The Institute of Chartered Accountants of India (ICAI) has
introduced an accounting technician qualification. India’s largest
professional body said the qualification was developed because the
country’s growing economy has driven a great demand for unqualified
accountants.

“We have been taking various proactive measures from time to time
in alignment with the changing facets of the India economy for
continuously raising the standards of the quality of accounting and
financial reporting,” ICAI president Ved Jain told The
Accountant.

“The ICAI has so far focused on the chartered accountant
qualification. We have thought over the last 15 years, after
liberalisation, that the horizon of the Indian economy has been
changing; it has seen unprecedented growth and has changed
significantly, this has resulted in the demand for accountants on
the second tier in large numbers.

“To fill in this gap, where the industry and the particular service
sector is looking to the second tier of accountant at the
operational level, the ICAI thought fit to come out with a course
curriculum. That is why the ICAI thought [about introducing the
technician qualification] as we have domain expertise in designing
and delivering the accounting knowledge.”

The ICAI’s chartered accountancy programme enrols 125,000 students
each year. The new technician course is predicted to attract at
least 50,000 students and will be split into three stages. The
first requires an entrance exam, the second the completion of a
technical accounting curriculum including a final exam, and the
third stage involves a year of practical work experience.

The course will comprise of four papers: accounting; law,
general commercial knowledge and business communication; cost
accounting and financial management; and taxation (direct and
indirect).