The Institute of Chartered Accountants of India chief today said the demand for chartered accountants will continue to grow and the next decade will be that of the CAs as the share of the services in the economy will continue.
"There has been huge demand for IT professionals during the last 10-12 years and we hope the next decade will be for the chartered accountants in the country," the Institute of Chartered Accountants of India (ICAI) President Amarjit Chopra said at a convocation ceremony here. "The demand for CAs is rapidly growing on account of fast-changing requirements of the corporate sector.
Changes in regulations, listing requirements and the need for better corporate governance have raised demand in all sectors," Chopra said. "The country has been facing major shortage of CAs over the years. The demand for CAs will always be very high in the coming days," Chopra said, adding time has come to produce more CAs to fill the gap.
At present, there are around 1.63 lakh CAs in the country and about 42,000 in Maharashtra. "As the economy is expected to grow above 8.5 per cent, prospects for CAs seem to be very promising. Chartered accountancy has emerged as a profession of considerable importance in view of the globalisation," he said, adding the services sector is rapidly expanding and accountancy is one of its most significant segments.
Chopra said the Institute is trying to bring in more transparency by providing answer-sheets to students. "We need to bring transparency in this sector. We should make available answersheets to students soon," he said.