What are the pros and cons of taking the ACCA exam instead of the CA exam? A lot of my friends are going for the former because it lets you circumvent articleship, is easier to clear, and you can work anywhere in the world. Which path must I choose? - Vikhyati
The choice to pursue CA (ICAI) or ACCA would depend on the student’s long-term objectives. The following factors can be helpful for deciding:
· ACCA has global opportunities, if that is a dominant need, but a little-known fact is that ICAI is also recognised across the world in countries including the UK and Australia, where there are reciprocal MoUs.
· Pass percentage favour ACCA as CA exams is perceived to be harder but nothing comes easy in life.
· An ACCA cannot sign the financial statements, not relevant if there is no intention to practice in India, but there are other interesting avenues too.
· A CA can pursue ACCA, given the flexibility of the course, at any point of time including when doing CA. However, if criteria is quicker and easier completion, ACCA is an option. As in any professional course, consistency, time management, and discipline, are core requirements, be it CA or ACCA.
(The expert is a a Chartered Accountants and Partner at RVKS and Associates, Chennai.)