ICAI provides top-quality education, says chairman, board of studies
If a student was committed, the chartered accountant course will provide a very rewarding career to him, said Vinod Jain, chairman, board of studies, Institute of chartered accountants of India, here on Thursday.
Addressing a press conference on the sidelines of a two-day national convention of CA students that began at Siddhartha Auditorium, Mr. Jain said that the ICAI was the second biggest institution of its kind in the world and one of the best in the world in terms of quality of education.
Though every year about two lakh to three lakh students appear for the CA exam, the pass percentage was only 9-10.
‘In high demand'
But seeing the demand for chartered accountants worldwide, the ICAI was increasing the number of institutions and taking steps to supply the required manpower in accordance with the demand.
One of the measures taken in this connection was to conduct the Common Proficiency Test (CPT) online every month.
Also, the CA course in the country was being benchmarked against international standards and a new accounting course was in the pipeline.
Mr. Jain said it would cost only Rs. 25,000 to complete the entire course in three years, but a student will get back all his investment during the articleship itself, when he or she would be able to earn anywhere up to Rs. 39,000 as stipend. A CA student now commands an annual salary in the range of Rs. 6 lakh to 73 lakh.
He said that the national convention of CA students was being held in south India for the first time since 1992. The Vijayawada branch of the South India Regional Council of ICAI and the Vijayawada branch of Southern India Chartered Accountants Students Association (SICASA) are jointly hosting the meet. More than 1,700 students are taking part in the programme. The two-day meet was meant to acquaint students with subjects like fraud detection and forensic audit, personality development, issues in capital gains, ERP and systems audit, accounting and auditing standards, winning strategies for success in examinations and motivation.