5 things you didn't know you could do as a CA
It is careers fair season across the UAE and many young people are contemplating their next step.
When considering a professional qualification, it can be easy to be influenced by stereotypes. But becoming a Chartered Accountant does not mean sitting in a back office with only a calculator for company, according to Vernon Soare, Executive Director, ICAEW, an organisation that promotes, develops and supports over 142,000 chartered accountants worldwide.
“The UAE is a major financial and business centre and there is tremendous demand for highly qualified finance professionals. But there are a number of misconceptions about accountancy; often people think that it means you must work in a practice firm, or the finance department. Increasingly this is not the case. A chartered accountancy qualification leads almost anywhere, including becoming a business leader and making vital strategic decisions.” explains Vernon.
Here are Vernon’s top five things you might not know you can do with a chartered accountancy qualification:
#1 Work in any industry
Whether it is fashion, football or films, they all need strategic business advice on anything from launching a new product to investing in a new company, as well as an expert making day-to-day financial decisions. Chartered Accountants are not just employed in financial services, but also help in running sports teams, airlines, film production companies, clothing labels and everything in between.
#2 Travel around the world
ICAEW’s chartered accountant qualification, the ACA, is internationally recognised as demonstrating the highest professional and ethical standards. This means that it can be the passport to a career anywhere in the world. As more companies become multinational and trade globally, international qualifications are increasingly important, and of course international experience is always valuable.
#3 Become a forensic accountant
Forensic accountants are the detectives of the finance world. Their job is to help investigate financial crime, and they are trained to look beyond the numbers and into the business realities of situations. They are vital to support the fight against fraud, which is calculated to cost $40bn (Dh147bn) a year worldwide.
#4 Work for the government
Not all accounting jobs are in the private sector – great financial and business minds are needed in the public sector as well. Making decisions that have an immediate impact on society and policy could lead almost anywhere in government, and can mean securing a position on the board, or running vital sections of public finance.
#5 Become CEO (seriously)
It is a myth that accountants only ever look after the finances. These days chief financial officers are a chief executive’s ‘right hand’ and can often be next in line to the very top. CFOs have a real understanding of what make a business tick, and are already expected to be strategic and visionary business leaders. Being a chartered accountant can lead to running a multinational business.