3 Challenges Faced By Chartered Accountants

Every profession has its own challenges. Similarly Chartered Accountants also face many challenges. Below are three broad categories of the many challenges faced.

Maintain the integrity and work with objectivity

Work ethics is the thin line between a professional and the others. Proper ethics at the workplace takes one to greater heights. Each day you have to tick all the checkboxes of workplace ethics then only you move ahead towards success. Most of us do not understand what exactly work ethics are? So there is no definition but there are common points which all of us would agree to. For Chartered Accountants, the most important ethics is to maintain the integrity of the confidential information they have access to. The employer or the client should be made aware of all the details without any delay. Another very important work ethic for Chartered Accountants is objectivity. Because CAs have a lot of information to their disposal they can easily make good use of that information to their benefit. That is why objectivity is important. CAs should work impartially for their clients.


Remain in sync and updated with the latest laws

Every time a financial law is amended or a new law is introduced Chartered Accountants are the first set of people to make note of it. They have to understand it, process it and simplify it to present it to their client or customers. It is a tough job to keep oneself updated. It is a regular process which continues entire life. CA community should keep up with the latest laws. Because a slight miss can lead to major losses to the organizations.
So as a CA one has to understand the old laws and keep up with the new laws as well.

Work under pressure

This is one of the most important traits of the Chartered Accountant. As soon as you enroll for the course you will start feeling the pressure. CPT, IPCC, Articleship and then the Final Exam. As a student, these exams will teach you to handle the pressure and perform as well. Hence when a student passes out as a certified CA he already has had an experience of working under pressure. The journey of the CA course is all about passion, hard work, and performance. But then the perks are great which attracts a lot of students to pursue this.