What should i do along with my CA or after finishing my CA?

 

A question that constantly runs in the minds of CA Aspirants, yet many a time, they are unable to find answers for it at that time. First of all, many seniors or previous gen of Chartered Accountants, often suggest students to take CMA or CS along with their CA, encouraging them to become a 'Triplet' or 'Duplet'

However, gone are the days when to become a CFO, you should be either a Triplet or 'Duplet'. Today to become a CFO or the head of an organisation or to be a part of Top Management, you don't need to have three different professional certification from the same country. Its enough if you are just a Chartered Accountant.

Having said that, is Chartered Accountancy certification alone enough, for the rapid changes in the business, economy. Technological advances that are consistently happening in every field.

I will suggest that in an effort to keep up with the trends and to be updated in all core fields, a student should also look at something else, not CS OR CMA, but something else that couldn't give them a competitive advantage. While pursuing CA, the student would be doing B. Com, and after those three years, the student will still be doing CA final assuming that the student has passed Foundation; Intermediate in the first attempt.

The student can consider taking up CISA(Certified Information System Audit) from USA, which will get them the qualification of Information System Auditor, even before the CA Aspirant qualifies to be a Chartered Accountant.

The qualification for entry to CISA is just being a graduate or 60 to 120 completed university semester credit hours the equivalent of an 2-year or 4-year degree. There is no requirement to complete CA. This is an additional qualification that they can complete even before CA is completed.

After finishing CA, they can look at courses like CIA(Certified Internal Auditor) a Certification from the US, CFE(Certified Fraud Examiner), CFA(Chartered Financial Analyst), the CPA Certified Public Accountant (CPA) from US or Australia or ACCA(Association of Chartered Certified Accountants) from UK. These International Accreditation will definitely help you scale the hierarchy or move rapidly up the career path towards Management cadre in today's business scenario and having a prose investing in INDIA.

The older concept of doing CS or CMA alongside is not actually going to help you get to the Top Management cadre in today's scenario. All said, neither am i trying to negate the value of a CS or a CMA done alongside now, but we need to keep up with the market tempo and trends and understand that the value of a Duplet or a Triplet as perceived today.

I would recommend that students scale up their scope by looking at taking up additional certifications, research more on career scope either from immediate seniors, or online or with conversations with business leaders from the same background at career guidance sessions, so that they can make intelligent decisions about powering their career.

CISA, CFE, CPA, CFA or ACCA will give an additional boost to your qualification, while scaling up to International Standards which will open up a world of opportunities, and enable you to scale the ladder faster in Corporate fields or set up individual practice as and International Consultant in your specialization of choice.

The advantage of securing a CFO position in those days by becoming a Duplet or a Triplet, doesn't really exist anymore as compared to a CA with additional International Accreditation that will help the CA Aspirant reach the top of the corporate ladder faster. Stay at the moment, try to be different, choose a new path that works best for you, focus on the trends of today to help you find your niche.