11 Chapter 4

CHAPTER 4
INTERPRETATION AND FINDINGS
74
The previous chapter summarized the hypothesis, the research methodology and
the testing of hypothesis. However, a qualitative research like this has many
aspects which are attributes and cannot be completely and thoroughly quantified.
An attempt has been made to do the same remaining in the confines of the
research.
The following tables and graphs give statistical details regarding all the data
collected through the questionnaire.
The initial details are personal details followed by a detailed discussion on the
answers and the interpretations thereon. The discussion also covers certain points
which may not have been part of the questionnaire but are relevant.
The last section is a study of the perceptions of the students pursuing these courses
and the future professionals. A need was felt to understand their ideas and
aspirations behind following these professions.
4.0 Miscellaneous details
 Name:
 Age:
 Sex:
 Employment/ Practice:
 Place of employment/Practice: Mumbai/Pune/Thane/Other:______
 Specific Profession: Chartered Accountant
Company Secretary
Cost and Management Accountant
75
4.0.1 Total Sample
City Total % Actual % CA CS CMA
Mumbai 192 51 61 92 70 30
Pune 108 29 31 50 32 26
Thane 79 21 23 30 25 24
Total 379 115 172 127 80
Total Sample
100 92
80 70
60 50
40 30 32 30 26
25 24
20
0
CA CS CMA
Mumbai 61% Pune 31% Thane 23%
An attempt was made to collect samples corresponding proportionately to the

respective population of the aforesaid cities. Naturally hence, Mumbai has
most samples, followed by Pune and Thane.
4.0.2 Gender wise division
Gender Total % Gender
Male 257 68
Female 122 32
Male 68% Female 32%
Both males and females were included in the sample. The results are as per
responses received on a non-biased ground.
76
4.0.3 Work type
Work Type Total % Work Type
Employed 167 44
Practice 212 56
Employed 44%
Practice 56%
The professionals are normally categorised as “practicing” or “employed”. A

practicing professional normally has his/her own office independently or in
partnership with fellow professionals. They normally work on retainer ship
basis and/or offer specialized services. They perform certifying functions too.
Professionals in employment are the compliance and managerial personnel.

They normally occupy positions in the higher middle management and perform
advisory services to the top management.
Both practicing and employed professionals have been included.
The questions in the questionnaire have been divided according to the PESTLE
factors and the interpretations have been made in that order
77
4.1 Political Environment
1. Do you have any specific political affiliations/perspectives?
o Yes o No
4.1.1 Do you have any specific

political affiliation?
81
298
Yes (21%) No (79%)
The interpretation of the question was more towards ‘registered’ affiliation,

which is not very prevalent in India as opposed to countries like U.K and
U.S.A where the citizens are officially registered as Labour, Conservative,
Republican, Democratic, etc. It was observed however that most professionals
have political preferences or inclinations towards a political ideology. This has
reflected in the consequent answers too as presence, preference and agreement
in political views was found to have an effect on the work culture. Thus,
although the respondents may not want to confess to a particular political
affiliation (as evident in the testing of the first hypothesis in the previous
chapter), some due to professional ethics, the preferences are definitely present.
The situation has changed especially in the last 5 years as many decisions of
the prevalent majority government have affected the working of professionals
directly. Thus the opinion voiced is to certain extent mixed in so much as
though the professionals may agree with the changes on a personal professional
level, the onus of convincing the clients the implications and ramifications
thereof in the short and long run is placed squarely on the professionals.
78
2. Political inclinations of colleagues/ staff/ fellow professionals affect the
work culture.
o Always o Rarely
o Sometimes o Never
4.1.2 Political inclination affects the work culture
29
149
Number of Respondents
105
96
0 20 40 60 80 100 120 140 160

