Chartered accountancy course in India involves a mandatory 3-year long practical training phase, pursued immediately after completing Intermediate Group 1 as well as both ICITSS-OC and ITT. This is known as CA articleship, where students work on assignments under a chartered accountancy firm, gaining valuable insight on realistic work which they are to follow in their career.
Chartered accountants and CA articleship
- There are more than 2.82 lakh chartered accountants in India, out of whom approximately 1.25 lakh are in full-time practice.
- There are a total of 71,223 (as of 2018) CA firms across the nation, including proprietary and partnership firms. A significant number of these organizations offer articleship programs.
- During CA articleship, a student benefits from a stipend, ranging from Rs.750 to Rs.15,000, as according to the guidelines instituted by the ICAI (Institute of Chartered Accountants in India.)
During articleship, the aspirant gains a much needed hands-on experience from the CA firm to help hone the necessary skills and qualities demanded from a chartered accountant. Prospective chartered accountants learn substantially from their first organization, vital to start their own practice or seek employment in the future.
These grounds necessitate selecting a chartered accountancy firm that offers the best facilities, widest exposure to a varying group of customers, and better chances of employment to every aspirant. CAs should select from the top companies, which offer them maximum benefits during their CA articleship period.
Best CA firms in India
There are several different national and international CA firms present in India, with branches in almost every major city. Let’s take a look at some of them.
- Deloitte – Deloitte is considered as the largest professional services provider in the world, both in terms of revenue, and the number of professionals working with them. Originally from UK, this accountancy firm primarily deals with financial consultation and advisory services, tax, auditing, etc.
Deloitte has a footprint in over 150 countries, working with some of the most renowned brands in the world. It also has a significant presence in the Indian sub-continent, which is why completing CA articleship with this firm presents one of the best opportunities for prospective chartered accountants to jumpstart their careers and learn the top emerging trends for CAs.
- PWC – PWC, or Price Waterhouse Coopers, is another multinational professional services network, standing as the world’s 2nd largest professional services network in terms of revenue (as according to data published in 2014). Similar to Deloitte, PWC also has a large footprint in India, with offices in most of her metropolitan areas.
PWC is famous as one of the Big Four Auditors in the world, and operates in over 157 countries. They also accept applicants for CA articleship every year, offering prospective chartered accountants to work with one of the largest companies in the world and gather enjoy ample growth opportunity for CA.
- KPMG – KPMG is amongst the Big Four Auditors, employing over 162,000 people and dealing in audit, taxation, and financial advisory. This Netherlands based organization is considered as one of the largest professional services companies in the world.
KPMG India was established in 1993, and since has built a significant presence in the country. Today, it caters to a client base of over 2700 companies, including some of the leading information technology companies as well as the financial service sector.
- EY – Ernst & Young is another multinational chartered accountancy firm, headquartered in London, UK. Ernst & Young is also considered amongst the Big Four Auditors, with a presence in 14 cities in India.
Pursuing CA articleship in Ernst & Young can prove significantly beneficial for prospective chartered accountants, as individuals can earn valuable market insight and learn what 21st century articles want from CAs from this institution.
- BDO International – BDO International is ranked as one of the best public accountancy firms, serving both international and Indian clients. Students completing Intermediate Group 1 can apply for articleship in BDO International, and seek employment in various organizations after completing their requisite training period.
- SS Kothari Mehta & Co. – SS Kothari Mehta & Co. is a highly reputed CA firm operating in over 100 countries. SS Kothari Mehta & Co. has been in the financial market for over 55 years and has created an elaborate network of partners and associates offering services to almost every part of the country.
Offering tax advisory services, statutory audit, merger and acquisition, corporate laws, and acting as a financial advisory to sectors like the BPO industry. SS Kothari Mehta & Co. offers students the opportunity to gain the familiarity of multiple industries, which is significantly beneficial in today’s rapidly changing financial market. Such a valuable knowledge base allows future CAs to seek employment in multiple different types of firms, as well as start their own CA practice afterward.
After completing CA articleship from a reputed firm, individuals can either opt to work as a salaried individual or start a private firm to cater to their clients. Both offer a viable opportunity to individuals, and thanks to credits like a loan for chartered accountants, CAs can easily gather the necessary financial backing to start their own firm.
There are multiple financial institutions that offer these types of credits. Companies like Bajaj Finserv even provide pre-approved offers that simplify the application process and help save time. These offers are available on both secured and unsecured credits, including business loans, personal loans, etc. Applicants can check pre-approved offers online by sharing only some essential details.
Individuals can select the best CA firm according to their preference and educational record, and complete their articleship period accordingly. It can easily be considered as one of the most essential steps of a CA’s career, adding significant value to their career.