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Practicing CA - Please share your views

Merina (Student) (310 Points)

13 April 2011

Hi Friends,
          I am a recently passed CA. I have an intense desire to get COP and Practice.But I have got a lot of demotivating suggestions from many of my friends.
         But a couple of days back one of my friends who is the son of a Practicing CA suggested me to practice.He told that number of CAs coming to practice is very few and the number of opportunities are growing heavily. If I start Practice in your opinion how long will it take to get established ?
             I would also like to know what is retainer ship?

Please share your views...

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6 Replies

CA Jignesh (CA) (176 Points)
Replied 13 April 2011

Hi Merina..

I also passed from such situation of selecting JOB or Practice...Now I decided to do Practice after 1 Year however curretly I am workign as an employee in Practicing CA Firm....

It is really very hard to select one from Industry or Practice ...both have their pros and cons....But I believe that those who want ot build their own identity and bright future motlsy join Practice Field....However there are many problems in starting practice but we must have courage and ability to do something new ......Nothing is Impossible in this world but for that U must have Commitement and burning desire for that ......AS per recent Survey about more than 80% of CA join Industry after passing exam .....there is shortage of Practicing CAs........

Also there are many courses which we can join after passing final exam which are run by Institute Also Practice is very Wide Field ..........there are no. of Oppotunities though in Initial year the Growth is slow but after 4-5 year there is Bright Future........

.SO Best Of Luck for Bright Future.............

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Sgcray (Accounts) (110 Points)
Replied 13 April 2011

Hi Merina,

I for one being a CA with abt 3 years of experience into corporate world, can tell you that you can never really being satisfied with a job. It's just always a job. And jobs these days are getting dumber and dumber, and you think is this what you did your CA for. But then the answer is that you are only a CA, when you are running your own practice, cos thats what gives you the true power of being a CA.

Saying that was quite easy. Now ofcourse you must analyze the logistics part of it. Do you have some sort of family/friend support for starting your CA firm. And what are the resources you can dig into. All the best for it, and hope you do well.

3 Like

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 13 April 2011

Hello Ma'm

I may not be eligible to comment about the issue which you have raised but i can certainly share what my seniors (CA passed out) and few CAs with whom i have i have worked with have told me.

There is increase in demand for practising CAs but at the same time it seems it is tougher to satisfy clients. What i mean by this is many clients may not prefer a CA who is ethical in discharging his duties.

Many a times, it seems, clients change auditors just because CA was not agreeing to management's indulgence in manipulation of books of accounts and thereby reduction of taxes.

A poor CA has to pay price for being ethical. This is not the case with all CAs and all clients, but at the same these issues cannot be denied.

The reasons for more and more CAs entering into service sector is security in job, fixed salary, etc. It seems that, it takes a lot out of a CA to establish a firm of his own and get clients in a short span of time. Many of my seniors are working in CA firms itself so that once they are financially secured, they can establish a firm of their own, and by gaining experience in the CA firm, you can in fact, fare better.

2 Like

S.Chandrasekar (workforce) (70 Points)
Replied 13 April 2011

Unless and until u have have very good contacts to get u the required job, join service only.The so called increased demands for C.A.'s (appearing in Journals etc.)- All these are bagged by only by big firms.You will only end up doing I.T. practice and some bank concurrent audits.Bank concurrent audits are very low paid jobs.
Better join service.Joining big firms is also not correct as they fully sqeeze you and pay does not communsurate with the responsibilities.

1 Like