Outsourcing audit work to Indian CAs growing: CA Kachwala

Aurangabad, Aug 24:

“The outsourcing accounts audit service from other countries to Indian CAs is increasing for the past few years, specially in the post-Covid situation. One of the reasons is that our Chartered Accountancy course is considered to be one of the toughest professional courses across the world,” said CA Murtuza Kachwala, the chairman of Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI).

Addressing a press conference here at ICAI Bhavan on Wednesday, CA Murtuza Kachwala said that because of the toughness of the syllabus, Indian CAs can practise abroad just by qualifying one subject paper of the CA course of that country.

“Compared to China, Indian CAs get preference in outsourcing due to proficiency in English. Both Indian CAs and outsourcing firms earn good money on getting work from other countries,” he said.

When he was asked about the possibility of an economic crisis in the country on the line of Sri Lanka, he replied that country’s economy is very much strong.

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Trend of specialisation

CA Kachwala said that currently, CAs can do specialisation in different branches like International Financial Reporting Standards to become experts.

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World Congress of Accountants to be held 1st time

He said that the World Congress of Accountants (WCA) was established 118 years ago.

"For the first time, the WCA will be held in India (at Mumbai) between November 18 and 21. Around 6,000 delegates will participate physically while 10,000 delegates from different countries attend it virtually. A total of 3000 delegates from 70 countries have registered so far,” he said.

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WIRC has 1.25 L members

He said that WIRC of ICAI has 35 branches in Maharashtra, Goa and Gujarat states with 1.25 lakh members. Nearly 3 lakh students are pursuing the course within its jurisdiction.

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City branch felicitated WIRC office-bearers

Earlier, WIRC office-bearers were felicitated in a programme jointly organised by the city branch of ICAI and Western India Chartered Accountants Students Association (WICASA) at ICAI Bhavan today.

WIRC Chairman CA Murtuza Kachwala, its Vice Chairman CA Yashwant Kasar, Treasurer CA Piyush Chandak and Central Council Member CA Umesh Sharma were present.

During the felicitation ceremony CA Kachwala laid stress on improving Professionalism, Quality, Risk, Sustainability and Technology (PQRST) in the CA profession. He also asked CAs to prepare for global opportunities. WIRC chairmen emphasised on three Ps (Planate, People and Profit_ for the development.

CA Yashwant Kasar praised the city team for the enormous number of activities taken till today. CA Piyush Chandak congratulated city branch committee members for submission of Audited Accounts on the first day of the financial year itself. City branch chairman CA Yogesh Agrawal, secretary CA Kedar Pande, Treasurer CA Amol Godha, branch nominee CA Gautam Lath, WICASA chairman CA Mahesh Indani and branch committee member CA Rupali Bothara were present.