Career in Chartered Accountancy (CA)

CA as a Career

What is Chartered Accountancy?

Over the years, Chartered Accountancy, as a profession, has achieved rapid growth—and has come to occupy a prominent role in the Indian economy and society—by virtue of the quality professional services rendered by Chartered Accountants. Statutory recognition is given to their role; and their audit/certification is insisted upon for various purposes in different statutes. As against a meager membership of 1700 in 1949, today the membership of The Institute of Chartered Accountants of India (ICAI) is over 2,70,000. The ICAI is also playing a prominent role in the international accounting bodies by virtue of its membership and active involvement in the activities of the International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants (CAPA), and South Asian Federation of Accountants (SAFA).

Who should pursue CA as a career?

Anyone who is interested in Accounting, Finance, Taxation, or Auditing. A CA aspirants could be a

  • Commerce student
  • Undergraduate
  • Graduate
  • Postgraduate
  • MBA
  • CMA
  • CS

Top 10 CA Firms in India

2. PricewaterhouseCoopers (PWC)
3. Ernst & Young (E&Y)
4. Deloitte
5. Grant Thornton
6. RSM International
7. S S Kothari
8. Lodha & Co
9. Luthra & Luthra
10. RSM Tenon

The newly-intoduced GST regime is expected to open up over 1 lakh new employment opportunities, including those in taxation and accounting.

Career options available

The vast changes occurring in the Indian economy have been placing great responsibilities on Chartered Accountants as well as providing more opportunities in this dynamic career. The changes are also a challenge to the profession, in bringing in their knowledge and skill to the specialized fields of activity. Chartered Accountants perform varied roles and functions. The more important ones of these are discussed below:

  • Financial Reporting
  • Tax Advisor
  • Cost Accountant
  • Company Liquidator
  • Management Accounting
  • Share Valuer
  • Management & Corporate Consultancy
  • Corporate Financing
  • Auditor
  • GST Expert

Salary packages offered

The table below gives a glimpse of the attractive pay packages offered to the top rank holders in exams held by ICAI, and also the average pay package.

Year Highest Salary Average Salary
2012 Rs. 28,00,000 Rs. 17,00,000
2013 Rs. 26,50,000 Rs. 18,20,000
2014 Rs. 24,00,000 Rs. 16,70,000
2015 Rs. 29,50,000 Rs. 19,10,000
2016 Rs. 26,80,000 Rs. 18,40,000

Famous Indian personalities who are CAs

1. Mr Kumar Mangalam Birla (Chairman, Aditya Birla Group)
2. Mr Rakesh Jhunjhunwala (Indian stock market expert; known as the Warren Buffett of India)
3. Mr Deepak Parekh (Padma Bhushan awardee; Chairman of HDFC Ltd)
4. Mr Aditya Puri (Managing Director of HDFC Bank)
5. Mr TV Mohandas Pai (Former CFO of Infosys Limited, 1994-2006)
6. Mr Swaminathan Gurumurthy (Renowned financial journalist of India)
7. Mr Prannoy Roy (Co-founder of NDTV)
8. Mr Nirmal Jain (Chairman of India Infoline Ltd)
9. Mr Radhey Shyam Agarwal (Co-founder of Emami)
10. Mr Anil R Dave (Former Judge of Supreme Court of India)