Always (8%) 29
Sometimes (39%) 149
Rarely (28%) 105
Never (25%) 96
A question directly related to the topic, we see a more defined positive

response. The presence of social media has encouraged many to express their
political views more freely as there is a platform available. This has also
revealed political inclinations of colleagues and clients. Senior professionals
are of the opinion that politics was perhaps the last topic of active discussion
during seminars/conferences, etc. a few decades ago. The same topics
regarding plans, policies, procedures and performance of the government now
enjoy more discussion in all spheres, including the work environment.
79
3. Differences in client’s political opinion affect the work to be undertaken.
o Always o Rarely
o Sometimes o Never
4.1.3 Differences in client's political opinion

affects the work to be undertaken
150
100
50
0
Never (36%) 137
Rarely (28%) 105
Sometimes (34%) 127
Always (3%) 10
The professionalism of individuals and the resultant deterrence to align by a

particular political party/ ideology is seen here. The professionals are service
providers and problem solvers and hence the political opinion of the client does
not matter in the functioning of most professionals as these topics are
considered outside the scope of the work to be undertaken. Most professionals
have been successfully able to keep politics and functions separate. The ones
with strong political bent of mind do participate in voicing their opinions, but on
the personal level, not letting the work suffer due to it.
80
4. Dealing with colleagues/ staff/ fellow professionals/ clients is smoother if
they share the political opinion.
o Always o Rarely
o Sometimes o Never
4.1.4 Dealing with co-workers is smoother if they

share the political opinion
160
140
120
100
80
60
40
20
0
Never (18%) 67
Rarely (23%) 89
Sometimes (36%) 135
Always (23%) 88
This is a case in human psychology that we always get along with people
sharing the same values, principles, discipline, thinking pattern and
preferences, which could be in any field like entertainment, religion, cuisines,
geographical and cultural similarity, etc. Naturally, it couldn’t be different as
far as political opinion is concerned. There is a natural initiative towards
understanding the other person and that makes inter personal relations
smoother which reflects in the manifestation of work culture too. It may not
necessarily imply a conflict situation in the event of non-agreement but being
on the same page is always more comfortable.
81
5. The political environment has impacted work culture…
o To a great extent o To a small extent
o To a moderate extent o To a negligible extent
4.1.5 The political environment has impacted

work culture...
88 67
89
135
To a great extent (13%) To a moderate extent (33%)

To a small extent (30%) To a negligible extent (24%)
In-keeping with the earlier observations, professionals do not let the changing
political environments affect their responsibilities in any direct manner. There
is a relative divorce between the personal political opinion and functions
expected from them as an advisor, consultant, functionary or responsible
person. The response is mixed and it indicates that the impact could be of a
temporary nature not having long term effects.
82
6. The political environment in the country has an influence on the profession.
o Strongly agree o Disagree
o Agree o Strongly disagree
4.1.6 Political environment in the country has an

influence on the profession
250
200
150
100
50
0
Strongly Agree (18%) 68
Agree (59%) 223
Disagree (23%) 88
Strongly disagree (0%) 0
The sentiment seems very strong regarding the influence of the political
environment on the profession as a whole, if not much on the work culture. All
the governing bodies of professions are in close, constant and direct dialogue
with many of the ministries of the Government like the Ministry of Corporate
Affairs, Ministry of Finance and other quasi regulatory authorities like SEBI,
RBI, Regional Directors, Commissioners of Direct and Indirect taxes, etc.
Therefore the political environment has an impact on the profession as a whole

but not as far as office environments are concerned.
83
7. A stable Government at the State/ National level helps the development of
the profession.
4.1.7 A stable government at Central & State level

helps in the growth and development of the
profession
250
200
150
100
50
0
Agree (41%) 154
Disagree (2%) 7
Here too, the responses convey a strong preference for stability. It is proven
throughout history that stable governments are able to make better policy
decisions for the growth and development of a nation, state or province. The
professions harbor the same expectation. There is also a stability and clarity
with reference to the outlook and approach that a stable government will adopt
during its tenure. Changes made in policies and procedures become easier to
adapt to as the support provided remains constant. India had seen a few
decades of coalition governments coming to power and in some cases not
completing their terms resulting in re- elections and instability. This led to
fractured development of the professions as well because of non-continuity in
dialogue regarding the scope and role of professionals ‘between the governing
bodies and the Government.
84
4.2 Economic Environment
1. The economic environment has undergone significant changes in the last 5

