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30 Sep 2020, Edition - 1905, Wednesday

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Coimbatore

India needs approximately 2-3 lakh Chartered Accountants

Covai Post Network

Coimbatore : With increased number coming under tax network, particularly under GST, there was the need of nearly two to three lakh Chartered Accountants (CA) in India, Institute of Chartered Accountants of India (ICAI), past president, G Ramasamy said today.

There is great opportunity for CAs, particularly women, in view of GST implementation, Ramasamy told reporters on the sidelines of two -day conference for CA Students, here.

As of now there are three lakh CAs and 10 lakh students pursuing the course and 1,200 students are attending the conference, he said.

GST Audit could be conducted only by CAs because it involves lot of complexities and that was why GST has increased the scope for CAs, he said adding that. In today’s scenario, a woman who has cleared CA and knows about the laws can thrive well by sitting home.

To a question on advance technologies being used for CAs, particularly Artificial Intelligence (AI), he pointed out that the present generation students are far better than those who were before them and.AI. is taking over many professions.

” As far as accounting profession is considered, it deals with facts and evidences. So once it is recorded in the form of a data, it becomes an evidence globally under Information Technology Act. ICAI has made it mandatory for CAs to have UDIN (Unique Document Identification Number) to identify their documents, and the institute is bringing out UDIN for CAs,”he said.

This conference is for the enhancement of the students and to strengthen their knowledge, who are also presenting papers on all thetechnical matters like Accounting standards, corporate laws, budget, tax, Insolvency Bankruptcy Code, Ramasamy said.

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