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ICAI to open 12 new centres of excellence
August, 21st 2007
The Institute of Chartered Accountants of India (ICAI) is contemplating the setting up of 12 centres of excellence for chartered accountants (CAs) across the country within two years.
 
The centres would enhance the capability, quality and performance of CAs in the country.
 
According to Uttam Prakash Agarwal, chairman of the committee for members in the industry in the ICAI, a number of courses including general management communication will be introduced once these centres are set up.
 
He added such a centre of excellence has already been opened in Hyderabad and another one is being set-up in Mumbai. In the last three years, the number of CAs in the country has gone up by 30 per cent. There are 140,000 CAs in India and over 400,000 students are enroled in a CA course.
 
Still, the industry faces a shortage of 50,000 CAs, Agarwal said.He added that the era when chartered accountants were supposed to restrict themselves to accounting, auditing and taxation was over.
 
Today, the ambit of the the profession had expanded with the inclusion of sectors like asset management, retailing sector, human resource and knowledge process outsourcing (KPO) as well as business process outsourcing (BPO).
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