CA... one of the most higly rated career options in the commerce field. What can i say about it... well for one.. Sadly it has deviated from the reason it was formed...
The ICAI was formed under statute in order to conduct audit, inspections, investigations and issue stautory compliance certificates etc. But now the course that the students are learning does not ensure that the student who is passing the exam is equiped to do justice to the core reason for the formation of the Institute.
The present curriculum drafted is to compete with professionals like MBAs CS and ICWA. Is it funny how non-core areas are given the same importance as core areas. Auditing and accountancy (core areas) are kept in par with other non core areas including Managment and Information Technology.
With due respect i am not saying that Info Tech is not important but my point is that there is no use if a guy scores 40 odd in core subjects and performs exceptionally well in non-core subjects and is branded a CA. The whole idea sounds absurd. A guy who scores high in core areas, just because he is weak in a non core area is not branded a CA whereas he is more equiped than the former to conduct an audit or do justice to the profession.
Its sad that the Institute has forgotten its objective. High weightage should be given to core subjects and low weights to non-core subjects. or at least the benchbark for passing should be lowered for non-core and raised for core subjects.
Irfan Pathan is a good batsman maybe he outperforms some of the porper batsmen in the Indian team. But he is not in the team. Why? because he is a specialized bowler he has to earn his place in the team by taking wickets and not scoring runs. simmilarly a CA should be specialize in audit and accountancy and not a Info Tech master (just an example; for that matter even FM)
The reason I feel this deviation is thst the ICAI is feeling the pinch of competition with MBAs CS and ICWAs. but hey come on the ICAI should not lower its standards just for the sake of Competition. By expecting a student to concentrate equally on core and non-core subjects they are turning them into a jack of all trades and a master of none.
A CA student should master Audit and Accountancy all other subjects are just to guide them to achieve mastery in audit and accounts and not to be in par with the two.
The ICAI is privilaged to have statutory backing but if sub-standard CAs come into market and frauds etc continue then maybe ICAI will lose its stautory backing or may have to share it with some other body.
Jaago ICAI Jaago.. The Satyam fiasco should be an eye opener...
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Interestingly, in my engineering college and most of the reputed institutions, we used have credits (weightage based system) system. Useless subjects used to have less credits and the core subjects used to have more. Given that CA is a Professional course, they can have system where they can have a binary system for non-core subjects (Only pass or fail, no marks). The core subjects should form the only basis for % calculation and grading.
ReplyDeleteAlas, who is going to listen to aam junta. =)
@ AM: hey if they did do that it would be gr8 but as u say all our requests will just go to deaf ears.. :-(
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