Female aspirants have achieved a remarkable milestone in the realm of Chartered Accountancy ( CA ) exams, now constituting a record-breaking 48% of qualifiers, in the Institute of Chartered Accountants of India ( ICAI ).
This surge marks a significant leap from a mere 8% representation in 2000, solidifying women’s growing prominence in this field. Additionally, within the broader CA community, women now hold a 30% share, showcasing a remarkable advancement over the years.
The influx of female talent is not just a statistical trend but a reflection of the shifting dynamics within the accounting and auditing sector. With India becoming a preferred destination for outsourced financial services, new avenues are opening up for professionals. The allure of an average annual salary of Rs 12.5 lakh for freshers, coupled with the flexibility and affordability of pursuing the CA course, has further fueled this trend.
Moreover, recent exam results have highlighted the rising prominence of women in the CA domain. In 2020, four out of six toppers in the final and intermediate exams were women, a trend that continued in both old and new course exams in 2021. This trend persisted in subsequent years, underlining the consistent performance and dedication of female candidates. Over the past decade, an impressive 75 women have secured top positions in CA exams across different levels.
Recognizing the evolving landscape, the Institute of Chartered Accountants of India ( ICAI ) introduced a new course aligned with the National Education Policy, 2020, in 2023. Ranjeet Kumar Agarwal, President of ICAI, emphasized the remarkable surge in women’s participation in accountancy, tax, and finance roles, describing it as a phenomenal rise.
Agarwal also pointed out the robust growth prospects in India’s accountancy and financial sectors, citing the country’s position as a global hub for outsourced accounting services. He noted that many countries choose India for accounting work, leading to a surge in professional opportunities.
The statistics reflect this changing landscape, with the number of female CAs steadily increasing. In 2019, there were 73,807 women CAs out of a total of 2.91 lakh, a figure that rose to 1.2 lakh out of 3.9 lakh in 2023. This growth trajectory signifies a broader trend of more women opting for one of India’s most rigorous professional programs.
Agarwal attributed this trend to the expanding opportunities in accounting and auditing, coupled with the substantial return on investment in a five-year CA course, which costs approximately Rs 75,000. He also highlighted India’s tech-savvy youth, driving significant digital transactions globally and creating a conducive environment for professional growth.
In essence, the surge of women in Chartered Accountancy not only reflects gender parity but also shows the evolving dynamics and promising prospects within India’s financial landscape.
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