Members in Industry - Key Changes

Members in Industry – Key developments

CA K. Raghu, Central Council Member, Institute of Chartered Accountants of India

IFRS Convergence – ICAI Roadmap

• Committed to meet the deadline of 1st April 2011 for convergence of Indian Accounting Standards so select entities as per roadmap of Ministry of Corporate Affairs.

• Accounting Standards Board has completed the task of formulating 32 new fully converged Indian standards

• NACAS has also approved most of them and it is expected to be notified shortly

• Nationwide campaign to spread awareness about IFRS convergence amongst members and other stake holders

• Certification and E-learning courses to empower members – 38 batches completed and more then 2000 have participated in the certification programme

• Conference and Workshops across the country jointly with MCA

• Direct Tax Issues arising because of convergence being handled by a Expert Group


Companies Bill 2009 and Direct Tax Code• ICAI has sent its reccomendations to

the Parlimentary Standing Committee on Finance on the Companies Bill

• Memorandum submitting our suggestions on the Direct Tax Code sent to the Ministry of Finance

• Setting up of LLP’s in the auditing profession – will be a reality shortly


XBRL India

• ICAI sponsors a new XBRL India jurisdiction• Section 25 Company incorporated to promote

XBRL in India• Extensible Reporting Language gaining

momentum across the world• XBRL Tools, Taxonomy development and

membership development is the new agenda for XBRL India


Opportunities for members in the Middle East• Chapters in Dubai, Abhudhabi, Bahrain,

Muscat and Ras Al Khaimah • Gulf placements for CA’s is being

organised for the first time• Excellent job opportunities for both

members in practise and industry• Articelship training now permitted for

overseas members


Mutual Recognition with other countries• MRA with Ireland, Australia and United

Kingdom• Global opportunities currently for

members in many countries• CA’s with IFRS knowledge will have

great demand• IS Audit, ERP Implementation

opportunities on the rise


Committee for Members in Industry

• To organize campus interviews for newly

qualified Chartered Accountants seeking employment through the Institute.

• To explore and develop new avenues of employment for Members in Industry.

• To provide sector specific assistance in improvement of skills of Members in Industry.

• To consider the problems and issues pertaining to the career planning, ethics and other related matters of the Members in Industry.



• To popularize the Placement Portal of the

Institute. • To bring out background materials/publications

relevant for Members in Industry. • To organize programmes on the topics relevant

to the Members in Industry. • To develop a sector-wise data bank of the

Members in Industry and continue to develop their involvement in the mainstream of the Institute.



• To encourage and recognize the Corporate entrepreneurs of our profession i.e., Corporate MDs, Chairmen, Presidents, etc. in Industry.

• To consider the ways and means to enhance the participation of the Members in Industry in the activities of the Institute.


Campus Placement Programme August –September 2010

• Highest salary offered in the Campus Placement Programme is Rs 21 Lacs p.a for internationl posting and 15 lacs p.a for domestic posting.

• The Minimum Salary paid is Rs. 3.25 Lacs p.a.• Around 1398 jobs were offered to the candidates who

participated in Campus Placement Programme.• 88 entities including the Corporate organizations and

the Chartered Accountancy Firms have participated during the Campus Placement Programme.

• Total No. of Candidates selected and accepted the offer were 1144 .

• 156 Interview Panels have participated during this Campus Placement Programme

• Providing placement through Job Portal (http://jobs4cas.icai.org)

• Formation of CPE Study circles

• Introducing National Young CA in Industry Award

• Conducted Corporate Forum 2010

• Conducting Programmes and workshops for members in Industry

• Conducting HR Meets

• Organising Special placement Programmes

• Publications for members as well as Newly qualified CAs

• Webcasting with eminent leader in profession

JOB PORTAL (http://jobs4cas.icai.org)

The ICAI Job Portal (http:\\jobs4cas.icai.org) is primarily focused on Experienced Chartered Accountants and Accounting Technicians. Through this our committee is constantly providing its services to recruiting entities and providing a standard platform to jobseekers, so that they have a good number of career opportunities in their hands.


Features of the Job Portal for employers • Job Postings Services • Resume Database Access Subscription • Advanced Search Tools for recruiting

entities• Companies can reach to desired

employees through Job Alerts• Unlimited writing for Job Advertisement• Extremely fast display of Job Advertisement• Facility to monitor the activities done

through the Account.



Features of Job Portal for Candidates • Update Alert for CV• Job Messenger and SMS Facility• Email Alerts• Resume Building Services• Job Search Facility on the Basis of Functional

Area ,Industry,Experience,Locations,Expected Salary,Job Type,Freshness etc

• Covering Letter Option• Hot Employer/Preferred Employer marking

facility

Placement Portal http://www.cmii.icai.org

• The placement portal of ICAI provides the placement services to Experienced as well as Newly Qualified Chartered Accountants, it includes all the important announcements, knowledge dissemination, News, Job postings and information pertaining to Committee for Members in Industry.

• The portal provides an opportunity both to employing organisations as well as young professional aspirants / experienced professionals to meet and explore the possibility of taking up positions in Industry.

• It also provides an opportunity to professionals in Finance and Accounting and the industry to interact with the objective of building capacity for an international best practice oriented finance and accounting culture in Indian Industry

Good luck to all of you

Thank you


Members in Industry - Key Changes

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