Up until a few years ago, The Institute of Chartered Accountants in England and Wales (ICAEW) qualification could only be completed by going to the UK and securing articles with a CA firm there. However, following the MOU signed with The Institute of Chartered Accountants of India (ICAI), it is possible for Indian CAs to additionally gain ICAEW by completing three integrated papers. This opens up two new avenues for ICAl members: ICAEW’s global recognition gives members many opportunities to work across the globe and it also gives an additional set of integrated skills that help Indian companies gain a global perspective, which tangibly accelerates growth. This is reflected in the fact that 95 percent of the FTSE 100 companies have a CA on the board and greater than 50 percent of the FTSE 100 companies have a CA as CFO. With India needing increased growth from all sectors, these newly minted ICAI-ICAEW members are set to catapult business with their new skills. It will also provide opportunity to these Indian graduates to be employed in the UK and.
The first batch of ICAI-ICAEW graduates were felicitated on the evening of October 9, following the interesting panel discussion organized by ICAEW and Get Through Guides (GTG) on the topic ‘The Global Finance Professional: Have We Arrived?’ at Taj Lands End Hotel, Mumbai.
The key note address was delivered by the chief guest Yezdi Malegam, chairman of National Advisory Committee on Accounting Standards, a board member of Reserve Bank of India and an ex-president of The Institute of Chartered Accountants India, on ‘The finance profession in India – the importance of professional skills needed in taking India forward’.
Malegam said, “Accountants play an important role in today’s financial reporting and all sectors. Bodies like ICEAW are trying to create perfect force for such important role.”
This was followed by panel discussions, which were moderated by Vandana Saxena Poria, OBE and CEO of GTG, with representatives from anchor partners (Tata, Mahindra, Deloitte, GT), representatives from qualified ICAEW participants and representatives from participants undergoing the course, namely:
Manaswini Goel – Joint General Manager – Treasury, HDFC
S. Meena – Deputy Manager – Deloitte.
KhushrooPanthaky – Partner at Grant Thornton
S Venkatraman – Mahindra & Mahindra Ltd.
Poria invited the panelists to speak for a few minutes on a particular topic, followed by questions to the panelists and an interactive discussion with audience participation. The focus was on the most effective techniques to improve skill levels in CAs and the different skills that are needed in a global market.
The evening concluded with the Awards ceremony conferred to 23 students. Said Poria, “With a huge opportunity for entrepreneurship, The Institute of Chartered Accountants of India (ICAI) members play a crucial role in turning those entrepreneurs into the Tatas’ and Mahindras’ of the future. The added global skills that ICAEW gives ICAI members ensures that they communicate and coach their clients to deliver their maximum potential.”
The event was graced by eminent guests, comprising CEO’s, CFO’s and top CA practitioners in the country.
Said Deepak Parekh, chairman, HDFC India, “I owe my solid foundation in the world of business and accounting to the training and guidance by the Institute of Chartered Accountants in England and Wales. This foundation has helped me build strong ethical businesses across India. The opportunity for you to gain skills through ICAEW should not be missed”.
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