Will there be demand for CA in future?

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Will there be demand for CA in future?

1) Future CA demand in India- Undoubtedly, there will always be a rising demand for CA professionals due to a growing number of companies in India. 2) Mediocre CA jobs- Since many tasks of a typical CA is a routine job with some procedural working on a given assignment, there is always a room for automation.

Will Chartered accountants be automated?

The survey also revealed that additionally, 48.17\% of finance officer jobs are also at risk of automation. The analysis by the ONS found that around 1.5 million jobs in England are at “high risk” of some of their duties and tasks being automated in the future.

Is ICAI trying to derail the NFRA?

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ICAI made many serious attempts to derail the process of establishment of NFRA. However, they received the first blow when section 132 has become part of Companies Act 2013. As the sections of companies Act were being notified in the phased manner, ICAI was hopeful for its non-notification.

How is the CA fraternity coping with the changes to ICAI?

The report quoted the ICAI as saying “… the CA fraternity is in the process of coping with new changes such as penalties, rotation, restricted services, Internal Financial Controls over Financial Reporting and other aspects imposed by the Companies Act.

What is the deadline for filing an annual return with NFRA?

As per Rule 5 of NFRA Rules 2018, it has been prescribed that auditors of class of companies specified in Rule 3 (1) are required to file an annual return with NFRA in the prescribed form (NFRA-2) on or before 30th November every year. For the reporting period FY 2018-19, the Government had already allowed extension upto 4th September 2020.

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What is NFRA and why is it important?

The establishment of NFRA is as per section 132 it’s been five years since the enactment of the Companies Act, 2013 and only a few sections have yet to be notified. Most notable amongst them was the provision to create a National Financial Regulatory Authority – an audit super-regulator of sorts.