Professional Opportunities For C As Mar09 Linkedin

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A recent presentation that i gave to newly qualifies Chartered Accountants at a pre-placement talk.

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Professional Opportunities For C As Mar09 Linkedin

  1. 1. Professional Opportunities for Chartered Accountants CA Vinit V Deo l Vice Chairman l Pune Branch of WIRC of ICAI
  2. 3. Outline <ul><li>Aspirations </li></ul><ul><li>Opportunities </li></ul><ul><li>New Areas </li></ul>
  3. 4. Aspirations
  4. 5. Old Saying <ul><li>Those who can; Do </li></ul><ul><li>Those who can’t; Teach </li></ul><ul><li>Those who can’t teach: Administer </li></ul>
  5. 6. Know Yourself
  6. 7. Opportunities
  7. 8. Audit <ul><li>Traditional Areas </li></ul><ul><li>Statutory </li></ul><ul><li>Internal </li></ul><ul><li>Management </li></ul><ul><li>Bank </li></ul><ul><li>New Areas </li></ul><ul><li>Risk Assessment </li></ul><ul><li>Operational Audit </li></ul><ul><li>Cost Savings </li></ul><ul><li>Legal & Secretarial </li></ul><ul><li>Environmental Audit </li></ul><ul><li>ISO / Quality Systems </li></ul><ul><li>Due Diligence </li></ul>
  8. 9. Fraud & Forensic Audit <ul><li>Risk Management practices </li></ul><ul><li>Setting Control Systems </li></ul><ul><li>Forensic Audit </li></ul><ul><li>IT Systems assessment </li></ul><ul><li>Background Checks </li></ul><ul><li>Third Party verification </li></ul><ul><li>Data Analysis </li></ul>
  9. 10. Taxation <ul><li>Traditional Areas </li></ul><ul><li>Tax Planning </li></ul><ul><li>Return Filing </li></ul><ul><li>Assessments </li></ul><ul><li>Litigation </li></ul><ul><li>New Areas </li></ul><ul><li>International Taxation </li></ul><ul><li>Transfer Pricing </li></ul><ul><li>Structuring </li></ul><ul><li>Agreements </li></ul>
  10. 11. Litigation Services <ul><li>Income Tax Appellate Tribunal </li></ul><ul><li>National Company Law Tribunal </li></ul><ul><li>Competition Commission </li></ul><ul><li>Excise & Customs Tribunals </li></ul><ul><li>Service Tax Tribunal </li></ul><ul><li>Arbitration & Conciliation </li></ul>
  11. 12. Information Technology <ul><li>Enterprise Resources Planning </li></ul><ul><li>Product Development </li></ul><ul><li>Testing </li></ul><ul><li>Deployment </li></ul><ul><li>Training </li></ul><ul><li>Support </li></ul>
  12. 13. Information Technology ERP <ul><li>With sound financial domain knowledge, good analytical skills, logical thinking and process understanding, a CA would be able to ideally plug into this position as an ERP Consultant. </li></ul><ul><li>Types of Services provided by CA’s </li></ul><ul><li>Pre ERP implementation Business Process Reengineering exercise </li></ul><ul><li>ERP Readiness assessment </li></ul><ul><li>Strategy setting and roadmap </li></ul><ul><li>Product selection & Implementor </li></ul><ul><li>Master Data Migration </li></ul><ul><li>Organisation Structure Definition etc. </li></ul>Focus on SMEs
  13. 14. BPO / KPO <ul><li>The work to be performed in the KPO industry is of a specialised nature. CA’s with considerable exposure to trade & industry together with accounting & auditing hold an advantage over professionals from different backgrounds. </li></ul><ul><li>Types of KPO Services provided by CA’s </li></ul><ul><li>Business & Technical Analysis </li></ul><ul><li>Legal Services </li></ul><ul><li>Assets Record keeping & verification </li></ul><ul><li>Taxation Consultancy </li></ul><ul><li>Data Analytics </li></ul><ul><li>Research & Development </li></ul>
  14. 15. BPO sector growth <ul><li>NASSCOM estimates that BPO sector will grow from $ 11 billion (2008) to $ 30 billion in 2012. </li></ul><ul><li>Indian BPOs employs 750,000 people, about 35% of world-wide BPO employment. </li></ul><ul><li>Finance and Accounting (FAO) is a fast growing sector within BPO landscape </li></ul>www.oats.co.in