years.
o Strongly disagree o Agree
o Disagree o Strongly agree
4.2.1 The economic environment has undergone

significance changes in the last 5 years
250
200
150
100
50
0
Agree (57%) 215
Disagree (3%) 11
The major economic change in the environment included the passing of the
GST Act and it being enforced since July 2017. The act has far reaching effects
as far as goods and services taxation in India is concerned. The passage of the
act was in a sense a confirmation of the Indian economy’s intention of aligning
itself with the global economy. We see that most developed and fast
developing countries have adopted this integrated style of indirect taxation. The
presence of similar systems of fiscal and monetary processes enhances the
global perception towards the economy and ensures that there is homogeneity
in taxation of goods and services across nations to reduce complications of
taxation during international trade. In this regard therefore, the passage of the
act was a step towards compliance with various norms and practices under
GATT to which India is a signatory.
It was found that Chartered Accountants were major stakeholders in the

process of conceptualisation, drafting and execution of the act. It was obvious
85
that they be made part of the process as the primary responsibility of
interpretation, application and compliance lay with them. They were faced by a
herculean task of first convincing clients (especially medium and marginal
traders), of the various advantages and benefits of the same. Although the
system seemed cumbersome and arbitrary in the beginning, it has long term
effects on the economy and the wellbeing of traders too. It ensured to bring
under the tax net, many such traders who were getting personal gains by
noncompliance to various previous acts like The Sales Tax Act, VAT,
Customs, etc. This new system of umbrella tax has effectively included such
businesses in the economy and made sure they contribute towards national
income.
However, convincing such traders and businesses was not at all easy. The
implementation of the Act by the government also left many things to be
wished for. As the entire concept is very new, the systems are still getting
streamlined. It will be some time until there is a flow of processes established
at both the government and professional levels. The frequent notifications in
this regard also keep professionals on their toes as they must update themselves
of the same. The major credit for the implementation of this act thus goes to
such professionals.
86
2. The change is in the economic environment, with reference to the
profession, is positive.
4.2.2 The changes is in the economic environment,

with reference to the profession, is positive
11
56
126
186

The introduction of GST and the presence of existing laws has made
compliances extremely necessary. Thus we see that the scope of professionals
is increasing day by day. The complex nature of the changes in economic
systems, new acts being brought in force and changes in the present conditions
(like the annual Finance acts) have made sure that professional services are
required by a larger number of business organisations. The entire time line of
proper scanning of environment regarding upcoming changes, proactive
preparation for the same, orientation of the changes and the immediate
application in business is very short. It is therefore believed that only such
professionals with the requisite knowledge, training and experience will be
handle such rapid changes.
There has also been a boost to transparency and accountability norms in

different governmental authorities and organisations too. The professionals are
able to deliver the advantages of the same to the business community.
87
3. New Economic policies like GST and demonetization are changes that
impact the profession.
4.2.3 New economic policies like GST and

demonetization are changes that impact the
profession
23 2
108
246

New policies concerning the economy place a direct onus of creating

awareness and ensuring compliance in implementation on the professionals.
With the increasing emphasis on ‘Less Government, More Governance’, the
government is actually delegating a lot of its responsibilities to the
professionals. This is evident from the fact that majority of the significant
documents are not permissible to be filed with government authorities without
the certification by such professionals.
This leads to a direct impact on the expectations the government, businesses

and society at large have from such professionals. It places them in a position
of authority as the same time that of responsibility. This kind of expectation
stems from the strong work ethic and culture prevalent among these
professionals. These expectations in turn affect the work culture in so much as
to be able to justify the confidence placed upon them and delivering the best
results possible.
88
4. Economic concepts like startups, IPOs, online trading, etc. benefit the
profession.
4.2.4 Economic concepts like startups, IPOs,

