What after CA? Chartered Accountancy is the dream course that gives you an infinite career option. The opportunities in this course are unlimited which meets your interest, standard, and earnings. A Chartered Accountant has an option either to start his own practice or to serve a company.
Due to the expert knowledge in the various field, a CA can be appointed on many job profiles starting from Audit or Taxation to Investment and Finance. A soon as the result of the CA Final gets declared, the next question which bothers the candidates is what after CA?
Here we have listed some of the fascinating career opportunities one can go with after becoming a Chartered Accountant so clear the most unusual question, after CA what to do? –
Courses after CA
#1 ACCA (Association of Chartered Accountants) –
ACCA (Association of Chartered Accountant) is a global profession recognized in more than 180 countries throughout the world. It has been offering Chartered Certified Accountant Qualification since 1904. Till now, ACCA has 208,000 members along with 503,000 students. This course is offering you the knowledge of UK GAAP and laws and also certified you to practice as a CA in various countries. Although you need a CA degree to practice in India, ACCA along with CA offers you immense growth if you wish to serve an MNC in the future or want to settle abroad. Confused in ACCA vs CA? Follow the link to know it better…
The benefit of doing ACCA after CA is that ACCA recognizes the CA qualification and gives you exemptions for 9 papers out of 14 which means an Indian CA needs to give only 5 papers to widen his career scope.
#2 CFA (Chartered Financial Analyst) –
If Finance is your interest then CFA is a great option one can go with after pursuing CA. Areas like Investment Banking, Hedge Funding, Portfolio Management are going to be a great career option for one who completed CA and CFA both. The scope of CA may be limited to auditing the Balance Sheet and present views on the past event but CFA enhances their scope by analyzing the Financial Statements.
CFA is a globally recognized course and persists a graduate-level curriculum. One can enroll for CFA after completing graduation.
#3 CISA and DISA
You might have heard that CA’s can’t perform a system audit until they are possessing a CISA or DISA certificate in India. CISA is a globally recognized course offered by the ISACA while DISA has been recognized in India and offered by the Institute of Chartered Accountant of India. Both the courses will give you knowledge about the Information system and make you capable to do the IT Audit.
If you wish to perform the IT Audit in the future then you shall go with this course after becoming a Chartered Accountant. Only a qualified Chartered Accountant can apply for DISA.
#4 Post Qualification Courses Offered by ICAI –
ICAI offers various post-qualification courses like Diploma in Insurance and Risk Management, International Trade Laws and World Trade Organization, Management Accountancy Course, Corporate Management Course, Tax Management Course, Diploma in International Taxation etc. One can enroll for any course after becoming a Chartered Accountant according to his/her area of interest.
These are the few courses one can go with after completing his/her Chartered Accountancy. Although, CA is complete in itself still these courses not just help to enhance your knowledge but also increases someone’s chances to be selected at multiple roles depending on your area of interest.
Career Options after CA
As we discussed that CA is complete in itself, ask someone who has completed Chartered Accountancy. There are immense career opportunities available for a qualified Chartered Accountant. Some of them are listed here. Have a look below-
#1 Internal Auditor
As we know, that CA’s are only authorized persons to audit the Financial Statements of an organization. Hence, the demand for Chartered Accountants in the Audit sector is always high, and also this is the job where a CA gets a better salary increments. However, the work pressure is really high in this job profile. After completing the CA Inter, one can join a company as an Internal Auditor. Although, various companies and banks have their own provisions which require only a qualified Chartered Accountant can join them as an Internal Auditor rather than a CA Inter passed candidate.
#2 Direct and Indirect Taxation
Well, CA’s are also known as the Taxation Expert. After becoming a Qualified Chartered Accountant, one can start practicing in either Direct (Income Tax) or Indirect taxation (GST and other laws) and with the implementation of new tax laws in our country, the scope of CA is getting wider in this field.
In order to represent an assessee in the front of the Assessing Officer, one must possess a COP from the Institute of Chartered Accountants of India.
#3 Finance Management –
CA possess a wide knowledge of Finance, therefore, many companies look for a Qualified Chartered Accountant to handle the Financial Matters of the Company. This job profile is highly reputed and needs one to possess a lot of technical skills.
One must update himself with the industry trends, understand the most profitable investments, forecast the organization’s business, and thereafter advise the organization.
#4 Banking and Insurance
A general accountant neither expects to handle the critical accounts of the bank nor they could prepare its Financial Statements as per the Banking Regulations and norms.
The person who is handling the Banking Accounts must be well versed with the Banking Regulations, its compliance, and other norms. S/he should be capable enough to participate in the Financial Matters of the Bank and work on their Financial Strategies, control, funding, forecast etc.
#5 Join a CA Firm
Do you want to try all the above tasks then surely you should start your own practice but it very difficult to start your own practice as soon as you qualify for your CA Final Exam? As a fresher, you are lack of Experience dealing with a client or Assessing officers and lack of investment as well.
Thus, if you want to start your own practice in the future then you should initially join some CA Firm. Your initial pay might be lower than industry but if you succeed in starting your own practice then the scope will be unlimited.
Conclusion – In the above article, we have shared a number of career options one must possess after becoming a Chartered Accountant. You should choose the option as per your interest and ability. Hope you like this article hence kindly share it so that the maximum people can get its benefit.
Frequently Asked Questions
Q1. For CA candidates which is the best career opportunity after CA?
Career opportunities like an internal auditor, direct and indirect taxation, finance management, banking, and insurance, or joining a CA firm after CA are all the best career opportunities after CA. For a detailed explanation, you can go through this page.
Q2. Is pursuing CA worth it for candidates?
Yes, absolutely. CA is a very reputed course all over the country with good salary packages. It also helps students to enter into the corporate world with high packages and with a good position.
Q3. Does CA provide a good job to the candidates after completion of CA?
Yes, after completion of CA, candidates can even join a private job or can join a government job. After completing CA, candidates have vast career opportunities.
Q4. After completion of CA do candidates get good salary packages?
Yes, after completing CA candidates get a good salary package job. The starting salary package of a CA is starting from 7 to 8 lakhs per annum.