After a CA student is done with its CAF level and article ship, there are numerous opportunities leading their way. However, confusion arises as which way to go because in an audit firm, CAs are told how to work in audit, taxation, advisory, bookkeeping and more. So when an internee leaves an audit firm, he/she has a variety of options to choose from. Picking the right profile matters a lot because choosing the right profession gives job satisfaction & professional growth. There are endless opportunities for CAs. Consider below conventional & upcoming career choices that chartered accountants can choose from:
AUDIT & TAXATION
There are various sub-branches of audit & taxation. Under the head of audit there is
Statutory-audit
SOX-audit
Tax-audit
Internal-audit
Certification for the work
IT-audit
In case of taxation there is direct & indirect taxation. Direct taxation deals with
Tax filings & compliances
Appeals & proceedings
Transfer pricing
International taxation
Taxation advisory regarding acquisitions & mergers, etc.
Indirect taxation relates to
Excise
Customs
IDT compliances
Service tax
Valuation
M&A advisory
Appeals & proceedings
Among all professions for chartered accountants, auditing & taxation are the ones most chosen from. These are evergreen fields for CAs. There are multiple market factors upon which demand for the qualified professionals depend. Pay scales in turn are also affected by such market factors. These areas also help CAs build a reputable profession. As general public is not well aware of and does not know how to manage audit & tax matters, they greatly rely on such tax & audit advisors and give them lots of respect as well.
As far as creativity and change is concerned, tax is preferable because audit procedures are more or less same for all industries whereas tax requires being updated with latest amendments, judgements and notifications.
These fields have varying characteristics although some similarities do exist. All these are glamorous fields that can add to the CV of any CA professionals. These fields are also very rewarding with regard to remuneration and job satisfaction. These areas require extreme professionalism and only professionals like experienced CAs and CFA are required by the employers. Another factor that affects these fields is market conditions that affect both recruitment & business. Business in such fields is however not guaranteed and there is slow growth rate during recession periods.
We will come forward with further job options for CAs. Be focused, be professional and there is no limit to which you cannot go.
