Prof. S. Sudalaimuthu, Vice-Chancellor, Alagappa University, said there was a mismatch between the fast-paced growth of corporate sector and dearth of qualified personnel to run them.

Addressing a two-day seminar on ‘Emerging developments in accounting and taxation’ organised by the Board of Studies of the Institute of Chartered Accountants of India (ICAI) and the Faculty of Management of Alagappa University here on Tuesday, he said educational institutions had the responsibility to instil professionalism in the youth. There had been a huge demand for qualified professionals on account of fast changes that were taking place in the corporate sector after liberalisation, privatisation and globalisation of the economy, he said. “Every day we come across changes in legislations, and rules and regulations framed by the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC). The frequent global changes have an impact on the economy. Professionals and students of business courses must update their knowledge in accounting, finance, and taxation,” he said.

The ICAI had been given provisional recognition/accreditation for starting a coaching centre in Alagappa University for conducting the CPT (Foundation) for students who wish to become Chartered Accountants. The university, under the University Grant Commission’s ‘Innovative programme,’ had been conducting one-year Postgraduate Diploma in VAT and Service Tax for regular students, he added.

‘Update curriculum’

Addressing another seminar the same day, the Vice-Chancellor said latest trends and technologies must be incorporated in the curriculum every year and called upon the students to improve their competitive skills. Textbooks alone would not help a students survive in the competitive market, he and exhorted the students to utilise online training programmes such as webinars.

V. Palanisamy, Professor and Head of the department, Computer Science and Engineering, suggested that industries could be involved in updating the curriculum.

The webinar, hosted by Microsoft Corporation, was organised by the placement cell of the university and WBC Software Lab, Karaikudi, a release said.