CA bridge between fiscal administration

Rajkot, Apr 28 (UNI) With expanding horizons and changing business needs, the Chartered Accountants are today a bridge between fiscal administration and business community, feels Sunil Talati, President of the Institute of Chartered Accountants of India (ICAI).

Addressing mediapersons here last evening, Mr Talati said in the last five years, the fiscal laws have changed substantially. India is now in the era of globalisation. Many new taxes are introduced.

The statutory reporting now requires more technical details and only a qualified chartered accountant can handle such a situtation.

He said the wings of the profession have achieved new heights because of expanding horizons and they now cater to various business needs in addition to the age-old function.

In fact, a CA is now a bridge between the fiscal administration and business community, he said.

In the new scenario, the chartered accountant is not only a certifier of the quality of accounts, but also a business advisor.

He helps to make decisions on the acquisitions, mergers and demergers of business in a realistic shape, taking crucial business decisions, finding new financial sources for business development, tax planning and fulfilling compliance requirements, thus bringing sick units to a healthy position, Mr Talati said.

He said the education that the Institute imparts is of the international standards and also includes a practical training in its curriculum, helping the aspirants to attain high level of skills.

The job prospects of fresh CAs have improved considerably and the general pay packages now range between Rs four and six lakh per annum, he said.

Mr Talati is the first president in the history of ICAI to be elected from Gujarat. He is actively associated with the Central Council since 2001 and has held many positions in the domestic and international arena.

UNI