Coimbatore : South Asian Federation of Accountants (SAFA) president, P V S Jagan Mohan Rao Wednesday said that the demand for accounting professional, particularly Cost and Management Accountants (CMA) was on the increase.

Those pursing the courses are absorbed by the companies on the completion of the course, which was evident that there was increased demand for such professionals, without existence of demand supply gap Rao told reporters here.

There are 70,000 qualified CMAs in India and of which less than one per cent were in private practice and the rest – employed across different industry sectors, he pointed out.

Professional accountants are expected to perform their task as per the standard prescribed and the disclosure norms have become very critical, Rao said.