How has the role of the chartered accountant (CA) profession in India transformed in terms of increasing competitiveness and enhanced competence?
The profession is at par with the best in the world, and the fungibility of resources worldwide, amplified by the pandemic, has demonstrated that. With professional qualifications being recognised globally, CAs are in demand for a wide array of roles outside the traditional accountant/ auditor roles. My recent appointment to the Institute of Chartered Accountants in England and Wales (ICAEW) is one such instance of Indian CAs breaking the glass ceiling. The massive talent pool that India has to offer, and the alignment of accounting and auditing standards with their respective international standards has contributed significantly to elevating the status of the Indian CA.
What are the emerging skills and competencies that chartered accountants must acquire to remain relevant in the rapidly changing business landscape of today?
Embracing technology has become paramount for every CA, whether as an auditor or in the corporate world. While the traditional skill sets being taught are still relevant, CAs today need to combine those learnt in their curriculum with the latest technology (like data analytics, AI, ML, and others) to stand out. From the changes in accounting, auditing, and regulatory framework to dealing with the latest technological advancements, CAS have demonstrated a remarkable ability to upskill.
How are chartered accountants embracing advisory and consulting roles beyond traditional accounting and audit functions?
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