online trading, etc. benefit the profession
180
160
140
120
100
80
60
40
20
0
Agree (45%) 171
Disagree (8%) 32
Startups is a relatively new concept in India. It basically means:
“The act or fact of starting something, a setting in motion, a new business

venture, or a new commercial or industrial project.”1
It is the starting of new commercial ventures, especially in the present scenario

of encouragement to entrepreneurship as opposed to finding a job. The startups
are usually unique ideas or a new twist to an existing concept. We generally see
the newer generation which is technologically more savvy, come up with
startups. However, they are not outside the scope of existing laws and
regulations. The professionals are a helping hand in taking these things off the
mind of such young entrepreneurs. It also helps the professionals keep
themselves abreast of the international requirement as many of these startups
are not confined to India alone. The progress in information technology has
provided a global platform to such ventures.
1
https://www.dictionary.com/browse/startup
89
IPOs is the event in which an incorporated company offers capital contribution
through instruments likes equity shares, preference shares or debentures to the
general public. It has been one of the popular methods of corporate funding.
Mostly, companies which are going for an IPO are listed companies or go
ahead and get themselves listed on recognized stock exchanges after the issue.
This lends more credibility to the instruments as every recognized stock
exchange performs a very stringent due diligence before allowing the securities
to be listed. The provisions of the Customer Protection Guidelines issued by
SEBI in this regard are very important as SEBI being the quasi-judicial
authority has to ensure safety of investors as its first priority.
The process of coming out with an IPO involves a myriad of compliances with
numerous agencies, both Government and quasi-judicial ones, more
prominently SEBI, Registrar of Companies, Banks, Merchant Bankers,
Underwriters, Financial institutions (in case of loan capital), Registrars to the
issue, existing shareholders, creditors, advertising agencies, etc. The most
important job in an IPO is to coordinate all the above agencies and at the same
time stick to the compliance timelines, both before and after the issue. This
necessitates the presence of a competent person who is aware of the
functioning of all these agencies and can act like a liasoning officer. Here,
Company Secretaries perform a major role of being the executory arm of the
company, forming a bridge between agencies inside and outside of the
company and making sure that the agencies hired/ appointed are functioning in
tandem.
As the number of startups, IPOs, events of corporate restructuring like mergers,

acquisitions, takeovers, etc. are getting popular, they have enhanced the reach,
need and requirement of professionals, directly augmenting the role of such
professionals.
90
5. Indian professionals have benefitted from global trade and commerce,
MNCs setting up shop in India, initiatives like Make in India and Ease of
doing business, etc.
4.2.5 Indian professionals have benefited from

global trade and commerce, MNCs setting up
shop in India, initiatives like Make in India and
Ease of doing business, etc
250
200
150
100
50
0
Agree (57%) 216
Disagree (7%) 28
The entire gamut of the recent economic overtures has been to attract foreign
investments in India. The various prospective investors always like to examine
the kind of environment in a country, not restricted to economic environment,
to assess the same and form a basis for a cost benefit analysis. As foreign
investors, it is observed that they always prefer having a qualified,
knowledgeable and competent person at the helm of affairs where they are
invested. The rigors of acquiring a professional qualification is widely known
and similar programmes exist in other countries too. Add to it the fact that in
the event of possible proved misdemeanour, a professional is liable to lose his
license / certificate of practice/ membership brings in more confidence in
professionals in the perception towards such proficient individuals. Thus, most
foreign investors are inclined towards having professionals in the day to day
operations of the commercial organisation to safeguard their investments
therein.
91
6. The economic environment has impacted work culture…
4.2.6 The economic environment has impacted

