Top 3 Emerging trends for CAs
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Top 3 Emerging trends for CAs

  • Highlights

  • Top emerging areas in the profession

  • IT law and compliance

  • Forensic accounting

  • Valuation

  • opportunities

The evolution of economic situation coupled with the growth of information technology and globalisation has opened new doors for almost all the professions. CAs are not an exception. In the new business scenario, there are a number of new possibilities for the CAs to explore. Let us discuss some of the most prominent emerging areas.

You can diversify your consultancy by and leverage on the following growing trends. With easy financing options like Chartered Accountant Loans are also available, which come with features suitable to assist the accounting professionals reaching out to new markets has never been easier.


IT Law and Compliance

The IT revolution has opened new frontier in all the aspects of life. It has changed the way business is done in the world. From communication to database, travel to crypto currency there are some new things happening all the time. Because of the dynamic nature of industry, the laws and regulations are changing very fast. Old laws are getting outdated and replaced by new ones almost on a daily basis.

It is not an easy thing to keep up with such volatile environment. And it is really hard to ensure compliance. This is the reason CAs are in high demand in the field of IT law and compliance. Because of their knowledgebase and passion, they are taking on the sector to provide valuable services.

Forensic Accounting

On every newspaper, now the breaking news is $1.8 billion fraud in the Punjab National Bank. It is not an isolated incident. The number of frauds with increased complexity and account is on the rise. The fraud in PNB was not caught in the audits. It requires more specialised skills of forensic accounting. In this situation, the score of CAs in the forensic accounting has increased. And it will continue to increase in the coming years.

Valuation

The business scenario is changing rapidly. With the international syndicate, proliferation of MNCs and inflow of foreign investments the business scenario is getting more complex day by day. This provides an excellent opportunity for the CAs to step in and use their expertise.

These are only the tips of the iceberg. There are so many emerging areas like Intellectual Property Rights, corporate due diligence, etc.

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