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December 10, 2008
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| The Institute of Chartered Accountants of India (ICAI) set-up under the Chartered Accountant Act, 1949 to regulate the profession of Chartered Accountancy is one of the largest and prominent accounting body worldwide. It has been taking various proactive measures from time to time, aligned with the changing facets of the Indian economy, for continuously raising the standards of quality of accounting and financial reporting. |
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| In this landmark year when the Institute is celebrating its Diamond Jubilee year, various initiatives have been undertaken by the Institute in keeping with the dynamic economic environment and the global influences. Keeping in line with its motto of “Enriching the nation through Professional Excellence”, the Institute today has taken yet another initiative of launching the Accounting Technician Course. Shri Lalu Prasad, Hon’ble Union Minister of Railways today launched the Accounting Technician Course in a function organized by The Institute of Chartered Accountants of India at Vigyan Bhawan, New Delhi. Shri Prem Chand Gupta, Hon’ble Union Minister of Corporate Affairs was the Guest of Honor. After addressing the students and sharing the case study of turn around of Indian Railways at Harvard Business School and IIM, Ahmedabad Hon’ble Union Minister of Railways, Shri Lalu Prasad addressed the Accountancy profession during the launch of the Accounting Technician Course. |
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| During his address Hon’ble Minister, Shri Lalu Prasad said “ I understand that the corporate world over generally, and the Indian corporate during the post liberalisation era particularly, have been looking for middle level accounts and finance support staff to work at various levels of finance. This is all the more necessary in the context of the on-going need for convergence towards the globally recognised accounting standards. I am very happy to note that with the core competence and work experience to be imparted, an Accounting Technician can play an integrated role in the over all business functions.” |
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| For long, a need was being felt for personnel with accounting and related skills corresponding to the requirements at the operational level. All companies in India, be it small, medium or large, also need trained hands to work along side the qualified Chartered Accountants so that the functioning of the accounts and finance departments in every sector would not only be smooth but would also be more effective. With the launch of this course, students who have enrolled for the CA. course, but for some reasons are not able to complete the course would have an option of becoming an Accounting Technician. At the same time, students, after qualifying the Accounting Technician Course, can enroll for the CA. course. |
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| Hon’ble Union Minister of Corporate Affairs, Shri Prem Chand Gupta, lauded the efforts of the Institute and remarked “The step taken by ICAI would provide a much needed service to the country.” |
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| CA. Ved Jain, President ICAI on this occasion remarked “The multi faceted growth of the Indian economy has resulted in huge demand for 2nd tier accounting professionals for large, small & medium enterprises. Responding to this demand of the industry, the Institute decided to launch Accounting Technician Course. This course is meant to create the second tier accountants which will fill in the gaps at the operational level. We will be able to produce from the Indian youth, an employable youth and transform the employable youth into accountable youth.” |
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| As per the newly launched scheme, a 12th pass student can join the Accounting Technician Course after passing the entrance examination (Common Proficiency Test) .Thereafter, the student needs to pass 4 papers after undergoing study course for about 9 months with the Board of Studies of the Institute and completing 100 hours of computer training, besides orientation course. To ensure that the students have adequate practical exposure, they will be required to undergo practical training of one year under a Chartered Accountant, whether in industry or in practice, before the Accounting Technician certificate is awarded. With the expertise that the Institute has coupled with a large membership spread across India, the Institute is in a position to impart practical training in live environment. The Accounting Technician produced by the Institute will be the best as a result of high quality education and development of appropriate skills necessary for Accounting Technicians. |
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| As the Chartered Accountancy course is considered to be the best in the world and is most difficult too, many of the students who join the CA course, despite spending years together, having passed intermediate examination, having completed article ship training, could not become Chartered Accountants as they could not pass the final examination in its entirety. To give recognition to all such students which approx would be 50,000 in nos., will be awarded Accounting Technician Certificate, simultaneously with the launch of Accounting Technician Course. Some of such students who were present during the function were given certificates by Shri Lalu Prasad. All students who will get recognised as Accounting Technicians will make value addition to the accountancy profession and by their performance and excellence will bring laurels to the Institute. The Institute can take pride of not only producing brilliant Chartered Accountants, but excellent Accounting Technicians too. |
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| Delivering the vote of thanks, CA. Uttam Prakash Agarwal, Vice – President, ICAI, reiterated “The ICAI with the vast experience and expertise available would be able to ensure high quality education and development of appropriate skills necessary for Accounting Technicians at a uniform and consistent basis throughout the country. The Accounting Technicians are envisaged to support the value chain in the accounting process.” |
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| The ICAI has technical resources, infrastructure facilities including its own computer labs throughout the country, and a large membership base in the industry as well as in public practice and is, therefore, most suited to launch the much needed accounting technician curriculum. The profession has lived up to its vision and expectations as one of the most vibrant forces of socio-economic growth, integral to the success of the nation. Regarded as the backbone of Indian financial system, the ICAI is acting as a partner in nation building. |
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