work culture...
18
44
146
171

As discussed so far, increased scope for the professionals, high confidence

levels, their adeptness at handling ever changing situations, justifying
perceptions of domestic agencies as well as foreign investors and being looked
upon as an independent expert, has made it imperative for the professionals to
make adjustments in the working styles which results in impacting the work
culture. Although the economic environment may impact one profession more
than the other, the need for accelerated adaptation to changing circumstances
compels the change in the work culture to anticipate the changes in near and
immediate future. Technology and support from colleagues, fellow
professionals and parent institutes helps the professionals to cope with the rapid
pace of change.
92
7. Professionals’ opinion is solicited while framing economic policies.
4.2.7 Professionals' opinion is solicited while

framing economic policies
300
250
200
150
100
50
0
Agree (64%) 241
Disagree (10%) 39
Most of the legal acts, provisions, policies, etc. place the encumbrance of
compliance with the professionals. The professionals are actively engaged in
the implementation of these policies and procedures. It is only essential
therefore that they play an inclusive role in the framing of the same. A method
of trial and error would cause delays and a wastage of time, money and effort.
The professionals are directly involved in policies having a most obvious

impact on their particular profession. E.g. Chartered Accountants in GST,
Company Secretaries in Companies Act, etc. They are also consulted by the
government for their analytical opinions on related matters. To this degree, the
inputs of professionals is vital in the policy making process which in turn
contributes towards the overall economic growth, stability and development,
ensuring ease of business and a better international image to embolden newer
foreign investments.
93
4.3 Socio-culture Environment
1. People with various cultural backgrounds improve work culture with

reference to interpersonal relations/ work environment.
4.3.1 People with various cultural backgrounds

improve work culture with reference to inter
personal relations/work environment
300
250
200
150
100
50
0
Agree (75%) 283
Disagree (3%) 10
India has always been an epicentre of origin of various different cultures and
also a melting pot for all of them. The long history of our country has seen
multiple invasions. However, most invaders stayed back and their culture along
with their customs, cuisines, religions, art, language, etc. became a part of the
fabric of Indian culture as we know it today. Hence, India has always been
tolerant and all-encompassing in this regard.
One observes a huge diversity in such a population that is India. As the western
part of Maharashtra, more specifically Pune and Mumbai (MMRDA), offers a
host of opportunities in the earning of a livelihood, we see people from various
parts of the country converging here. The Mumbai region is an excellent
example of this multiculturism. As such people come to Mumbai/Pune regions,
they bring along their cultures and all things associated with it. So
characteristically the work place also sees a fusion of cultures. This pluralism is
seen in the celebration of various festivals along with the work colleagues
94
which enhances the inter personal relations making people more comfortable
with each other, at the same time getting to know about practices and beliefs
outside their own. The common celebrations are a binding factor in any group
of individuals, so is the case in office environments too. It definitely helps
improving morale and productivity amongst people due to the increased sense
of security and acceptance, along with making the office atmosphere more
lively and colourful.
95
2. Multi culturalism is encouraged in the work place.
4.3.2 Multi culturalism is encouraged in the work

place
300
250
200
150
100
50
0
Agree (65%) 248
Disagree (10%) 38
The demographics of cosmopolitan cities makes it inevitable that the work

force comprises of people from different parts of the country. In the case of
India it translates into a variety of languages, religions, cultures and belief
systems. The major concern for any organisation in the commercial arena is
qualification and competence. The other attributes of caste, colour, religion,
language thus fade into the background and the work place automatically
becomes more accepting. Thankfully, there is no caste based reservation in
granting of professional qualification (as in the case of the Indian Armed
Forces) and therefore a person is evaluated purely on the basis of merit. It is
evident that the office demographics is also a reflection of the same and so is
encouraged.
96
3. There are discussions regarding prevalent social issues in the workplace.
o Always o Rarely
o Sometimes o Never
4.3.3 There are discussions regarding prevalent

