins CA course because it is not easy to join in a course where you will be different from other peers of your age.
However joining CA course is like a south Indian film hero entrance, it will be awesome but clearing is like a climax of a Hollywood film where sometimes hero dies( leaves CA) or hero wins ( passes CA).
So for all the young members who completed CA, high five for all of you and welcome to the CA fraternity
Rest of the guys don’t let yourselves down, I know a student who came from no commerce background and he just got 9 marks in his accounts paper during IPCC, however now he is a chartered accountant and writing an article which you are reading. So cheer up guys and you can easily do it.
Now coming to the topic this one is for all the passed out CA’s, after passing out you will be on top of the cloud saying yourself that “ Finally I am a chartered accountant” and next question is “which job to join?” Out here there are a lot of fields in which a CA can establish his career, I would like to give you a brief opinion on different fields:
- Assurance or statutory audit
- Risk advisory or Internal audit
- Join as audit manager in a firm
- Taxation ( people advisory or Corporate or transfer pricing or Direct or indirect taxation)
- Finance Line-function
- Banking sector
- SAP Executive( IT management)
- Foreign Jobs
These are the 8 things which will stand mostly for a freshly passed out CA, now I am going to brief you about what these fields are like, on the basis of how the job is going to be decide your interests and join accordingly
Here we go….
1) Assurance or statutory audit:
BIG 4’s provide these services and it is nothing but your statutory audits, you have to visit the client where ever he is sometimes roam around india and do the statutory audit , here you will learn the things like finalizing the accounts, verifying the company financials and mostly you will concentrate on financial figures rather than processes and if you feel numbers are right, prepare an audit report and present the financials to the board. Future for statutory audit is like you will know what's the company is doing and you will have commanding power when compared with internal auditors, you can do courses on IFRS which helps you a lot. You will become partner in Big 4’s over period of time
2) Risk advisory or Internal audits:
Internal audit is an emerging field and has a good scope and many associations like IIA(institute of internal auditors) are also present to meet up the requirements of internal audit, and your scope of work will be more of scrutinizing the processes, if you take a process of export incentives you have to go through the process of what the client is doing whether he is losing any export incentives and helping him to identify them Your life will roam around “RISK” what is the risk what are the internal controls to be kept, what if there is a fraud, this is what you will do every day You are like a management auditor helping company but the problems are also there you are expected to bring points in each audit you do, sometimes if you are doing an audit where robust controls are present then you might not get any observations but your boss requires a point, and your appraisals also depends on the number of points, benefit in crores, key process improvements etc you give to the company because of your audit There are many courses certified fraud examiner ( CFE), certified forensic accountant ( CFA). In this you will become chief risk officer of the company or partner in Big 4’s
3) Join as an audit manager in a partnership firm:
you can also join as an audit manager of any firm which is practicing and your salary might be a bit less when compared with the persons going in campus interviews but if you later become partner to that firm then you will earn more money and respect than persons who are working as employees and you will do all works like statutory audits, internal audits, tax works, project report making, company law related etc, you will be like lion with foreheads
4) Taxation (People advisory or corporate taxation or indirect taxes)
These services are also provided by Big 4’s here these guys will provide different services like I shown in brackets above People advisory is nothing but VISA, individuals & HUF taxations etc, Yes there are rich people being individual they will go for big 4 for filing returns which I do at a less cost, anyways Corporate taxation is mostly like your tax audits I can say and includes appeals and court cases as well Indirect taxation is all the indirect taxes like Excise, CST, VAT etc sooner are later everything changes as GST comes and says “ I am Here, you have to change everything” Here you will become Tax partner of the big 4’s
5) Finance line-function:
For this you have to decide whether you want to work for industry (manufacturing) or service sector, and you can join as a finance person and data entry will be done by your sub-ordinates and you will be for finalizing and MIS reporting to the management, statutory filings etc , you will get promoted and final end you will become CFO of that company if you join this If everyone audits who will prepare accounts, so if you go here you will do the accounting
6) Banking sector:
You can choose this sector as well, if you want to get settled in this sector you will do the roles of credit management, funds management, analyzing the capability of person who wants a loan, all these works will be present. You can pursue certified financial analyst ( CFA), foreign exchange related works will be of greater knowledge and you can even work as a part of portfolio management in the companies for which DIRM course will be given by ICAI itself
7) SAP executives:
This job is not that fruitful I can say to you for a chartered accountant, you will be the back end knowledge base for example they want to make some modifications in SAP for which you have to study the new law and recommend changes in their software, my opinion is you will not learn much in this sector when compared with other sectors. My advice is not to prefer such kind, what you studied will not be fully utilizable and you may not be in such a position to grow or move into other company, you can move only to these kind of companies where you will forget all the CA related works
8) Foreign jobs:
This is one of the other area where will have interests, here you can go to other countries like dubai etc , whatever you get is high and you will be rich soon enough but if you work in dubai for long time you will forget indian laws as because it is a tax free zone, laws will change and you can’t come back to india and learn all those things then
So guys this is what is my segregation, go through them hope it is useful for all the freshly passed out CA’s and once you select something your experience will be gathered in that area and where ever you go you will be preferred for that sector only, so think before you decide
Provide your comments about the article.
The author can also be reached at srujan.kalluri@gmail.com
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