What is a Chartered Accountant (CA) and What Does a Chartered Accountant Do?

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2 min read
29 July 2025

If you have ever wondered what exactly a chartered accountant (CA) does, you are not alone. Many people are unfamiliar with the details of this profession. In this article we will shed some light on what is CA and how they can excel in their profession with the right financial support.

A fundamental component of any successful business is having good accounting skills. Accounting is a critical process that helps businesses organise, record, and analyse their financial transactions. So, simply put, a CA is a highly skilled financial professional who provides a range of services to individuals and businesses. These services typically include preparing financial reports, offering strategic financial advice, and ensuring compliance with relevant laws and regulations.

What is a CA (Chartered Accountant)?

A Chartered Accountant (CA) is a professional designation granted to accounting experts who have completed rigorous education and training in financial management, auditing, taxation, and business strategy. CAs provide critical financial services, including financial reporting, auditing, tax planning, and consulting for businesses and individuals. They adhere to strict ethical standards and regulatory requirements, ensuring the accuracy and integrity of financial information. Chartered Accountants are highly respected in the finance industry for their expertise, professionalism, and ability to provide strategic financial advice, playing a crucial role in the economic health of businesses and economies.

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Responsibilities of Chartered Accountants

At the heart of a chartered accountant role is the management of financial matters. Some of the main tasks of a chartered accountant include:

  1. Accounting and bookkeeping: CAs are responsible for maintaining accurate financial records for their clients. This includes managing income and expenses, preparing tax returns, and ensuring compliance with tax laws and regulations.
  2. Auditing: CAs also perform audits of financial statements to ensure that they are accurate and comply with accounting standards.
  3. Financial planning and analysis: Chartered accountants help individuals and businesses plan their finances and make informed decisions about investments, equity, and debt financing. They also provide financial analysis and projections to help clients understand their financial situation better.
  4. Risk management: Chartered accountants also play a key role in managing financial risks for their clients. They monitor financial activities and assess potential risks to prevent financial losses.
  5. Business consulting: CAs offer advice and guidance to businesses on various aspects including cash flow, budgeting, cost management, and internal controls.

In short, a chartered accountant is a financial expert who provides a variety of services to help individuals and businesses manage their finances effectively.

How to become a Chartered Accountant

To become a Chartered Accountant (CA), one must complete the CA course offered by the Institute of Chartered Accountants of India (ICAI). Becoming a chartered accountant involves meeting specific educational, certification, and work experience requirements. The key steps to achieve this goal are as follows:

  1. Earn a bachelor’s degree in accounting: Begin by completing a bachelor’s degree in accounting, finance, or a related field. This foundational education is essential for pursuing further qualifications. Many students also undertake internships during their degree, which provide valuable hands-on experience and help in securing future roles.
  2. Undertake an internship: Practical experience through internships is crucial. These opportunities not only enhance your understanding of accounting practices and accounting skills, but often lead to full-time employment upon successful completion, particularly with large firms or corporations.
  3. Join a chartered accountant training programme: To become a certified chartered accountant, you’ll need to enrol in an advanced training programme. These programmes prepare you for the chartered accountancy exams and provide the advanced knowledge and skills required to succeed in the profession.
  4. Gain work experience: Most employers require chartered accountants to have at least three years of relevant work experience. This helps you apply your knowledge in real-world scenarios and demonstrates your expertise to potential employers.
  5. Build a global network: For those aiming to work internationally, creating a professional network is vital. Engage with global companies, research their hiring needs, and establish connections via platforms like LinkedIn. Networking can open doors to international opportunities.
  6. Consider a master’s degree in accounting: While not mandatory, a master’s degree enhances your qualifications, broadens your knowledge base, and increases your earning potential. A significant number of chartered accountants pursue advanced degrees to access more competitive roles.

Steps to get certified as a Chartered Accountant

  1. Enrol in the CA Foundation course: After completing high school, register for the CA Foundation Course with the Institute of Chartered Accountants of India (ICAI).
  2. Appear for the CA Foundation exam: Once you complete the prescribed study period, you can sit for the CA Foundation Exam, which is held twice a year.
  3. Register for the CA Intermediate Course: After passing the Foundation Exam, register for the CA Intermediate Course.
  4. Undergo Articleship training: Concurrently with the Intermediate Course or after passing the Intermediate Exam, you must undergo three years of articleship training under a practicing CA.
  5. Appear for the CA Intermediate exam: After completing the prescribed study period, you can sit for the CA Intermediate Exam, which is also held twice a year.
  6. Register for the CA Final Course: Upon passing both groups of the Intermediate Exam, register for the CA Final Course.
  7. Appear for the CA Final Exam: After completing the prescribed study period and articleship, you can sit for the CA Final Exam, which is held twice a year.
  8. Complete ITT and OP Training: Undergo 100 hours of Information Technology Training (ITT) and Orientation Programme (OP) before appearing for the CA Final Exam.
  9. Pass the CA Final Exam: Once you pass the CA Final Exam and complete the required training and practical experience, you can become a member of ICAI and be designated as a Chartered Accountant.

Qualifications and certifications for becoming a CA

To become a Chartered Accountant (CA), one must typically follow a structured path of education, training, and certification. The journey begins with obtaining a relevant bachelor's degree, followed by enrolling in a recognised CA program. In countries like India, this involves passing a series of exams conducted by the Institute of Chartered Accountants of India (ICAI). The process includes three levels: CA Foundation, CA Intermediate, and CA Final. Additionally, candidates must complete a period of practical training or articleship under a practicing CA, gaining hands-on experience. Successful candidates receive the CA designation, signifying their expertise and professionalism in the accounting field.