social issues in the workplace
250
200
150
100
50
0
Always (28%) 106
Sometimes (57%) 215
Rarely (11%) 42
Never (4%) 16
Social issues are a part of every living, vibrant society. They may relate to
various facets of society, from national to local. Some of the problems may
also have a reflection on the work force. Discussions on such issues help in
understanding the different viewpoints and facts related to a particular issue.
The access to information has also made it possible to keep oneself informed
and participate in such discussions. There is a natural tendency of any
intelligent human being to voice concerns, opinions and expect a fruitful
discussion on the same either with a view to understand the problem/
phenomenon or to find a solution to it.
However, some sensitive subjects do also come up to which people have

extreme reactions or have formed hard-line opinions. Normally, such topics get
identified soon enough and are generally avoided.
97
4. Social media plays a significant role in the establishment, growth and
development of work culture.
4.3.4 Social media plays a significant role in the

establishment, growth and development of work
culture
26
61
153
139

Social media has become an omnipresent entity. People are on social networks
either out of choice or out of compulsions. The opinions and views are
expressed on various such platforms. It also reflects one’s personality at times.
Many HR managers today scan social media profiles of prospective candidates
before shortlisting prospective candidates. Social media is not something that
can be ignored. So the better option is to use it for the advancement of
professionals in their day to day challenges. Many WhatsApp groups
exclusively for such purposes are formed amongst professionals for sharing of
information, updates, voicing queries, their possible solutions, etc. There is
thus a support system or professionals which can be created for smoother day
to day functioning.
Learning, unlearning and relearning is a constant process for professionals with

the frequent changes in operating processes, new notifications, new forms, etc.
Social media and networks speeds up the process of keeping oneself updated
and immediately incorporate the changes in their work.
98
Social media has also become a good platform for creating awareness about
various current issues of the profession and the means of finding solutions
thereon. The chapter offices of parent institutions carry out such programmes
on a regular basis. Communication about such activities is easier with such
channels.
Inter personal communication is also better with such applications and

therefore due to presence of an open channel of contact, there is more
transparency and accountability regarding the work to be performed.
Assignment and follow up also becomes easier as jobs assigned are put up on
office groups. It also serves as an informal reporting system. There could be an
independent MIS, especially in larger organisations and firms. However, for
smaller establishments these applications function as check points and ensure
smooth flow of working.
99
5. How easy is it for people of different cultures to mingle in the work place?
o Always o Rarely
o Sometimes o Never
4.3.5 It is easy for people of different cultures to

mingle in the workplace
250
200
150
100
50
0
Always (37%) 139
Sometimes (57%) 216
Rarely (6%) 24
Never (0%) 0
In case of persons growing up in a cosmopolitan environment, this is almost a

non-issue. Sometimes it becomes difficult to adjust to the habits of certain
people not sharing the cultural background. Many a times efforts are made to
orient them to organisational culture or the work culture, even though they may
be stepping on some toes on the personal front. This kind of response is very
heartening as it shows the magnanimity of people to be able to include others
with different cultural backgrounds and still exist in harmony. The language
seldom becomes a barrier with English and Hindi being the languages of
preference. This kind of openness is also evident towards non- Indians with
whom contact is increased due to many organisations being MNCs or having
some kind of foreign collaborations.
100
6. The demographic changes have led to increase in the number of women in
the profession/ workplace.
o Strongly agree o Agree
o Disagree o Strongly disagree
4.3.6 The demographic changes have led to

increase in the number of women in the
profession/workplace
250
200
150
100
50
0
Agree (51%) 195
Disagree (6%) 22
Most urban areas and Tier I and II cities see a large population of women being
part of the workforce. The greater educational opportunities have helped
women explore their potential in these areas for a substantial amount of time
now. These places in Maharashtra have actually been at the root of the social
transformation regarding women education. A better sex ratio as a result of
education is also seen in such urban areas. Hence, highly qualified women are
no more a rarity. The women are thus equipped with the proper education and
exposure required for the profession.
The increased cost of living along with the better standards of life that one
aspires for compels women to make active use of their qualification and
contribute towards the household. This may be for personal financial
independence or as a supplementary income. In each case, the presence of
women in the workforce has risen significantly in the past few decades.
101
7. There is negative gender discrimination in the work place.
o Always o Rarely
o Sometimes o Never
4.3.7 There is negative gender discrimination in

