There were two students in our coaching institute. The first one a boy, Mr X had by a hair lenght cleared his PE1 and CA-PE2; and the gal Y had passed the two exams with ease and good marks. The difference was that X didn't attend any coaching class.
X joined articleship after PE2; and worked as a semi dummy(75% genuine). He used to work with diligence and he was also lucky to have a kind and understanding Principal; who didn't let him in any manner whether it was in gaining practical knowledge. Suppose in situations like "there is monotonous work; and his exams are coming near or his coaching classes were gonna conduct imp lectures; he would let him go without him asking him twice or giving any explanation. He also gave him proper leave(more than 3 months).
Miss Y worked in another firm near X's office. It was a CA who knew Y , who told me about this entire story. One day, a call came from Y's office client where she had gone for audit. "Sir, if you are not changing the audit team, i am gonna change the auditor.". frightened, her CA asked,"Why?" Client said," That gal; she is doing nakhraa and making hue and cry about a Rs 20 vouchers; which we have made ourselves. When we ask that this is proper, she says,"Our sir at class says that external evidences are always reliable than int. evidence." Her CA called her back and happily gave her holiday for finals.This gal then rarely attended office.This was a case of total book-rotting.
Then came Finals. Both became rankersin 2004-06(to protect identity). Y got rank btw 5-12 and X got rank btw 25-32. So their starting package were different. Y had a starting package of 7 -8.5 lacs in leading FMCG giant; X got starting salary of 3.5-4.5 lacs.
At end of 08-2009; Y 's salary was almost double to 13 lacs pa. But her work descripttion and responsibility remained same. X's salary was 50+ lacs and he had rose to second in position of his employer company. He left the compnay and has gone to East Asia to work for a leading renowned Investment banking co. and he is earning in dollars.He isn't even 25 yet.
What's the moral of the story?
Is that true that doing 3 and half years of same tikcing of purchase-sales voucher and filing ITR 1-5 the way of being successful?
Experience matters.Book-rotting doesn't help much. But a source of getting experience has been trampled by ICAI; they banned transfer. Getting secondment is also hard. Who will give practical knowledge to an article who will work there for 3-4 months and go back to his old employer(employer won't let him go for more than 5 months)
What's the moral of story?
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