What After CA?

What after CA

I strongly believe CA course provides you with complete knowledge overall all sectors like accounting, auditing, law, finance & taxation. But in this global competitive era people keep themselves upgrading through learning more and more.

 I am mentioning those study options, which I know of and can be done along with a job provided you are able to take some time off for studies.

1.       Courses that supplement CA degree - These are courses which are more or less similar to the CA syllabi and with which a normal CA student may be familiar with:

a.      CWA, CS → you can earn these qualifications by availing the benefit of exemption granted by these institutes for qualified CAs. CA+CWA can help you in manufacturing industries while CA+CS can help you in the service industry. For more details, check the websites of these institutes.

b.      Dip IFRS → it is a certification course offered by the ACCA Institute, London and is an accounting certification. Short term course and can help you if you are in audit/ accounting role in a company.

c.      CISA/ DISA→ Courses offered by CIMA and ICAI respectively. Mostly helps you if you are in auditing service line.

d.     CIMA/ CMA → CIMA degree is offered by CIMA, London while CMA is offered by IMA, USA. These degrees will help you if you are working in controlling function. In addition, these qualifications will be more useful if you are in Foreign MNC and in a business role.

e.      Post qualification courses by ICAI → ICAI offers many post qualification courses, which are useful for professionals in their respective service areas. Check more on this at The Institute of Chartered Accountants of India

f.       Certified Internal Auditor (CIA) → this is offered by Institute of Internal Auditors of India (IIAI) in conjunction with the Global Internal Audit Institute. This will be helpful if you are working in internal audit service field.

2.      Courses that are in addition to CA qualification→ these are the courses that differ in content, specialization and syllabi from the CA syllabi. The degree of difference may vary from course to course :

a.      Master of Business Admin. (MBA)→ You can obtain an MBA from good management institutes like IIMs, SPJ, FMS, JBIMS, etc. with a specialization of your choice. This is mostly helpful if you are interested in management role, business role different from the compliance/controlling role that a typical CA performs.

b.      Bachelor of Law (LLB) → if you are interested in working as a lawyer you may take up this course. It may be a full time course or a correspondent course.

c.      Chartered Financial Analyst (CFA) → CFA is offered by CFA Institute USA and is helpful to those who are particularly interested in securities markets. You can join a financial services industry like mutual fund, broker firm, and insurance firm with this degree.

d.     Financial Risk Management (FRM) → this course if offered by Global Association of Risk Professionals (GARP, USA). This will be particularly useful to you if you are interested in working in banking sector, insurance sector or as a risk management professional in consulting firms.

e.      Government service → you can take up studies for central services commission and become an IAS/IPS/IRS/IFS officer. The rigour of CA curriculum will help you with studying for these courses. However, to be done only if you are interested. Additionally, this cannot be done while you are working. This course needs 100% of your available time.

f.       RBI officer → Grade B RBI officer is a good opportunity for those who are interested in banking and want to work with Reserve Bank of India. The career growth is also lucrative and a good performer with regular promotions can reach up to the level of Deputy Governor of RBI.

There are many other opportunities available and it really depends on where you want to go and how do you see yourself in future. If you look at examples like Harsha Bhogle, Suresh Prabhu, Piyush Goyal, Kumar Mangalam Birla you will notice that they identified the area in which they were interested and pursued their path with dedication and commitment.

Saying so, I strongly believe that CA qualification is no way a lesser qualification. It gives a person necessary knowledge in the field of finance and there are many who rise to great heights only based on their CA degree. This is because the companies do not hire degrees, they hire a person. Degree gives them certain assurance but if you are able to prove your mettle with your skill-set then your career can advance even without degrees.