What After CA?
Qualifying as a Chartered Accountant opens the door for varied career options. There are also few who pursue further courses to improve their horizon of work and gain an edge over others.
Career Options after Qualifying as CA
Taking up Practice after qualifying as a Chartered Accountant is the most sought after and challenging thing. However, owing to intense competition, pressure from clients, corporate services’ opportunity of rendering cannot be performed doing practice as an individual or as sole proprietor is an outdated concept. Hence it is advisable to start a partnership firm where the scope of practice can be widened. You can also start a LLP firm in accordance with LLP act 2008.
Chartered Accountants can enter into practice with
- Company Secretary in Practice
- Chartered Accountant in Practice
- Cost Accountant in Practice
- Architect professional
- Advocate as defined by Bar Council of India
- Engineer (Chartered)
- Actuary Professional
Becoming partner of a Big Audit/Consultancy Firm
Owning or partnering in a big audit firm is a challenging task. In order to become a partner in an audit firm you need to start as an employee in that firm. Gradually you will attain various positions in the firm like from manager to senior manager to associate director and thereafter become partner.
Job in a CA firm
A Chartered Accountant can pursue career in following firms:
- Internal Auditing
- Tax Auditing
- Forensic Auditing
- Career in Accounting and Finance
- Taxation Advisory (Both Direct and Indirect)
- Statutory Audit under applicable statutes
- Managing Treasury function
- Others like Bookkeeping, Finance Controller, Preparation of financials of companies, etc.
- Investment Banker
- Pursue Government/Civil Services
- Career in Insurance
Work as a Teacher
Teaching CA Students is also a lucrative career option. Upon qualifying one can teach CA Students at the Institute or at any other coaching centers. One can also open their own coaching institute.
Courses to be pursued after Qualifying as a CA
CFA (Chartered Financial Analyst)
Many CAs opt for the CFA exam, right after qualifying their Finals. This combination gives you an all-around knowledge in the field of Core Finance. It gives you more international acceptability, than what CA as a standalone degree can give. It can help you take up jobs outside India.
LLB (Bachelors of Law)
These days, CAs have developed their craze towards law. The reason is pretty obvious. You can have better hold over legal language and edge over other Chartered Accountants in matters drafting appeals or presenting cases before authorities.
FRM (Financial Risk Manager)
FRM is a globally recognized designation issued by the Global Association of Risk Professionals. During your CA journey, you might have sometimes calculated the Risk associated with a particular portfolio in the subject of Financial Management. If you’re fascinated by that, you can opt for this course. It’s drafted on similar lines.
CS (Company Secretary)
We have seen many Chartered accountants pursuing CS along with, or after they qualify CA finals. Many subjects of these two courses are overlapping and hence getting 2 degrees from the same knowledge is a useful proposition. Chartered Accountants usually pursue CS to get a stronghold in Corporate law, along with their core domains – Audit and Taxation.
CPA (Certified Public Accountant)
CPA is the American version of Chartered Accountancy. The CPA degree is given by the American Institute of Certified Public Accountants, and it is mandatory to have this degree in order to practice as a Public Accountant in the US.
Whatever the path one chooses post qualifying should be decided carefully. One shouldn’t blindly follow any career path or choose any course blindly as each one has different abilities.