  15. 16. Opportunities for CAs <ul><li>Entry level </li></ul><ul><ul><li>Process associate </li></ul></ul><ul><ul><li>Team member </li></ul></ul><ul><ul><li>Analysts </li></ul></ul><ul><li>Middle management </li></ul><ul><ul><li>Team leaders </li></ul></ul><ul><ul><li>Consultants </li></ul></ul><ul><li>Senior management </li></ul><ul><ul><li>COO/ CFO/ CEO level </li></ul></ul><ul><ul><li>Other functions such as marketing, business development </li></ul></ul><ul><li>Entrepreneurs </li></ul><ul><ul><li>Domestic companies </li></ul></ul><ul><ul><li>Tapping the potential for growth by setting up own companies/ networking with other entrepreneurs </li></ul></ul>www.oats.co.in
  16. 17. Management Consulting <ul><li>Strategic Planning </li></ul><ul><li>Financial Management </li></ul><ul><li>Cost Control & Reduction </li></ul><ul><li>Performance Improvement </li></ul><ul><li>Cash Flow Planning </li></ul><ul><li>Management Reporting </li></ul>
  17. 18. Emerging Areas
  18. 19. Media <ul><li>Research </li></ul><ul><li>Writer / Editor </li></ul><ul><li>Reporting </li></ul><ul><li>Analysis </li></ul><ul><li>Special Features / Domains </li></ul>
  19. 20. Deepa Venkatraghvan Personal Finance Editor – Web18 (the internet arm of the CNBC TV 18 group)
  20. 21. CA Deepa Venkatraghavan <ul><li>Pursuing CA, was not something Deepa had </li></ul><ul><li>planned to do. When she chose the commerce </li></ul><ul><li>line post class X, she had wanted to pursue her </li></ul><ul><li>MBA. However, on the insistence of her dad, </li></ul><ul><li>she enrolled for CA. But by the time she </li></ul><ul><li>completed her CA, she realised that her true </li></ul><ul><li>calling was elsewhere. </li></ul><ul><li>She had a flair for writing and throughout school </li></ul><ul><li>and college had had her articles published in </li></ul><ul><li>local newspapers. But it was not possible to </li></ul><ul><li>change course, having spent 3 years putting in </li></ul><ul><li>so much hard work to become a CA. </li></ul><ul><li>So she decided to blend her qualification </li></ul><ul><li>and her ability to write to become a financial </li></ul><ul><li>writer. She was lucky to get her first break with </li></ul><ul><li>the Economic Times in Mumbai and after </li></ul><ul><li>working there for 2 years she moved to the </li></ul><ul><li>medium of the future – Web news. </li></ul>
  21. 22. Profiles held so far <ul><li>Wrote weekly columns on personal finance and finance for women in the Economic Times </li></ul><ul><li>Contributed to Investor Year Books brought out by the Times group from 2003 to 2005 </li></ul><ul><li>Conceptualised the personal finance section, Wealth, on moneycontrol.com </li></ul><ul><li>Is responsible for content and traffic on wealth section; including liasing with sales and marketing for special properties </li></ul><ul><li>Powers research for the personal finance show on CNBC Awaaz, The Gaurika Chaudhary Show and on CNN IBN, All about the Money. </li></ul>
  22. 23. Career Highlight <ul><li>Has written two books on personal finance: </li></ul><ul><li>- What your financial agent will tell you and why you shouldn’t listen </li></ul><ul><li>- Everything you wanted to know about investing in difficult times </li></ul>
  23. 24. Career opportunities for CAs in the media <ul><li>As CAs, we have a cutting edge simply because of our solid basics of concepts. Here is what CAs can do in the media: </li></ul><ul><li>Research analyst/ reporter in business newspapers and websites: Writing skills are important </li></ul><ul><li>Research analyst/ reporter in business television channels: Speaking skills are important </li></ul><ul><li>In both cases, a reporter is given a specific beat to handle, such as banking or pharma or IT or cement etc. In my case it was personal finance. The reporter is required to build contacts in that sector and break news and provide analysis on the impact of the news on various sections of news watchers. </li></ul>
