The Hindu Business Line : Brand CA

The the Institute of Chartered Accountants of India (ICAI) is going global. It recently opened a New York chapter to promote the profession. This chapter will certainly help members based in the US to co-ordinate and exchange information. But this alone will not help promote the CA brand in the US.

The CA programme is definitely rigorous but it lacks global recognition. To attain brand recognition the ICAI has to focus on two key initiatives — aggressively negotiate with major accounting bodies around the world and promote the CA brand.

Unless these two initiatives are pursued the brand will not get recognised globally and CAs will not be able to grab the opportunities the global economy offers.

There are huge opportunities in the global economy, but these will not be realised unless the core issue of recognition of CA by other accounting bodies is addressed. While full recognition may be not be possible in the short run, efforts have to be taken to achieve partial recognition that will set the stage for promoting the CA brand.

With global accounting bodies moving towards IFRS, it opens more doors for CAs. But adoption of IFRS alone will not help CAs — reciprocal recognition and brand recognition are a must.

Global recognition

Unlike software, accountancy worldwide is a certification based profession. Without their certification being recognised in some form, it will be extremely difficult for CA graduates and firms to convince global organisations about their value.

CA has the potential to be a global brand, but reciprocal recognition is a big challenge that needs to be taken head-on.

Recognition strategy has to be based on tactics to achieve partial to full recognition with major accounting bodies of the CA brand. And this has to be followed up with effective brand promotion among accounting firms, corporations and the academic world. To tap the huge opportunities in the global economy for the accounting profession and CAs, the core issues have be addressed — otherwise the rubber will not meet the road.

(The author is a US-based chartered accountant. blefeedback@thehindu.co.in)

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