Accountants recession-proof?

If there's one institute that says it's not worried about placements next year it is the Institute of Chartered Accountants of India (ICAI). "Our placements should not be affected by the economic meltdown because accountants are always needed," says Ved Jain, President at ICAI. Nevertheless the institute is taking no chances. It is holding corporate HR meets in Mumbai and Delhi to market its students and the placement programme. Every year about 10,000-11,000 students pass out to be chartered accountants in India and this number would only grow, says Jain. So are accountants recession-proof much like lawyers and doctors? This blog certainly doesn't agree.