Definition of Chartered Accountant
Chartered Accountant is the accountant whose duty is to check the accounts which were recorded by company’s accountant. In other words, he is independent auditor. In India, for becoming chartered accountant needs the degree of CA from ICAI. After this he can practice as CA and as the member of ICAI.
Many professional accountants think that system of making CA is fully wrong in India because every commerce graduate who works more than 5 years can earn enough knowledge that he can easy become chartered accountant and easily audit the accounts but after independence India’s political leaders have copied UK for making CA. In UK, still a person can become CA if he has the license from Institute of Chartered Accountants in England & Wales .
Now, slowing ICAI is changing his educational system due to increasing demand of CA in industries. In past, system of examination was very boring and tough and full of cramming. But, now for admission of CA, to clear CPT examination which is objective type and free from cramming base. Every year, a person can register with ICAI. He can give CPT examination two times in a year.