CA grads prefer to stay back in India

NEW DELHI: Pasang Sherpa of Solukhumbu district has just completed Chartered Accountancy course from Institute of Chartered Accountants of India (ICAI). Now, with a degree in hand, he is looking for a job in India itself as he was told by his senior colleagues that it would be difficult to find a good one in the home country.

He is expecting a monthly salary of INRs 50,000, which he thinks is impossible in Nepal.

"It is very difficult to find a job in Nepal. Besides, even if you find one, it pays you very less," says Sanjay Singh, a Nepali, who has been working as a chartered account (CA) for Moserdaer India Ltd in New Delhi.

He reveals that he went to Nepal after acquiring the degree from ICAI in 2007 and spent six months looking for a job. "Finally, I decided to come back to India because I didn't see any prospects there."

Satyendra Kumar Yadav, another Nepali CA, who works for a firm in the Indian capital of New Delhi, too has a similar story to tell.

"I'm apprehensive as I might not be able utilise my knowledge and skills that I've gained here," Yadav says.

All Nepali CAs those working for several firms here in the southern neighbor, unanimously agree that they prefer jobs in India as they get almost the double salary than their counterparts in the home country.

"All the big companies are in India. If we can work for such companies it is good for our resume as well," Singh added.

Some of the Indian companies have already been listed in the American stock exchange markets and therefore the chartered accountants of India are aware of General Accepted Accounting Practice (GAPP), Sarbanes-Oxley (SOX) audit and globally applied International Financial Reporting System. "Unfortunately, not many CAs in Nepal are familiar of the SOX audit, let alone applying them in the day to day practice," Yadav claims.

Nepali CAs in India believe that the use of global accountancy in the trade and commerce sector is one of the key factors that attract the foreign investors to venture a business in a particular country.

According to Yadav, there is very limited scope for the CAs to use universally accepted principles of accountancy in Nepal, barring a few multinational companies and some INGOs.

"These days auditing does not merely include auditing of the income and expenditure. In fact, it is the auditing of manager's honesty," Yadav says. "In India, the CA's job has been expanded to a lot of new areas as the job requires the auditing of legal provisions and the responsibility to check whether or not the directors or the managers of a particular company honestly try to earn profit for the company."