Unlock opportunities during lockdown period, says CA Sunil Talati
22 Apr 2020 11:03:41
Business Bureau ;
The Nagpur Branch of WIRC of ICAI recently conducted the webinar on - “Opportunities during lockdown in COVID 19”. The current global health crisis in the form of COVID-19, has put the brakes on almost all walks of life. Hopefully, when the lockdown phase gets over as scheduled, Chartered Accountants will be facing challenges to revive the work flow as it was before, to ensure effective compliance of the provisions. With this in mind and to effectively make use of available time at disposal, Nagpur Branch organised the webinar to help members update their knowledge base.
CA Sunil Talati, Past Chairman of ICAI, from Ahmedabad, guided the participants with respect to opportunities in the matter of export of professional services. He is also shouldering responsibilities as Vice Chairman of SEPC (Services Export Promotion Council) which is setup by the Ministry of Commerce and Industry, Government of India. His deliberation hence proved very valuable for the attendees. From his rich experience, he conveyed that the export of or provision of Accounting and Auditing Services by Indian Chartered Accountants is going to play crucial role in favour of professionals as well as Indian Economy. Talati further said that services are going to be in great demand in countries like USA, UK, Canada and Australia.
He also discussed the opportunities from macro as well as micro level for the benefit of the attendees. Prevailing economic conditions calls for greater support and services by qualified chartered accountants to cater to the challenging requirements of businessmen. Going further, he said, if we estimate this requirement worldwide, approximate opportunity size for CA’s come to around USD 80 Billion market. He responded to querries as well of the members and said that he believe that Indian CAs are perfectly trained for export of services and hence ‘unlocking professional opportunities during lockdown is the need of the hour’.
CA Navin Khandelwal from Indore, the second speaker on the occasion, convinced the members attending with respect to importance of several other avenues, that need to be explored on unlocked, so as to effectively look up after the lockdown phase is over. He shared that because of shouldering responsibilities as registered faculty of the institute, since years to extend training and education to members pursuing crucial courses like ISA, Concurrent Audit, Valuation, etc. he enjoys knowledge of role of technology that can play in the lives of professionals. CA Navin Khandelwal, discussed effectively the probable impact of COVID 19 on various service industries.
He appealed the members in the profession to use the best possible use of e-resources to extend best possible services to help clients effectively respond and bounce back after the phase is over. He conveyed to use communication modes including emails, etc. to provide services like impact analysis, cash flow analysis, assessing modes of right mix of finance, formulating market strategy, cost cutting analysis, etc. He made the session interactive with the use of powerpoint presentation of various examples, poll review for questions coined during the session, etc. He summed up his talk by highlighting the importance and modes of ensuring effective Business Continuity Plan, for getting through this unfortunate phase of pandemic in the best manner possible.
CA Kirit N Kalyani, Chairman, Nagpur Branch of ICAI, in his welcome remarks through the webinar, extended warm welcome to the attendees. CA Abhijit Kelkar, Regional Council Member, also addressed through the webinar and shared his thoughts on the occasion. CA Akshay Gulhane, Chairman WICASA, effectively coordinated the event. CA Jiten Saglani, Secretary of the Branch, proposed formal vote of thanks for the success of webinar. Prominently present among the attendees included CA Saket Bagdia, Vice Chairman, CA Sanjay Agrawal, Treasurer, CA Suren Duragkar, Immediate Past Chairman, CA Harish Rangwani, Committee Member, CA Julfesh Shah, Past Chairman, CA Rajesh Kabra, CA Chirag Kothari, CA Arjun Phatak, CA Preet Chandwani, CA Utkarsh Mehta, CA Mohammed Asim Nehal, CA Jagdish Gupta and 200 CA members.