PANAJI: In these days of rapid globalisation, as the profession of chartered accountancy is becoming increasingly competitive, the Institute of Chartered Accountants of India (ICAR) is gearing to "package" chartered accountants (CAs) by further sharpening their skills of "communication, drafting and presentation," the three areas where MBAs claim superiority over CAs.

Vice-president of ICAI Sunil H. Talati said here on Friday that the institute plans to invest almost Rs.100 crore over the next ten years on an ambitious project to set up "centres of excellence" across the country to train chartered accountants. "This is a system by which CAs will be equipped to cope with the emerging competition by continuously upgrading their skills in English language communication, drafting and presentation among other things so they feel completely empowered to face the challenges of diversified needs of the profession," Mr. Talati, whois here to attend the two-day regional convention of the Western India Regional Council (WIRC) of ICAI, said.

He said there were instances of hundreds of Indian CAs who were extremely competent professionally, but were rejected by companies abroad for lack of communication skills. At a time when Indian CAs were most sought after from the U.S. to China and Russia, the Institute has decided to meet this challenge.

The project envisages the setting up of 11 centres of excellence across the country, which would offer short term and long term courses. Professionals from the age of 25 to 70 could take the courses any time they wish, Mr. Talati said.

Starting with the first centre to come up in Hyderabad next year, centres will be set up next in Delhi and Mumbai in 2008, to be followed by others.

Mr. Talati said the Institute awaited the passing of the Limited Liability Partnership Bill by the Centre, which would allow its members to associate with other professionals including company secretaries, cost accountants and lawyers to become a comprehensive business service provider under one roof. "The idea is to stop concentrating on just one area of the profession and to enter multifarious activities related to the profession through multi-disciplinary partnerships."

The ICAI has already amended its statute for this, but the other professions also will have to adopt the concept, he said. Modelled on legislations in Singapore and the U.K., the proposed Act would help the profession prepare itself for the impact of globalisation in competitive and related service.

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