Demand for accounting professionals increasing: SAFA chief

The demand for accounting professionals, particularly cost and management accountants (CMAs), is increasing, president of South Asian Federation of Accountants (SAFA) P V S Jagan Mohan Rao said on Wednesday. Those pursing courses are absorbed by the companies on the completion of the course, which was evident that there was increased demand for such professionals, he told reporters here.

There are 70,000 qualified CMAs in the country, of which less than one per cent were in private practice and the rest wer employed across different industry sectors, he said. Professional accountants are expected to perform their task as per the standard prescribed and the disclosure norms have become critical, he added..