Young chartered accountants (CAs) should look at the practice of chartered accountancy rather than joining the industry, said K. Viswanath, Chairman, Southern India Regional Council (SIRC).
He was speaking on the concluding day of “Utkarshan”, a two-day national conference on direct taxes, organised by the Direct Taxes Committee of The Institute of Chartered Accountants of India (ICAI), hosted by the Mangalore Branch of SIRC of ICAI, in the city on Tuesday.
He said that practice of chartered accountancy was a good option though possibly remuneration was slightly higher in the corporate sector. But the difference in the remuneration was shrinking and in terms of independence and satisfaction gained from work, practice was well worth it. “Practice is a good option,” he said.
Mr. Viswanath said the government was simplifying compliance and all processes were online. There was no need to stand endlessly in queues for documentation as was the case in the past, he said.
Cotha Srinivas, CA, said there was an opportunity for CAs in the cooperative sector as 30,000 cooperative societies required auditing. Ameet Patel addressing the topic of “leveraging information technology for CA profession” said in a technical session that IT could be a great enabler and could improve the efficiency of a CA’s practice. However, it was not a magic wand and could not do much if there was no practice. While IT could help save time, one should not to become a slave to it.
