Scholarship scheme for international accountancy qualification launched in Mumbai

Scholarship scheme for international accountancy qualification launched in Mumbai

Mumabi, India (prHWY.com) July 26, 2012 - Mumbai: ICAEW, a world leader of the accountancy and finance profession, has launched an exclusive scholarship scheme for its internationally-renowned ACA qualification in conjunction with sole training partner Get Through Guides (GTG). The scheme, open to Chartered Accountants qualified with the Institute of Chartered Accountants in India (ICAI), significantly reduces the cost of the required exams.
ICAEW's exclusive scholarship scheme is supported by anchor partners Deloitte, HDFC, Genpact, Mahindra & Mahindra, Grant Thornton, KPMG, PwC and Tata. It is open to dedicated ICAI Chartered Accountants (CAs) and reduces the cost of the final two exams of ICAEW's ACA (Associate Chartered Accountant) qualification from over 2.5 lakhs to Rs 40000.


The launch was marked by an event held at the Trident in South Mumbai, with speakers including YM Kale, Group President - Hinduja Group and former ICAI President, Dilip Apte, General Manager - HDFC, VS Parthasarthy, Group Chief Information Officer, Executive Vice President of Finance & M&A,Hemendra Shah Partner - Deloitte, Sai Venkateshwaran - Partner Grant Thornton, Kumar Das Gupta, Partner PWC and Vandana Saxena Poria OBE, Get Through Guides (GTG) CEO, talking about what skills Chartered Accountants should have to help accelerate business in a fast-changing world.
ICAEW has opened the scholarship scheme to both corporate and individuals who are willing to dedicate time to study and learn part-time between July and October in order to take two exams in November and one final exam in July next year. ICAEW's scholarship takes the cost of the first 2 papers down from over Rs2.5 lakhs to Rs 40000.
ICAEW President Mark Spofforth, who is also Deputy Chairman of the International Accounting Education Standards Board, spoke of the important job ICAEW and the global accounting profession
have in ensuring that people can do business with confidence. 55% of the current CEOs and CFOs of the FTSE 100 companies in London are ICAEW Chartered Accountants, demonstrating the important and influential role accountants play in business.
Mr Spofforth then welcomed scholarship holders - leading ICAI members from corporate India and MNCs, who are being sponsored to prepare for the final exams of ICAEW, which gives these global skills.

The scholarship holders will undertake part time training from expert trainers, Get Through Guides, the
official partner of ICAEW and ICAI, and the leading corporate training provider for BFSI across India. Upon passing the exams, they can become members of ICAEW, a world leader in the accountancy and finance profession, and use the designatory letters 'ACA' (for Associate Chartered Accountant) after their name.
Vandana Saxena Poria moderated the event and spoke of the impact of organisations becoming global, due to the fact that it has become easier to do business internationally through regulatory changes, alliances being formed and decreased cost of travelling. In addition, because of changing demographic trends and increasing purchasing power, lucrative new markets have been identified. Finally,technology has played a major part of making global business possible, changing both the speed and the way of doing business. Information is easily accessible through the internet, making it easier to make informed decisions.

Mrs Saxena Poria said: "With professional accountants being the backbone of finance and accounting globally in organisations, they are best placed to advise businesses on how to improve performance. They are training in tax, law, and strategy as well as financial and management accounting so is the right people to come up with and recommend strategies to help business succeed. They also help monitor
performance to keep businesses on track and suggest strategic changes when needed. They no longer just count - they are business strategists."


Against this backdrop, speakers were invited to give their thoughts on skills needed to support business in a globally changing environment.
Hemendra Shah and Kumar Das Gupta commented on the need for accountants to clearly identify what problems were and communicate solutions to various stakeholders. Hemendra explained that auditing was not about compliance any more, CAs needs to understand business risks and their impact on the business achieving its objectives, where professional scepticism plays an extremely important part but is not understood well in India. Kumar mentioned that CAs need a holistic understanding of the challenges a business is faced with and a good CA should be able to communicate workable ways of mitigating risk. Key to this was the integration of knowledge of different areas of how a business operates.

YM Kale spoke of how tax, law and strategy needed to merge and be understood together. He said that
globalization required skills that CAs generally are not trained for - dealing with other cultures, managing teams, and integrating different aspects of running a global business - the merging of tax, law and strategy. Dilip Apte emphasised that the key issue is strong written communication skills, to speak
to people all over the world and help them understand your point of view. Finally flexibility and change management is necessary in this day and age.

ABOUT ICAEW
ICAEW is a professional membership organisation, supporting over 138,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession. Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organisations and communities to help them achieve long-term, sustainable economic value. Because of us, people can do business with confidence. ICAEW is a founder member of the Global Accounting Alliance, which represents around 775,000 of the world's leading professional accountants in over 165 countries around the globe, to promote quality services, share information and collaborate on important international issues.

ABOUT GTG

Get Through Guides is an innovative global publishing and training company that specializes in professional skills and qualifications. Set up in 2006, GTG is already the premier training provider for organisations such as Genpact, Barclays, HSBC, JP Morgan, Deutsche Bank and KPMG. They were the first company to bring IFRS training to India and work on closing the skills gap between industry needs and employees' knowledge by providing customized interactive training programmes using Client Centred Learning®. GTG has written books on behalf of the Insurance Institute of India and IRDA and is accredited by all the major UK professional accountancy bodies to deliver training across India
and the world.

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Tag Words: icaew

Categories: Accounting

Press Release Contact
Further information about ICAEW's
Media enquiries:
Vandana Saxena Poria, CEO of Get
Through Guides, tel: 096 2345 4020 o

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