The Institute of Chartered Accountants of India (ICAI), on Wednesday, launched the Accounting Technician Course at a function organized here at the Vigyan Bhawan.
Union Minister of Railways, Mr. Lalu Prasad Yadav, launched the course along with Mr. Prem Chand Gupta, Union Minister of Corporate Affairs, who was the Guest of Honor.
After addressing students and sharing the case study of the turn around of Indian Railways at the Harvard Business School (HBS) and Indian Institute of Management, Ahmedabad (IIM-A), Lalu Prasad Yadav addressed the Accountancy profession.
During his address, Lalu Prasad said, "I understand that the corporate world over generally, and the Indian corporate during the post liberalization era particularly, have been looking for middle level accounts and finance support staff to work at various levels of finance. This is all the more necessary in the context of the on-going need for convergence towards the globally recognized accounting standards. I am very happy to note that with the core competence and work experience to be imparted, an Accounting Technician can play an integrated role in the over all business functions."
For long, a need was being felt for personnel with accounting and related skills corresponding to the requirements at the operational level.
All companies in India, be it small, medium or large, also need trained hands to work along side the qualified Chartered Accountants so that the functioning of the accounts and finance departments in every sector would not only be smooth but would also be more effective.
With the launch of this course, students who have enrolled for the CA. course, but for some reasons are not able to complete the course, would have an option of becoming an Accounting Technician.
At the same time, students, after qualifying the Accounting Technician Course, can enroll for the CA course.
Mr. Prem Chand Gupta lauded the efforts of ICAI and remarked, "The step taken by ICAI would provide a much needed service to the country."
President of ICAI, Mr. Ved Jain, on this occasion remarked, "The multi faceted growth of the Indian economy has resulted in huge demand for 2nd tier accounting professionals for large, small & medium enterprises. Responding to this demand of the industry, the Institute decided to launch the Accounting Technician Course. This course is meant to create the second tier accountants which will fill in the gaps at the operational level. We will be able to produce from the Indian youth, an employable youth and transform the employable youth into accountable youth."
As per the newly launched scheme, a 12th pass student can join the Accounting Technician Course after passing the entrance examination (Common Proficiency Test).
Thereafter, the student needs to pass 4 papers after undergoing study course for about 9 months with the Board of Studies of the Institute and completing 100 hours of computer training, besides orientation course.
To ensure that students have adequate practical exposure, they will be required to undergo practical training of one year under a Chartered Accountant, whether in industry or in practice, before the Accounting Technician certificate is awarded.
Delivering the vote of thanks, Mr. Uttam Prakash Agarwal, Vice President, ICAI, reiterated, "The ICAI with the vast experience and expertise available would be able to ensure high quality education and development of appropriate skills necessary for Accounting Technicians at a uniform and consistent basis throughout the country. The Accounting Technicians are envisaged to support the value chain in the accounting process."