Accountants and economists will earn big amounts instead of Information Technology and engineering professionals in the near future, said Amar Raja Group of Companies chairman Galla Rama Chandra Naidu.

Inaugurating two-day State level continuing professional education (CPE) conference for chartered accountants being conducted by the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) here on Saturday, Mr Naidu said that Indian accountants were replacing the Jews who traditionally held the jobs in the United States.

Indian accountants were doing well in Europe also where they were preferred even for marketing jobs because of ‘their deep understanding of the financial aspects of businesses.

Shortage of professionals

Lauding the role of ICAI in the training of accountants, Mr Naidu, said it was unfortunate that there was an acute shortage of trained accounting professionals in the country.

Urging the institute to train more accountants he said the entire world would in future look to India to provide the trained accounting professionals they needed.

Objective

He said that accounting was becoming increasingly important for running successful businesses.

Earlier, the primary objective of accounting was merely meeting the statutory requirements, but now accounting was being used as a tool of business and internal control.

The SIRC chairman K. Shanmukha Sundaram said that there was a need to propagate accounting profession. Commerce students preferred MBA courses instead of chartered accountancy even though the income was good and CAs were highly respected by the community. He urged the ICAI branches to conduct awareness programmes as many parents were not aware about CA.

The ICAI central council member M.Devaraja Reddy said some training academies were encouraging students doing CA articles to present fake articles.

This was a very disturbing trend and it should be stopped immediately.

Ex-officio and SIRC member G.V.V.Satyanarayana, SIRC Vijayawada Branch chairman P.Subbarayudu and vice-chairman Kunda Rama Narayana also spoke.

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