The huge demand for second tier accounting personnel in industry and services sector has prompted the Institute of Chartered Accountants of India (ICAI) to launch a new curriculum for rolling out accounting technicians.
The unprecedented growth in the Indian economy has resulted in huge demand for second tier accounting personnel at large as well as small and medium enterprises.
Those persons who become accounting technicians will fill the gap at the operational level as recognised accountants. We will be in a position to roll out about 50,000 accounting technicians every year, said Mr Ved Jain, ICAI President.
Mr Jain said that the new course had the blessings of the Government and all approvals, including changes in the institutes regulations are likely to be available in the next three months.
It will be operationalised this year, he said. The ICAI central council had in its recent meeting approved the launch of the new course.
The ICAI President also highlighted that the concept of accounting technicians was already prevalent in other countries such as New Zealand, Hong Kong, Ireland and England.
Meanwhile, ICAI has also decided to launch a three-month residential programme for CA students to focus on the development of personality and professional skills.
This will be an optional programme. We will also subsidise the cost to ensure that it is not a big financial burden on the students. This is something on the lines of the orientation that IAS probationers get at Mussouri, Mr Jain said.