Future of CA profession is bright, given the growing demand for the professionals, say experts
The future for chartered accountants (CA) appears bright, given the growing demand for these professionals amid the changing business landscape in the country, according to experts.
Ramanathan Krishnan, senior programme convener, Department of Commerce at Shiv Nadar University (SNU), Chennai, said, 'India is a $4 trillion economy expected to grow to $30 trillion by 2047; this will trigger a requirement of at least 30 lakh CAs. At present, India has only 4,09,000 practising CAs as against a need for 10 lakh.'
Speaking at The Hindu Education Plus webinar titled 'Why Choose Commerce? A roadmap for CA aspirants', he noted, 'The CA syllabus is vast, and the competitive examination has a low pass rate of 10% to 15%. Academic institutions are recognising this problem and attempting to address the issue by providing enhanced learning experiences in undergraduate Commerce courses.'
Mr. Krishnan also provided an overview of the various commerce programmes available and offered insight into selecting the appropriate one based on an individual's aptitude for professional accounting.
The webinar was presented by SNU Chennai as part of The Hindu's Career Counselling series.
Chella Krishna G., a partner at the Chennai-based firm SRSV and Associates, said students should understand that commerce is not merely a subject but a way to understand the world, and that CA is not just a qualification but a gateway to business leadership.
He elaborated that the role of chartered accountants has evolved beyond filing tax returns and managing balance sheets; they are now instrumental in advising on business growth and shaping financial strategies. 'Aspirants should be prepared to adapt to the enhanced business landscape and equip themselves adequately. The leap is from being number crunchers to independent growth consultants, risk managers, financial advisers and CFOs,' Mr. Krishna added.
The experts emphasised that key requirements for becoming successful CA professionals include an aptitude for continuous learning, possessing a logical mind, the capacity for multi-layered thinking, and the development of technical and soft skills, particularly proficiency in communication.
They also underlined that students should not be deterred by a fear of mathematics, as commerce programmes often offer bridge courses to refresh and enhance students' quantitative skills.
The webinar is available to view at: bit.ly/3RD3ZTA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
23 minutes ago
- The Print
Drishti IAS to continue independently 'for now', after considering Physics Wallah deal, funding via IPO
'At Drishti IAS, our decisions are always based on a long-term vision. Though we explored various funding options during last year, including Initial Public Offering (IPO) and discussions with a few strategic investors including Physics Wallah, we have decided to continue independently for now. We hope we'll keep doing better on our own, and if required, we'll explore other options as per circumstances in the future,' Drishti IAS CEO Vivek Tiwari told ThePrint. The institute said it will continue to run independently, as it has for several years. New Delhi: A few months ago, reports suggested that unicorn Physics Wallah was in talks to acquire Drishti IAS, which is among the oldest coaching institutes for civil services preparations. While they were dismissed as mere speculations, the IAS coaching institute has now said it was indeed exploring funding options last year, including through Physics Wallah, but ultimately decided not to go ahead with it. Four major coaching institutes—Drishti IAS, Chaitanya Academy, Rau's IAS Study Circle, and Sarathi IAS—were being considered for potential acquisition as part of a larger consolidation wave in the Indian EdTech and test prep market. With online-first players like Physics Wallah and Unacademy looking to strengthen their offline footprint and diversify into civil services coaching, talks with these legacy UPSC institutes had emerged as strategic opportunities to tap into a loyal student base, particularly in Hindi-medium and regional markets. Drishti IAS was founded in 1999 by popular teacher Vikas Divyakirti in Mukherjee Nagar. It became one of the most well-known institutes for Hindi-medium UPSC aspirants. The Delhi-based institute reported a revenue of Rs 405 crore and a profit after tax of Rs 90 crore in FY24. Vikas Divyakirti's popularity is such that he even appeared in the movie 12th fail, Videos of his classes and lectures receive millions of views on social media. The institute moved to Noida last year after infrastructure issues in Mukherjee Nagar were flagged, following the death of three UPSC aspirants in another institute in the Old Rajinder Nagar area, and fire incidents at other institutes in Mukherjee Nagar. Coaching institutes came under intense scrutiny by public and authorities for infrastructure lapses and licensing issues after these incidents. Sources at Drishti IAS said the institute remains profitable. Physics Wallah is known for offering affordable online coaching. It first gained popularity through YouTube and later launched online courses for JEE and NEET aspirants for admission in engineering and medical courses. But over the last few years, it has been expanding its offerings. It entered the UPSC coaching space after joining forces with OnlyIAS in 2022. The potential acquisition of Drishti IAS was seen as a strategic move to bolster Physics Wallah's offline presence and diversify its portfolio ahead of its planned IPO. (Edited by Ajeet Tiwari) Also Read: Drishti IAS relocating to Noida, Mukherjee Nagar may see exit of other coaching centres too
Mint
25 minutes ago
- Mint
WWDC 2025: Apple could let developers use its AI models to build new features, says report
Apple's Worldwide Developer Conference is all set to take off from 9 June, marking the Cupertino-based tech giant's second-biggest event of the year where it demonstrates all its software prowess. Over the last year, Apple has received a lot of flak for its patchy rollout of new software updates, along with delays in AI features, some of which still haven't arrived. However, the company will likely try to shift attention from those concerns as it focuses on a major rebrand with the unveiling of iOS 26 at WWDC 2025, a significant departure from the current naming scheme used by Cupertino. Gurman says the new AI features to be unveiled by Apple at WWDC 2025 will be minor and are unlikely to impress industry watchers, especially at a time when the pace of AI progress is accelerating, with companies like Google, Meta, Microsoft and OpenAI announcing new products almost every month. Among the AI features Apple is reportedly planning this year is a systemwide push into translation. The Translate functionality will be integrated across Apple operating systems as part of Apple Intelligence, with its main use case being live translation of phone calls and text messages. Gurman adds that the biggest AI-related announcement by Apple will be opening up its large language models (LLMs), the building blocks behind Apple Intelligence, to outside app developers. This will allow them to build their own AI features using the same technology that powers tools like Genmoji and Apple's writing aids. Apple is also expected to announce an upgraded version of its foundation models for both on-device and cloud use at WWDC 2025. Notably, developers will be given access to the on-device version of these LLMs. In terms of other AI announcements, there is unlikely to be any update on Apple's long awaited Siri revamp. Moreover, the Apple's partnership with Google to use Gemini in its apps is also unlikely to be announced at this year's WWDC.
Economic Times
an hour ago
- Economic Times
Lenskart changes status to public company in preparation for $1 billion IPO
ETtech Piyush Bansal, CEO, Lenskart Omnichannel eyewear brand Lenskart has converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. This comes at a time when Lenskart is considering raising a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round. The transition to a public company is a necessary step before filing its IPO papers. The Gurugram-based company closed a $200 million secondary round in June last year at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. On February 17, ET reported that the company has set its sights on filing draft papers in May, contingent on market conditions. However, the omnichannel eyewear retailer is yet to file its draft papers. Lenskart, which won the ET Startup Awards last year, has hit an annual revenue run rate of $1 billion (Rs 8,400 crore). The company produces 25 million frames and 30–40 million lenses annually and operates over 2,500 stores across India and Southeast Asia, maintaining a strong online presence. Lenskart's conversion into a public company was first reported by the news website Entrackr. With this, the SoftBank-backed company joins startups like Shiprocket, Zetwerk, PhysicsWallah, Boat, Bluestone, and others that are preparing for IPOs. Since its inception, Lenskart has closed nearly $2 billion in funding, including secondary FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).
