The Institute of Chartered Accountants of India ( ICAI ) President CA Nihar N Jambusaria has advised the CA Students to Prepare to become a Global Professional.
CA Nihar N Jambusaria has said that, Being students of this esteemed profession, you need to constantly update your knowledge beyond the curriculum. You must prepare yourself for the next generation accounting with the policy guidelines in sync with the world in order to be future-ready. International accounting bodies are focusing on Sustainability Reporting in order to exhort and prepare robust global businesses that can ensure inclusive growth and prosperity post the pandemic.
At ICAI, the Sustainability Reporting Standards Board has been set up last year with an objective to formulate and issue Sustainability Accounting Standards, develop apt reporting technology platforms such as XBRL Taxonomies and analytical tools/ techniques, provide guidance per se and interpretation of standards and collaborate with the Government/Regulators to propagate these standards.
He also said that, as a budding accounting professional, you must get an overview about Sustainability Reporting and other new-age developments such as Valuation methods, Insolvency process, etc. so as to identify the underlying opportunities in the upcoming thrust area not only in the local business environment but also to become a global accountant.