The Hindu Business Line : Reforming the exam system is a continuous exercise

Reforming the exam system is a continuous exercise. We do not expect to make changes every year, but will keep a regular watch and see how best we can amend, alter and update the syllabus and the course.

MR SUNIL TALATI, President, ICAI.

Mr Sunil Talati, who assumed charge as president of the Institute of Chartered Accountants of India (ICAI) earlier this month, spoke to Business Line on issues of interest to students.

What are your readings of the trends in the growth of membership and student numbers? What is the ideal accountant-population ratio?

After the change in the CA curriculum and training pattern for students joining the course, the response has been overwhelming. But even if the number of members goes up from the current 1,35,000 to 2,00,000 in the next five years, there will still be a shortage of chartered accountants. For students, my aim is "Catch them Young" and "Spot the Talent". Our focus will be not only to get the bright students in their 10th and 12th standards to join the course but also help them get through the course quickly.

Is the response for the new course, the common proficiency test (CPT), as per your expectations? Are there enough apprenticeship vacancies for eligible students?

The response has been better than expected. There are sufficient vacancies to train articles. As per the ICAI's records, as against 1,06,000 vacancies as of today, around 45,000 are available for new students to join articleship.

The temporary hue and cry is only because most of the students want to join firms with big reputations, rather than appreciating the fact that small- and medium-sized firms provide equally good training.

Are you contemplating any reforms to the exam system?

Reforming the exam system is a continuous exercise. We do not welcome and expect changes every year, but keep a regular watch and see how best we can keep amending, altering, updating the syllabus and the course.

Have campus recruitments been successful? How many CAs benefit from these and do you see the pay offers becoming increasingly attractive?

Campus interviews at the ICAI have been a big success. Almost all the chartered accountants who apply and appear in campus interviews get placements immediately. Last year the highest salary offered to a CA rank holder was Rs 15 lakh per annum, but this year the top salary touched Rs 27 lakh per annum.

Are CAs in industry predominantly stuck only to finance and accounts/audits?

The recent involvement of chartered accountants in mergers, amalgamations and takeovers clearly prove that their services are not confined to finance and accounts. They are proving themselves in business consultancy services and are helping managements take crucial decisions. The contribution of Mr Arun Gandhi in Tata's takeover of Corus and the role of Mr Gautam Doshi in Reliance are but a few examples.

Are any new post-qualification courses on the anvil?

This is also a continuous exercise, based on the requirements of the time. We are now going ahead with the post-qualification course on international taxation. The Council will introduce the syllabus and examination pattern this year itself. Other such courses, based on global developments, will be taking place from time to time.

Ongoing research in the ICAI.

Research and development in the accounting and auditing profession is the need of the hour. We have a Technical Directorate to look into this matter. We have a Research Committee which has brought out a vision document. The President, Dr A. P. J. Abdul Kalam, in his address to the members of the ICAI, asked them to have a vision document for the next 40 years and we are working on that. Besides this, based on international developments and requirements, we are undertaking research in various accounting standards, auditing standards and other related areas.

Any other points of interest?

The ICAI today is the second largest accounting body in the world. Our chartered accountants are seen as "a rare combination of knowledge, perseverance and integrity, coupled with acumen of analytical skill and the ability to perform and deliver under pressure in any environment."

As the 55th President of the ICAI, it would my endeavour to see that we grow not only in numbers but are also able to render qualitative service, not only in India but the world-over. I am conscious about the huge demand for our chartered accountants in various parts of the world, particularly in the US, the UK, Australia, New Zealand and the Middle-East.

We want to see that our chartered accountants are second to none. I want to see leading businessmen of the world mention in their annual reports the contribution made by our chartered accountants.

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Reforming the exam system is a continuous exercise