Chartered accountants will emerge as value drivers'
October, 22nd 2012
Accountancy as a profession traces its origin to more than 9,000 years as references to it can be found in early civilization, epics like Manu Smriti, Vedas, and Arthashastra and Mughal literature. Regulating this profession in India is the Institute of Chartered Accountants of India (ICAI) which was formed as an autonomous body with powers to regulate the profession of accountancy in India and to foster education and training to its students. Heading the Mangalore branch of Southern India Regional Council of ICAI is Murali Mohan, its chairman. Mangalore branch is one of the first branches to be set up as early as 1971 and has 465 pro-active members and over 1,150 students. It regularly conducts programmes for members, students and also in respect of various topics of public interests. Branch activities are carried on through managing committee consisting six elected members.
Where is the CA profession headed under the Mangalore branch of ICAI? The ICAI as a partner in nation building through its members has been providing multidimensional services to business community in particular and society in general. There are about 190 practizing CAs in the region. Business and industries of the region have availed services of CA mainly for taxation and audits. With an expected industrial growth of the region due to new units being set up in SEZ, STP and industrial area, the role of CAs as value drivers and in the area of management consultancy will be substantial in days to come.
Any plan of action undertaken to extend scope and reach of the profession during your tenure? We have organized a series of programmes. The Direct Tax Code and Goods and Service Tax expected in the near future will change the way business has been done and we have been educating our members and public to get ready for the same. We are planning to have a few programmes jointly with the police department relating to white-collar crimes and also with the district and city administrations on public finances and accounting soon.
Is there a specific branch-level plan of action to attract students to CA profession? CA has emerged as a challenging and attractive career option for students. It is one of the most economical study courses and provides a good career. The making of CA ensures a very deep-rooted knowledge, coupled with commitment to work hard. The direct entry scheme for graduates/PGs to CA course has come into force. Now, the commerce graduates with 55% and above marks and other graduates with 60% and above marks will be allowed to pursue articleship under CA without appearing for CPT exams and during articleship they have to clear the PCC. The existing scheme of entry to profession for PUC students through CPT, PCC group I and thereafter articleship also continues.
Where does the ICAI Bhawan project stand? The ICAI Bhawan has been a dream project which is becoming a reality due to collective efforts of the previous chairmen of the branch. The building measuring about 15,000 sqft of constructed area will have an auditorium with a seating capacity of 300, four classrooms and a computer centre. The building committee under Nithin J Shetty is making best efforts to ensure that it is completed by the end of this year. We expect it to start functioning fully by early next year.
How does ICAI value the Mangalore branch? The active contribution made by the branch is recognized nationally. Last year, we got award for the highly commendable performance from the Southern India Regional Council of the ICAI. The central office has also supported the branch activities by way of capital and revenue grants.