Where can Chartered Accountants practice?

Chartered Accountants (CAs) can practice in various sectors, including public practice, corporate sector, government organisations, and non-profit organisations. In public practice, CAs can work in auditing, taxation, and consultancy firms. In the corporate sector, they can hold positions in finance, accounts, and audit departments. CAs also have opportunities in government bodies and regulatory authorities, as well as in academia and research.

What's the difference between a Chartered Accountant and a Certified Public Accountant?

Criteria

Chartered Accountant (CA)

Certified Public Accountant (CPA)

Geographical recognition

Recognised in countries like India, UK, Australia

Recognised in the United States

Core functions

Tax filing, financial reporting, auditing, management accounting

Tax filing, financial reporting, auditing, management accounting

Work sectors

Public, private, and government sectors

Public, private, and government sectors

International scope

Can qualify to work as a CPA in the US by passing additional exams

Typically limited to the US, but globally recognised for multinational firms


What’s the difference between an accountant and a chartered accountant?

Criteria

Accountant

Chartered Accountant (CA)

Qualifications

May have a degree or diploma in accounting or finance

Trained and certified by a recognised professional body (e.g., ICAS)

Training and exams

Basic or general financial knowledge

Undergoes rigorous training and passes specialised professional examinations

Professional standards

May not follow a standardised ethical code

Adheres to a strict Code of Ethics and professional standards

Ongoing development

Not always required

Must commit to continuous professional development to stay updated with industry changes

Scope of work

Handles general financial tasks such as bookkeeping and basic reporting

Provides advanced services including audits, financial strategy, and regulatory compliance

Public trust and recognition

Less formally recognised and regulated

Highly trusted professional with recognised status and accountability


Reasons Chartered Accountants are in demand

Chartered Accountants (CAs) are in demand due to their expertise in financial management, auditing, taxation, and advisory services. Their skills are essential for ensuring compliance with financial regulations, managing risks, and providing strategic financial advice. CAs' ability to interpret complex financial data and their ethical standards make them valuable assets in various industries, contributing to their high demand.

If you are a chartered accountant, you may need financing solutions to manage your personal or business expenses. This is where a professional loan such as a CA loan can help. A CA loan is a type of unsecured loan designed specifically for chartered accountants. Bajaj Finserv CA loan offers funds up to Rs. 80 lakh to meet your professional needs without any collateral requirement. It also offers flexible repayment options, low-interest rates, and quick disbursal, making it a preferred financing solution for CAs.

If you are a CA looking to strengthen your business financially, consider availing Bajaj Finserv CA Loan to address your financial needs effectively.

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Frequently asked questions

What is the CA qualification?

The CA (Chartered Accountant) qualification is a professional accounting designation granted by the Institute of Chartered Accountants of India (ICAI) to individuals who meet the specified educational and practical experience requirements.

What does CA mean in work?

In a professional context, "CA" stands for Chartered Accountant. A Chartered Accountant is a highly qualified professional who provides expert advice on financial matters, including accounting, auditing, and taxation. Chartered Accountants hold credentials granted by a professional accounting body, which demonstrates their expertise and adherence to rigorous standards. They play a critical role in ensuring financial accuracy, compliance with regulations, and strategic financial planning for businesses and individuals. Chartered Accountants are recognised globally, with their roles varying slightly based on regional requirements and regulations.

What exactly does a CA do?

A Chartered Accountant (CA) performs a wide range of tasks related to financial management and compliance. They assist clients with filing tax returns, preparing financial statements, and ensuring adherence to legal and regulatory requirements. CAs provide audit services to verify the accuracy of financial records and advise on financial planning, budgeting, and investment strategies. They may also offer consultancy on business restructuring and risk management. Their expertise helps organisations maintain financial integrity and optimise their financial performance, addressing various financial challenges and opportunities.

What is the full form of CA?

The full form of "CA" is Chartered Accountant. A Chartered Accountant is a professional designation granted to individuals who have completed the necessary education, training, and examinations set by a recognised accounting body. This designation indicates that the individual has achieved a high level of proficiency in accounting, auditing, taxation, and financial management. Chartered Accountants are often involved in a range of financial activities, including financial reporting, tax planning, and compliance, and they are recognised for their expertise and adherence to professional standards.

Which field is best for CA?

For Chartered Accountants (CAs), fields such as auditing, taxation, financial management, and forensic accounting are particularly prominent. Auditing involves reviewing and verifying financial records to ensure accuracy and compliance. Taxation focuses on advising clients on tax planning and compliance. Financial management includes budgeting and financial strategy, while forensic accounting deals with investigating financial discrepancies and fraud. Each of these fields offers unique opportunities and can align with a CA's skills and interests, depending on their career goals and specialisation.

Which skill is important for CA?

For Chartered Accountants, several skills are essential, but commercial awareness is particularly crucial. This includes understanding business and economic environments, which helps CAs provide relevant financial advice and insights. Other important skills include analytical abilities for interpreting financial data, attention to detail for accurate reporting, and strong ethical standards to maintain integrity in financial practices. Effective communication and problem-solving skills are also vital for interacting with clients and addressing complex financial issues. These skills collectively support a CA’s role in managing financial responsibilities and delivering strategic advice.

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