CMA. Rakesh Kataria (Practising Cost Accountant) (536 Points)
28 May 2011In India, member of Institute of Chartered Accountant of India is allowed to do audit of financial accounts.
Can we need more Institutes’ to train the accountants, or one is enough.
Can monopoly of one institute is causing problems relating to supply of quality accountants to Indian industry.
Is Indian Industry have no other option but to appoint CA for the financial audit.
Sasanka Bhalaki
(Student)
(1935 Points)
Replied 28 May 2011
Really a great idea sir..in my view there should be introduction of new institutes which helps in training accountants..other than CA..because it is not sufficient
but in the same way.i b elieve that..monopoly of ICAI is best because if any other institute is established then there will be in competition so there may be chance of reduction in quality of people comming out..so ICAI is maintaining the better quality..and offcourse such trained CA persons are necessary and will do value for the work given but trained accountants may not work as such..
N.Jayamani
(CA PCC)
(39 Points)
Replied 28 May 2011
If more institutes are introduced for CA's, the quality of qualification will not be maintained.
It will reduce the standard of CA's . The global standard for our institute will be spoiled.
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 28 May 2011
I would like to say that CA is best for Audit work.No need for any other in this field.!!!!!!!!!!!
However, there must be a Test for all CA in Practice Once in a year/2years and ranke them for Allotment of Audit......!!!!!!!!!!!!!!!!
Arvind Sharma
(ACA)
(1432 Points)
Replied 28 May 2011
sometime monopoly has to exist... to maintain level of standard...
and thats why still In india, there is some industries which are under control of Government and has single department/ministry.....
CMA. Rakesh Kataria
(Practising Cost Accountant)
(536 Points)
Replied 28 May 2011
As CA’s are only professional Accountant in financial audit, so how can we compare CA with others, how can we say CA's are best? comparison can be done when alternatives are available.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 28 May 2011
sometimes monopoly must be there for maintain quality
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 28 May 2011
CA'S ARE ASKED BEST BECAUSE OF THEIR EDUCATION LEVEL
CMA. Rakesh Kataria
(Practising Cost Accountant)
(536 Points)
Replied 28 May 2011
Dear Arvind
From 1993 the liberation of Indian Industry started and most the industry is now non monopolistic except the some of the industry which are defense and security related.
Education system also liberalized now so many engineering, medical colleges are established and quality of education is enhanced in medical and engineering field.
ICAI is also a distance learning education institute to conduct the examination of the CA profession. Student does not need to go the college or Institute to take classes. Article ship is training not the education system. Students either go for self study or take private coaching for the education.
So, we can create more institutes by passing the Act from the parliament.
Regarding the work of accounting regulator, let this work should be done by the committee of the government which have members of all institutes, this model is successfully working in Great Britain where 4 institutes are authorized to conduct the financial audits.
M. N. JHA
(CA)
(8316 Points)
Replied 28 May 2011
Siddharth
(Get Digital Signature Certificates (DSC) in 30 minutes! Click on send PM!)
(672 Points)
Replied 28 May 2011
| Originally posted by : future ca | ||
 |
CA'S ARE ASKED BEST BECAUSE OF THEIR EDUCATION LEVEL |
 |
Competition brings out the best quality.. As per you monopoly maintains quality? If I am the only seller in the market, why the hell would I care for quality when I know, no matter what, people are going to buy from me only?
The monopoly brought out the best in the shape of satyam..
CAs are asked because majority of the CAs are in practice, hence they can lobby in government to give them privileges, where other institutes like ICWAI, most members are in jobs, who don't care much about the audit things. Even in ICAI, members who are in jobs give a toss to the institute's seminars/ CPE hours...
If ICWAI manages to organise/ upgrade themselves and lobby... soon ICWAI too can have their share of the pie. And, also ICAI has the 10 year advantage of being formed ahead of ICWAI.
CA. Anubhav Jaggi
(CA)
(104 Points)
Replied 28 May 2011
Bad idea Mr.Rakesh Kataria. Industry need professionals having core competency. And this can be acquired only when there is monoply in this area. Competetion is not always good. Competion between institutes here means reduction of quality of CA's, which is not acceptable at all.
ICAI is doing its best, let them do their job.
Leave the Science to Scientists.
Siddharth
(Get Digital Signature Certificates (DSC) in 30 minutes! Click on send PM!)
(672 Points)
Replied 28 May 2011
^^^ Don't you think power can be abused in monoply?
If CAs are that good, ask government to disband C&AG and take thier place...
If CAs are the only people who have core competencies, I can find you people who are smarter and more efficient than some CA, having other qualifications
You say: Leave the Science to Scientists... nice.. is there are rule that scientists from xxxx institute can only do scientific stuff?
CA Arindam Dey
(Chartered Accountant)
(117 Points)
Replied 28 May 2011
CA Ravi Sisodia
(CA,CS,CMA)
(32226 Points)
Replied 28 May 2011
CAclubindia
