Meet focuses on CAs role in WTO era

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Hyderabad, May 15: Recognising the power of knowledge, changing economy & business environment, adopting to new types of practices, practicing the development strategies, networking the perceived risks and listening to marketing demands are the key factors which drive the demand for more and more chartered accountants’ (CAs) role in the World Trade Organisation (WTO) regime.

The WTO regime will throw plenty of opportunities for those who pursue CA as a profession and particularly three major areas - government, revenue authorities and business units - are wide open for the aspirants and offer equally challenging jobs, said S Gopalakrishnan, chairman, committee on trade and laws and WTO of the Institute of Chartered Accountants of India (ICAI).

Addressing the inaugural session of the national seminar on ‘Emerging professional opportunities in the WTO regime’, here on Saturday, Mr Gopalakrishnan said it is time for youngsters to pursue CA as one of the major profession as more and more service sectors inviting the key role of CAs in accounting and auditing.

With the emergence of services sector such as business, communication, construction & related engineering, distribution, educational, environmental, financial, health and social, tourism and travel related areas, recreational, cultural and sporting, transport and other sectors under the post-WTO regime, there is going to be a huge demand for CAs across all the sectors, he said.

CAs can play a critical role in policy framework, claims verification, information systems, administrative structures, investigation under competition laws and regulation of dominant position apart from the regular areas for audit and verifications, providing link to industry and grievance redressal, he said.

Helping in specific areas of WTO agreements at international level in complying with the procedural and other aspects, providing services abroad by accessing foreign markets under GATS (General Agreement on Trade in Services) and providing services to enterprises from abroad are some of the positive aspects for the youngsters to pursue this profession, he said further.

Later addressing the gathering, C Ramachandraiah, Member of Parliament (MP), said the role of professional service providers has undergone a sea change and they are likely to become more and more integrated and focused as the shrinking world through newer and newer meanings of delivery of services, opening up new horizons.