Major reform needed in chartered accountancy study
Md. Ashraf Hossain | Wednesday, 13 August 2008
Against an estimated requirement for 12,000 qualified Chartered Accountants (CAs) by industrial, commercial, trade and other organisations, less than 1,100 qualified CAs, according to a talk-show speaker, are available in the country. It is strange that while thousands of educated youths are unemployed, many of them cannot be trained as CAs. Professional chartered accountants are essential for management and financial discipline in any organisation.
Many graduates enroll themselves with CA firms to study chartered accountancy course, but seldom they achieve success in the examination. The CA firms are learnt to impart CA course, which is neither suitable nor rational. The students spend most of the time, auditing business organisations assigned by the firms. As they have to remain so busy with field-level auditing, they get no time to study. As a result they become unsuccessful in examinations time and again.
A student takes eight to ten years only to complete the CA course. The socio-economic conditions in Bangladesh hardly allow the students to spoil such a long time to complete the course. The course is open to graduates. The students confront social pressure to earn to support themselves as well as their families. Many of the students have to accept jobs before the passing the final examination for which they cannot become qualified chartered accountants.
Therefore, the total system of CA study needs a major reform. The programme needs to have a balance between institutional classroom study and practical auditing. If it is done, a good number of qualified chartered accountants will be available in Bangladesh to take the responsibility of financial professional service. It will also reduce the number of the educated unemployed. The Institute of Chartered Accountants of Bangladesh should initiate a pragmatic reform programme to remove the loopholes of the existing system of study.
Many graduates enroll themselves with CA firms to study chartered accountancy course, but seldom they achieve success in the examination. The CA firms are learnt to impart CA course, which is neither suitable nor rational. The students spend most of the time, auditing business organisations assigned by the firms. As they have to remain so busy with field-level auditing, they get no time to study. As a result they become unsuccessful in examinations time and again.
A student takes eight to ten years only to complete the CA course. The socio-economic conditions in Bangladesh hardly allow the students to spoil such a long time to complete the course. The course is open to graduates. The students confront social pressure to earn to support themselves as well as their families. Many of the students have to accept jobs before the passing the final examination for which they cannot become qualified chartered accountants.
Therefore, the total system of CA study needs a major reform. The programme needs to have a balance between institutional classroom study and practical auditing. If it is done, a good number of qualified chartered accountants will be available in Bangladesh to take the responsibility of financial professional service. It will also reduce the number of the educated unemployed. The Institute of Chartered Accountants of Bangladesh should initiate a pragmatic reform programme to remove the loopholes of the existing system of study.