Harshit gupta (N.A.) (41 Points)
28 April 2014The question might seem old and been discussed many time but still looking for an answer.., a proper one specially cos the proffession and market is ever changing...
what benefits can a pracitising CA with a established firm in Tier 2/3 city avail after a CPA qualification?
i welcome experts and also CPA review institutes to give a valid and practical advice.. Thanks in advance. Would appreciate you taking out time.
Amit Singhvi
(Chartered Accountant)
(26 Points)
Replied 14 July 2014
For a Chartered Accountant in general, CPA will definitely be an added advantage if he/she is currently working in a US based MNC or India based MNC having substantial business operations in USA as CPA qualification will give knowledge of the US tax and regulatory compliance including US GAAP.
For a practising CA, CPA qualification might help him/her in getting work related to US Tax, Accounting & Payroll etc. for US based small & medium sized businesses and individuals. Many CA firms in India are taking up assignments from US in tax and accounting areas. They are simply associated with US based CPA firms for their outsourcing work. Apart from the outsourcing work as mentioned above, a CA with CPA as an additional qualification, can take up assignments of SOX audits of Indian clients.
Hence, opportunities are immense, only thing needed is, you have to make up your mind for such assignments.
All the best!!!!
Suman
(CMA)
(195 Points)
Replied 22 May 2020
The main advantage for a CA to learn CPA is that he gets to master both the accounting languages - IFRS and US GAAP. CPA is a certificate that's globally recognized, is going to provide an excellent career boost for CAs in India.
The demand for CPA has considerably grown in recent times with the substantial growth in MNCs and the Big4s in India. This shift in the trend is because of the requirement of knowledge and credibility about US GAAP, IFRS & US taxation by these multinational companies. “Aren’t there inhouse Indian accounting professionals like Chartered Accountants (CA) who can meet this demand?”, you may ask. But, Indian qualifications like Chartered Accountant (CA) have limited geographical recognition and do not cover topics like IFRS & US GAAP. This increases the demand for CPA candidates in India. The demand has increased than the supply and that forced the MNCs and the Big 4s to train their CAs as CPAs. In other words they give extensive training on the US GAAP, taxation, and the IFRS to their existing employees who are a qualified Chartered Accountant from the ICAI. For such training, the corporations approach Educational institutes like Miles Education, who are the experts in the industry in relation to the US GAAP & the IFRS.
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