The Institute of Chartered Accountants of India organized a webinar on “Promoting Indian Accounting Profession in USA”. Vice President of ICAI CA Nihar N. Jambusariapresented inaugural remarks and CA Dheeraj Khandelwal, Vice-Chairman, Committee for Export of CA Services and WTO delivered the opening and welcoming remarks. CA Hansraj Chugh, Chairman, Committee for Export of CA Services and WTO moderated the session.
Three panelists CA Aradhana Aggarwal, CA Rakesh Jain and CA Praveen Jain joined online from the USA. All the three panelists are Indian Chartered Accountants as well as Certified Public Accountants from the USA.The webinar was very interactive and more than twelve thousand Chartered Accountants logged in live to hear the insights from the Chartered Accountants speakers settled in the USA.
The major topics were challenges for Indian CAs in the USA in current scenario, opportunities for Indian CAs in the USA including placements, incorporation of a business in the USA by a non-resident and compliance thereof followed by the questions and answers sessions from the participants. Panelists explained how Indian Chartered Accountants can incorporate a company in the USA and offer accounting and consulting services. They also explained in length the compliance and double taxation and how Indian Chartered Accountants can take advantage of the US-India tax treaty to avoid double taxation.
CA Rakesh Jain explained the process of incorporating a business in the USA and CA Aradhana Aggarwal explained the logistics and tax implications of providing services directly from Indian offices. The webinar was scheduled for two hours with half an hour session for questions and answers. The webinar was so interactive, informative and engaging that the moderator CA HanrajChugh received more than 200 questions and had to extend the webinar by one hour to cover the most common questions.
CA Aradhana Aggarwal also provided insights on the practical challenges of working with clients in the USA. Aggarwal explained in details the demands of accounting services in the USA and the gaps in demand and supply. Aggarwal mentioned that not every Chartered Accountant has the luxury to go to convent or English medium school but that should not come in their way of success. She emphasized that English is only a medium of language and although Chartered Accountant should work towards learning it if they aspire to work for the USA clients but the lack of speaking skills should not let any CA feel inferior to anyone who can speak better English. She said getting the message across is more important than the speed, words and sophistication in the communication. Aggarwal also emphasized on the importance of soft skills and presentation skills for the Indian Chartered Accountants.
Aggarwal is a Wharton alumniwhere she received her management education. She is a native of a very small town in Haryana called Narnaul. Aggarwal worked as Director of Finance at University of Pennsylvania, one of the ivy league universities. She is also a founding member of the ICAI New York Chapter and its past chairperson. Currently she runs her own CPA practice in the United States.
Recorded version of the webinar is available on ICAI’s Youtube link: