What should I do along with my CA or after finishing my CA?
A question that
constantly runs in the minds of CA Aspirants, yet many a time, they are unable
to find answers to it at that time. First of all, many seniors or previous-gen
of Chartered Accountants, often suggest students take CMA or CS along with
their CA, encouraging them to become a 'Triplet' or 'Duplet'
However, gone are the
days when to become a CFO, you should be either a Triplet or 'Duplet'. Today to
become a CFO or the head of an organization or to be a part of Top Management,
you don't need to have three different professional certifications from the
same country. It’s enough if you are just a Chartered Accountant.
Having said that is
Chartered Accountancy certification alone enough, for the rapid changes in the
business, economy. Technological advances that are consistently happening in
I will suggest that in an effort to keep up with the trends and to be updated in all core fields, a student should also look at something else, not CS OR CMA, but something else that couldn't give them a competitive advantage. While pursuing CA, the student would be doing B. Com, and after those three years, the student will still be doing CA final assuming that the student has passed Foundation; Intermediate in the first attempt.
The student can consider taking up CISA SS(Certified Information System Audit) from the USA, which will get them the qualification of Information System Auditor, even before the CA Aspirant qualifies to be a Chartered Accountant.
The qualification for entry to CISA is just being a graduate or 60 to 120 completed university semester credit hours (the equivalent of a 2-year or 4-year degree. There is no requirement to complete CA. This is an additional qualification that they can complete even before CA is completed.
After finishing CA, they can look at courses like CIA (Certified Internal Auditor) a Certification from the US, CFE (Certified Fraud Examiner), CFA (Chartered Financial Analyst), the CPA Certified Public Accountant (CPA) from the US or Australia or ACCA (Association of Chartered Certified Accountants) from the UK. This International Accreditation will definitely help you scale the hierarchy or move rapidly up the career path towards Management cadre in today's business scenario and having prose investing in INDIA.
The older concept of doing CS or CMA alongside is not actually going to help you get to the Top Management cadre in today's scenario. All said, neither am I trying to negate the value of a CS or a CMA did alongside now, but we need to keep up with the market tempo and trends and understand that the value of a Duplet or a Triplet as perceived today.
I would recommend that students scale up their scope by looking at taking up additional certifications, research more on career scope either from immediate seniors or online or with conversations with business leaders from the same background at career guidance sessions so that they can make intelligent decisions about powering their career.
CISA, CFE, CPA, CFA or ACCA will give an additional boost to your qualification while scaling up to International Standards which will open up a world of opportunities, and enable you to scale the ladder faster in Corporate fields or set up individual practice as an International Consultant in your specialization of choice.
The advantage of securing a CFO position in those days by becoming a Duplet or a Triplet doesn't really exist anymore as compared to a CA with additional International An accreditation that will help the CA Aspirant reach the top of the corporate ladder faster. Stay at the moment, try to be different, choose a new path that works best for you, focus on the trends of today to help you find your niche.