  24. 25. Challenges for CAs <ul><li>Need to develop basic skill sets </li></ul><ul><li>Need to be extremely creative and on your toes: Media is full of young people and we need to keep up with them </li></ul><ul><li>Should be willing to explore new roles and learn new things; for instance my profile needs me to understand web interface and web technology </li></ul>
  25. 26. Insurance <ul><li>Insurance business is offering exciting new opportunities to the CA’s. The emerging sector has thrown open challenging jobs for the Chartered Accountants in the Finance, Risk Management, Planning and Operations functions in Insurance Companies. </li></ul><ul><li>Types of Services provided by CA’s </li></ul><ul><li>Product Designing </li></ul><ul><li>Risk Assessment of operational concerns </li></ul><ul><li>Creating an audit framework </li></ul><ul><li>Compliance with regulations & legal requirement. </li></ul><ul><li>Loss Assessment </li></ul><ul><li>Insurance Broking </li></ul>
  26. 27. Investment Advisory <ul><li>Financial Planner </li></ul><ul><li>Stock Broking </li></ul><ul><li>Insurance Broking </li></ul><ul><li>Mutual Fund Distribution </li></ul>
  27. 28. Venture Capital <ul><li>Investment Advisor </li></ul><ul><li>Analyst </li></ul><ul><li>Due Diligence </li></ul><ul><li>Domain Expert </li></ul>
  28. 29. Corporate Restructuring <ul><li>Corporate Structuring </li></ul><ul><li>Due Diligence </li></ul><ul><li>Valuation </li></ul><ul><li>Tax Planning </li></ul><ul><li>Project Management </li></ul>
  29. 30. Asset Restructuring Cos. <ul><li>NPAs and bankruptcies are a huge problem globally </li></ul><ul><li>NPA Audit </li></ul><ul><li>Distressed Assets identification </li></ul><ul><li>Revival Plans and Schemes </li></ul><ul><li>Performance Monitoring </li></ul><ul><li>Securitisation & Debt Restructing Acts </li></ul>
  30. 31. Investment Banking <ul><li>Fund Raising </li></ul><ul><li>Preparation of Documents like Prospectus, Financial Model etc </li></ul><ul><li>Mergers & Acquisitions </li></ul><ul><li>Due Diligence </li></ul><ul><li>Legal & Secretarial </li></ul><ul><li>Valuation </li></ul>
  31. 32. Banking <ul><li>Retail Banking </li></ul><ul><li>Client Relations </li></ul><ul><li>Accounting </li></ul><ul><li>Audit </li></ul><ul><li>Risk Management </li></ul><ul><li>IT Systems </li></ul><ul><li>Training </li></ul>
  32. 33. Financial Services <ul><li>Mutual Funds </li></ul><ul><li>Stock Broking </li></ul><ul><li>NBFCs </li></ul><ul><li>Insurance Broking </li></ul>
  33. 34. NGOs <ul><li>Charities are getting professionalized due to significant Corporate donations </li></ul><ul><li>Financial Planning </li></ul><ul><li>Spending Audit </li></ul><ul><li>Effectiveness Audit </li></ul><ul><li>Funds Management </li></ul>
  34. 35. Environmental Consulting <ul><li>Environment is a key issue on the agenda of the Government as well as Private Sector </li></ul><ul><li>Environment Audit </li></ul><ul><li>Sustainability Reporting </li></ul><ul><li>Carbon Credits </li></ul><ul><li>Subsidies & Grants </li></ul><ul><li>Project Accounting & Control </li></ul>
  35. 36. Foreign Trade <ul><li>Transaction Structuring </li></ul><ul><li>Financing </li></ul><ul><li>Logistics & Documentation </li></ul><ul><li>Trade Remedies (Anti-Dumping etc) </li></ul><ul><li>Government Liasoning </li></ul><ul><li>Commercial Arbitration </li></ul><ul><li>SEZ / EOUs </li></ul>
  36. 37. Government <ul><li>Indian Revenue Service </li></ul><ul><li>Indian Administrative Service </li></ul><ul><li>CAG Office </li></ul><ul><li>“ Navratna” PSU Units </li></ul><ul><li>Consultants </li></ul><ul><li>PPP Projects </li></ul>
  37. 38. Training <ul><li>Corporate Training </li></ul><ul><li>Coaching Classes </li></ul><ul><li>MBA Institutes </li></ul><ul><li>Universities / Colleges </li></ul><ul><li>Training Material </li></ul><ul><li>Web Based training </li></ul>
  38. 39. Thank You +91 98220 88313 [email_address]

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