Chartered Accountancy is a challenging profession that offers practice or job opportunities in the areas of accounting, auditing, corporate finance, project evaluation, company and other business laws, taxation and corporate governance. The multi-faceted knowledge a chartered accountant enjoys through unique academic programme blended with practical training is what the business and industry need in the advent of liberalisation, privatization and globalisation of Indian economy. Chartered Accountants are better equipped to discharge accounting and audit functions in a computerized business environment.

Role played by a Chartered Accountant

• Chartered Accountancy Course offers the students a dream career in the specialized areas of Accounting, Auditing, Corporate Finance, Corporate Laws, Taxation.
• Chartered Accountants are highly demanded professionals in industry.
• Chartered Accountants are statutorily recognized audit practitioners.
• Chartered Accountants are highly demanded and sought-after professionals in the practice of Income-tax, Service-tax and other indirect tax areas.
• Chartered Accountants are technically equipped to act as management consultants.
• Chartered Accountants possess adequate knowledge in systems and information technology, which help to excel in the areas such as development of advanced IT systems for the organisations including for the functions of finance and accounting.

Independent Professional Practices

As practitioners of public accounting, CAs may start Professional practice as a proprietor or join any existing firm as a partner or staff member. A CA provides compliance and review services. A CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports, helping the business to secure loans, preparing financial projections and determining the viability of business. As a tax advisor, a CA helps businesses and individuals to comply with tax laws.

Management Consultancy Services

CAs play a vital role in assisting business and industry to improve the use of their resources, increase their efficiency and achieve their objectives. The breadth of management advisory services rendered by CAs reflect their expertise in diverse areas. Such services include financial management, planning and financial policy determination such as

• Preparation of project reports and feasibility studies
• Market research and demand studies
• Budgeting, inventory management, working capital management
• Business policy, corporate planning, organization development, growth and diversification
• Organisation structure and behaviour, development of human resources
• Systems analysis and design, and computer related services
• Advisor or consultant to capital issue
• Investment counselling in respect of securities
• Corporate Governance

Statutory Monopoly

Chartered Accountants enjoy Statutory Monopoly in the following fields of service. These services can be rendered only by Chartered Accountants holding Certificate of Practice Issued by ICAI.

• Tax Audit under the Income Tax Act, 1961
• Statutory Audit under the Companies Act, 1956
• Audit of co-operative societies and other associations under various State Legislations.
• Value Added Tax Audit in various states.