MBA(Finance)
- See more at: https://www.taxvani.com/2014/03/ailing-ca-profession-needs-to-be-treated.html#sthash.TxeznrI6.dpuf
JAINENDRA JAIN (ACS/CA) (1668 Points)
26 March 2014- See more at: https://www.taxvani.com/2014/03/ailing-ca-profession-needs-to-be-treated.html#sthash.TxeznrI6.dpuf
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 27 March 2014
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 27 March 2014
thank you for replying .
I thought no one would reply.
JAY DARJI
(CA Final )
(34 Points)
Replied 28 March 2014
Rohit Jain
(MBA (FIN ) CS (Professional) )
(2860 Points)
Replied 29 March 2014
Dear Jainendra Jain Sir ,
i found your article / post one of the most intriguing once posted on the forum in a while. I totally concur with your views regarding the ailing standards in the c.a profession now a days. I request you to publish this as an article in the articles section if possible.
There are some replies / discussion that i wish to do regarding this.
While capabilities can differ on an individual basis ,
1) Companies prefer iit / iim graduates due to manifold reasons. While it is true that c.a is the best financial professional around , investment banking today has become a quantitative hell in which we have to admit that beyond doubt , iit / iim grads excel since they come from a hardcore engineering background which makes them stalwart in quantitative side. Engineers plus the polishing that they get from iit / iim mba / mtech takes them to a superior level than ca's. (there can be arguments regarding this but the truth is what you have already stated)
2) Today a cfo or senior level role is not strictly limited to the financial domain but extends further beyond it.
Why should they not get this salary ..... I think that the market is finally getting it right that for being a Good finance professional one need not be a chartered accountant. Its the person and his individual capibilities that matter and not that he is a c.a or m.b.a
Let us suppose that recent c.a topper is not in fact a c.a but a m.com. but since he has topped , does that mean that if he is not a c.a , he does not possess capibilities ? even the government especially large companies recruit c.a / icwa/mba on an equal basis (for eg - ongc management trainee recruitment)
Therefore if right quality students come to c.a , then they shall always get the most coveted positions.
Its a shame that icai considers passed company secretaries and cost accountants at par with cpt passed amateurs. That's why till recent times , even if you passed c.s or icwa you had to pass cpt then ipcc and so on. Now only the sun has shone upon them that these people do also possess appropriate qualifications.
Icai should allow passed c.s and icwa to first give ipcc and final exam and then a limited period of articleship (upto maximum 18 months will be more than enough ) because c.s and icwa already possess some kind of financial knowledge and to certain extent , even greater than an average c.a student
That was what i felt apt to reply. Do reply if you get time to read this
Jai jinendra and thank you
Rohit Jain
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 29 March 2014
THANK YOU ALL FOR REPLYING.
FIRST OF ALL IN REPLY TO POST OF JAY DARJI.
IT IS NOT THAT PRACTICING CA (NEWLY EMERGING) ARE HAPPY AND READILY ACCEPTING THEIR CARRER IN PRACTICE.MANY OF THEM ARE THERE JUST BECAUSE THEY DINT FIND SUITABLE JOBS FOR THEM.MOREOVER ONLY CA WHO HAVE STARTED PRACTICING OVER MORE THAN 10 YEARS ARE JUST SATISFIED.
THING IS OLD PRACTICING CA HAVE DOMINATING ROLE IN PRACTICING AND AS SUCH IT IS DIFFICULT FOR NEWLY EMERGING CA TO FIND THEIR BREAD.
JAINENDRA JAIN
(ACS/CA)
(1668 Points)
Replied 29 March 2014
TO ROHIT JAIN:
THANK YOU FOR APPRECIATION AND SUPPORTING THE VIEWS.
JUST TO ADD : WE NEED A CHANGE , A CHANGE THAT CAN RETAIN THE PRIDE OF OUR PROFESSION AND ALL THE MEMBERS FEEL HAPPY AND SECURE AT WHAT EVER STAGE THEY ARE AT.
HARI OM
(NA)
(233 Points)
Replied 30 March 2014
Pls dont use upper-case it hurt eyes( many will agree)
thanks