Ailing CA Profession needs to be admitted in a super
speciality Hospital and a proper series
of tests are required to diagnose the ailment and its treatment.
As you might
be knowing only 3.1% of the
students passed the CA. final exam of
Nov. 2013.The count is approximately thousand odd only. This is said that the
result is poor and the marks are manipulated to reduce the supply of Chartered
Accountants in the market. Isn't it
shocking that the Indian market which all the MNC's are considering to be the
biggest market to sell anything don't need Chartered Accountants.
But if you
actually look at the placement records (as is being said that in the recent campus placement held in Delhi earlier in this month only 60 odd could be got recruited out of 600 plus applicants by the 15-16 companies came for campus) it seems to be true that the market
can't absorb thousand CA professionals even. Newly passed out CA's who faced
interviews found it difficult to live up to the expectations of the companies
which came for the placements. Or the placement cell of ICAI could not guide
which is the right way to judge the capabilities of the person who has
successfully passed their curriculum.
On the other
hand you pick up the News Paper and you will find many advertisements of a no.
of MBA colleges which may not be properly affiliated even, claiming 100%
placements. I don't say that their claims are valid but if you compare the no.
of CA's produced in a year and number of other professionals be it engineers ,
doctors, MBA's or even B.com or M.com from a reputed institute like SRCC produced and the kind of packages and
placements they are getting, you will definitely be a bit disappointed about
opting to be a Chartered Accountant. The fact is that so many Chartered
Accountants are at very prestigious positions in many big companies and they
are well aware about the capabilities that a CA possess. The placement cell of
CA institute has failed to negotiate with them or they are not being approached
to be a part of this process.
Now what I
feel is that either it is the failure of the placement cell or the curriculum
which is been taught is not up to the
mark. But you can't say that the curriculum
is faulty as many Chartered Accountants who got chance to work have
proved their capabilities and are true
assets for the people they are working for.
If the curriculum is not faulty and the
students which are eligible for placement interviews are first attempters only
then you can't say that their IQ is less than a person who graduated from IIT
or IIM then why is he/she not getting a chance to work in a prestigious
company. It is not the case that there are no jobs in the financial sector but
companies prefer to recruit students
from IIT's. It is definitely the success of their placement cells, as they are able to
secure jobs in financial sector for their engineers, and definitely failure on
the part of ICAI's placement cell who
are not able to market their product.
A
person who is not from a corporate/professional background is dependent on placement cell only. The same
is the story of any professional collage. The students who don't have anybody
to recommend them depend on collage placements only. And it is very difficult
for them to get a job if they are not selected in the collage placement. The
placement cells of these professional institutes work really hard to get a big no. of prestigious
companies to their collages as the reputation of their institutes depends on
the quality of placements their students get.
It is been
pointed out that ICAI through its placement cell is interesting in garnering
the revenue by charging hefty amounts from the companies which come for
placements rather than inviting more and more companies to the campus for
placements and providing required infrastructure. Is't it shocking ? The ICAI
leadership is making mockery of the profession which has made them what they
are today.
It is a
wake up call for all the stake holders to introspect at all the levels as CA's are bound to work for a salary which is
less than the salary for which you get a office boy even.
Contributed By:
Rachna Jindal,
MBA(Finance)
MBA(Finance)
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