Company Secretary & Chartered Accountant – The Difference!

For all those who are still confused about the difference between a company secretary and a chartered accountant: this article would help you in understanding the difference. Many people often get puzzled when they hear about these two terms. Well, a layman would not exactly know the difference unless they know what role are associated with both the above mentioned terms.

Many candidates/students have the confusion regarding which field to choose from. Some think Company Secretary is better than Chartered Accountant. On the other hand there are people who think the other way. Well, practically we cannot compare both of them. The important thing lies in the interest of the candidate. The student has to choose that field which he/she thinks would be good for them and in which they can have an excellent career. Let’s have a look at the difference between both the terms.

Chartered Accountancy Course & Scope

Chartered Accountancy is a professional course in the field of accounting. It is run, regulated & monitored by The Institute Of Chartered Accountants Of India (ICAI). It is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India.

ICAI has achieved appreciation as a foremost accounting body not only in India but also globally, for its contribution in the fields of education, maintenance of high accounting, professional development, auditing and ethical standards. ICAI is the second largest accounting body in the world.

The CA course is an extensive course where a candidate needs to study the fundamentals along with working in organisations to gain practical know how. The course is much broader in the syllabus and the opportunities associated with it are challenging and wider too.  A candidate who clears the CA course gets an option either to work with a company or start his/her own independent practice. The scope of CA is wide. Now, as ICAI also has tie ups with various foreign professional bodies, aspirants can also find employment outside India.

Company Secretary Course & Scope

A Company Secretary is a professional whose role is to act as a mediator between the organization and its board of directors. He/she ensures that the company complies with all the laws and acts in accordance with the regulatory authorities, and takes care of all the legal matters. The company secretary course is regulated & administered by The Institute Of Company Secretaries Of India (ICSI). A company which has a paid up capital of at least Rs. 5 crores needs to assign a full time company secretary.

To become a Company Secretary, the candidates need to pass 3 stages i.e. the Foundation Program, Executive Program, and Professional Program. A company secretary, as similar to Chartered Accountant, can work with a company or can start his/her own practice. A certified Company Secretary has a great scope of employment in consulting firms, financial institutions, private companies, banks, department of company affairs or other regulatory bodies.

Another doubt in the student’s mind is that company secretaries have to do more of management related work and Chartered Accountants have to do more on the financial side. Well, there’s no demarcation about particular job responsibilities. Both Company Secretaries & Chartered Accountants have to manage things relating to their work. Management is a crucial aspect of any job profile. So, irrespective of the field you choose , you need to manage and administer your resources for optimum results. Choosing the field is an important question. It depends on what skill sets you possess.

Manjit Banga - The author of this article is a Company Secretary Course mentor and the proprietor of one of the premier Educational Institutes in Vadodara. If you’re looking for Company Secretary Course Details in Vadodara, contact Banga Tutorials.