Chartered Accountants play a crucial role in the running of organizations. It is the core of the business. A chartered accountant’s work associate auditing, taxation, accounting, and financial planning. It is a very challenging and rewarding job. There are many exciting career opportunities in this career. They offer advice, assurance, and information, which helps in shaping business-critical decisions. Working in different sectors of the economy, from the public to the private sectors, they provide their financial and strategic advice to the management of the business. There are certain areas in which Charted Accountants operate and function including:
- Public Practice
A large number of chartered accountants professionals are working within an accounting firm, to provide financial services to the clients. Chartered accountants provide not only financial assistance but also offer tax-accountancy services, audits, and management consultancy and business advice. The size of the organization can vary from different firms to firms.
Roles such as finance director and fund manager are allotted to the chartered accountants. Accountants within the organization/ company provide their expert advice in the field of finance to help in the development and management of a business.
- Corporate finance
A more graceful department within a business is the field of corporate finance. It involves the work of negotiating with lawyers, finance providers, and researchers. It also includes handling company mergers, capital reconstruction, and acquisitions.
- Forensic accounting
This field requires Chartered Accountants to investigate cases of insurance, commercial frauds, civil lawsuits, and sometimes there would be cases of personal injury. Every large firm usually has a highly specialized department to handle such areas of work, in which Chartered Accountants fill all the job positions.
Jobs in chartered accountants
- Independent professional practice
CAs with an entrepreneurial tendency can come together with like-minded individuals to start their firm and operate as an individual unit.
- Working for a CA firm
The most obvious career option is to work with a well-reputed CA firm. This ensures sufficient experience and guidance from experts.
- Joining government or non-government organizations
Many of the government and non- government organizations offer new chartered accountant jobs with the right salary packages.
- Banking sector
There are many job roles which demand to work on financial strategies, funding, and strategy in banks are by Charted Accountants.
- Corporate world
To join the corporate world is an obvious option. The work cans its range from planning, auditing, taxation, and investment depends upon the objective of the company.
- Join KPO and Business Process Management companies
KPO and BPM companies always provide flexibility to take up the role of your choice and field and work in the same area.
- Outside India
Institute of Chartered Accountant of India is well recognized in Wales, England, and Australia, which makes it easier for CAs to practice abroad if they want to.
- Financial and manufacturing sector
In India, there is a growing demand for Charted Accountants in the financial and manufacturing industry.
Chartered Accountant Salary
With vast potential and opportunities, CA and its related jobs pay a handsome amount to the qualified person. The average salary of the CA is between 7–8 Lacs, for an Employed Qualified CA. Nevertheless, the Standard Deviation is quite high between the ranges of Rs. 76 Lacs to Rs. 4 Lacs. CA can work in any sphere of the industry, including public, private, and governmental agencies or organizations. It might also include educational institutions, local government offices, and private accounting firms.