In addition to the note posted yesterday, I would like to add few - TopicsExpress


In addition to the note posted yesterday, I would like to add few more points to the glory of the scope of CMA. Internal audit is a budding field in recent days. Public sector entities are bound by CARO and other regulation to get internal audit done for which cost accountants are competent and eligible. Our members are tilting towards the field ans as a result we got mutual recognition with IIA USA( The world leading institute for internal audit). Even the private companies are preferring to keep internal auditor and CMAs have occupied position in many companies. Stock Audit, Revenue audit and concurrent audit for the banks are also done by CMA and is a good option. CMA India has mutual recognition with IMA USA. Anybody who wants to work abroad can take the degree and increase the chances of getting selected. Although our members on CWA itself have gained very very good positions in Dubai, Bahrain, Qatar, Saudi, Zambia, Tanzania, Kuwait and many other countries. For details you can refer the award of assosiateship and fellowship published by the institute every month as a bulletin. You will be really surprised and happy by the position and performance of our fraternity. ACCA is very good option and you get 4 exemptions. CIMA provides a saperate route for us. CS also gives exemptions to CMA Now let me come to the cost audit. Let me remind my friends that we cost audit has not been abolished. Its area has been curtailed. Even now school, colleges, hospitals and real estate companies are brought into the ambit of cost audit. major PSUs are also covered. We can fight for the increased coverage as always. Recently in many court cases government has well understood the importance of cost audit. But due to the politica involved the outcome is at our doorstep. Guyz IFRS is on your doorstep. Every CMA must pursue a degree in IFRS so that we can prove our mettle. Integrated Reporting, Islamic Finance, Environmental Management Accounting including carbon rating and Forensic accounts are the fields open for us. Capital Markets are a very good option for us to invest and advice. Even you can give your consultancy in risk hedging, foreign exchange risk exposure, insurance, future, forward and you can act as swap agent. Merchant Banking and Merger and Amalgamation are extremely good option for us. O yes I was missing the valuation part the most. We are taught and trained in the subject and can do really well. Big 4 are hiring for the same and charge too high. IT audit is field of joy for us where our institute is focussing alot and providing short term coursez which have good scope and practical application. Above all Guyz to be CMA is a celebration of joy. You can feel your knowldege and its worth. Never judge a book by its cover. If the next time sometime anyone doubts about the capability of CMA courz then do ask him to provide the names of atleast only 10 people who did the courz anytime and are nuts at present. I hope he will definitely fail.
Posted on: Fri, 11 Jul 2014 02:24:03 +0000

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