What's next if you don't clear the CA exams? Read here for the alternative career options

Candidates are an easy pick in the Product Manager roles of the Fintech Startups who are on the lookout for knowledgeable and industry-experienced individuals.

The Chartered Accountancy (CA) Final and Intermediate November 2023 results have been announced on by The Institute of Chartered Accountants of India (ICAI).

This time, a total of 8,650 candidates have qualified as Chartered Accountants, the ICAI said.(HT file)

This time, a total of 8,650 candidates have qualified as Chartered Accountants, the ICAI said. For aspirants who aim to lead a career as a Chartered Accountant (CA), clearing the CA Final examination is important.

There are three levels that aspirants need to clear to become a CA, that is:

(I) CA Foundation Course Exam

(II) CA Intermediate Exam

(III) CA Final Exam

(IV) Graduates (with minimum marks prescribed) have the option to enter the intermediate level directly without a foundation exam.

Just like a funneling process, the examination levels get tougher as candidates from from the foundation course to the final exam. As per the 2023 results which were released on Tuesday, the pass percentage for Group I is 9.46, Group II is 21.6 and Both Groups (III) is 9.42. Many candidates fail to get through the final exam level despite many attempts.

Candidates who have cleared the CA Foundation course will eventually attempt the CA Intermediate level exam. After clearing the exam, candidates are expected to complete ‘articleship’ for 2 years. During this period, candidates would receive hands-on experience working with the industry.

In a conversation with Ajaykrishnan C, Chartered Accountant, Partner - R Rajan Associates, Kochi, explains various career opportunities for candidates who could not make it through the CA Final exam list.

Accounting Team Lead in the corporate sector.

With relevant hands-on experience working with the industry after completing the articleship, candidates who fail to clear the final exam can find an alternative career opening up for them in the corporate sector. Some SMEs also prefer to pick candidates who have completed their articleship.

Banking sector

Jobs in the credit, loan approval, etc departments of the banking sector are waiting for the candidates who have dropped out after passing the CA Intermediate level exam

Analyst at the Big 4's

Candidates can get into the Big 4's ( EY, KPMG, Deloitte and PwC) as an analyst, BPO (Business Processing Outsourcing), KPO (Knowledge Processing Outsourcing) positions.

Fintech Startups

Candidates are an easy pick in the Product Manager roles of the Fintech Startups who are on the lookout for knowledgeable and industry-experienced individuals.

Entrepreneurship

Candidates who failed to make it through the Final exam can always open their consulting firms in an advisory role and can also provide GST filing, internal auditing and accounting services to clients.

Become a Registered Valuer

Candidates can look into a career of becoming a Registered Valuer under the Insolvency and Bankruptcy Board of India (IBBI)

Teaching

Often many candidates who fail to clear the CA final exam take up teaching in colleges and coaching institutions which has a good demand in the job market.

Financial Legal Career

Upon completing the equivalent law degree, candidates who have completed the articleship can find themselves climbing the ladder in the financial legal side of the corporate sector.

Fraud Auditor

On the completion of certificate courses, candidates can look up to finding career prospects in the fraud detection and auditing sector. ICAI too offers a certificate course on Forensic Accounting and Fraud Detection.

ICAI – IGNOU Memorandum of Understanding

A student admitted under this course as per the ICAI-IGNOU MoU will be awarded a B.Com degree on the completion of the study modules of IGNOU and qualifying for the first stage of the chartered accountancy examination.

Similarly, a student on the completion of the study modules of IGNOU and on qualifying final stage of the chartered accountancy examination, will be awarded an M.Com. degree.

Certificate courses

Various certificate courses can open doors to many opportunities in the financial sector like the Certified Information Systems Auditor (CISA) Qualification, CMA, CS, ICAI Accounting Technician Course (ATC), etc.