the workplace
180
160
140
120
100
80
60
40
20
0
Always (7%) 26
Sometimes (42%) 161
Rarely (32%) 123
Never (18%) 69
The responses indicate that there are times when a discrimination is noticed in
the workplace. These are many a times due to certain limitations mentioned
later like reluctance to stay back late, domestic issues, security issues, etc. In
certain cases, though the women may be ready to work without encumbrances,
the organisations are not too comfortable assigning jobs that may require such
adjustments. The professional approach is normally to assign the job to the
most competent person, irrespective of sex and also of getting it done. Many
organisations/ firms give concessions in some cases. However, finally, in most
cases it’s the competence of the respective person that determines whether the
discrimination is positive or negative.
102
8. There is negative gender discrimination in the work place.
o Always o Rarely
o Sometimes o Never
4.3.8 What kind of issues are faced by women in

the workplace? (feel free to choose multiple
options, if applicable)
300
250
200
150
100
50
0
Adjusting work
Staying back late timings due to Work from home Safety and
(71%) domestic reason options (21%) security (47%)
(69%)
No of respondents 270 263 81 179
Here too, the trend of unwillingness is when the work involves staying back
late and due to domestic issues. Staying back late taken along with safety and
security concerns have emerged as restricting factors, especially in the past
decade. Earlier the problem lay in the mindset of the family members and
women themselves. As times have changed, the family mindset has changed
but the situation in society has worsened with women not feeling safe while
commuting at odd hours.
In our culture, we still don’t have the concept of equal sharing of domestic
responsibilities by both husband and wife. All major responsibilities regarding
food and children (academic, health, etc.) are relegated to the women, in spite
of the fact that even they could be working a full day at office. This dual
responsibility tires the women mentally and physically. There is still lack of
participation and awareness regarding the distribution of responsibilities. While
this could be a topic of debate, many men are brought up to believe that they
are not supposed to engage in household chores. This scenario must now
103
change as women are performing a more active role of being partners in
income earning. There are a few initiatives being taken but there is a long road
to be travelled till India can match the domestic cultures of the more developed
countries.
Many a times, work from home options are limited and so juggling work and
home becomes even more difficult. Many discussions are happening on various
levels regarding such problems. Better understanding and empathy towards the
situation of women is required at the work place too. The concessions given in
certain cases are looked upon as discrimination by the male colleagues. The
time when both the sexes appreciate the problems and challenges faced by the
other, will be the time the work culture will improve significantly.
104
9. The firm/ organisation adjusts/ understands the problems faced by women.
o Always o Rarely
o Sometimes o Never
4.3.9 The firm/organisation adjusts/ understands

the problems faced by women
180
160
140
120
100
80
60
40
20
0
Always (44%) 165
Sometimes (44%) 165
Rarely (13%) 49
Never (0%) 0
Most organisations/ firms are making the effort to understand the problems
faced by women and offer solutions to the same. As seen before, women are an
increasing component of the workforce and ignoring their demands and
difficulties will only lead to a drop in productivity. One must take into
consideration the fact that each person/ woman is unique, as are the problems
faced. Not making a mountain out of a mole hill becomes as important. Thus,
such matters become sensitive and making blanket policies becomes difficult.
Most firms do have strict policies especially at the times of deadlines and
pressure periods like dates for filing, etc. Many firms allow work from home
too. The bottom line here is that the work needs to be done in time and
according to the satisfaction of the client, without compromising on
professional standards. Once such competence is proved, the firms do not have
a problem adjusting during non-peak less pressure situations.
105
10. There have been foreign influences on work culture in the last 5 years.
4.3.10 There have been foreign influences with

reference to time and methods of working on work
culture in the past few years
38
94
105
142

Foreign influences can be divided into two major parts:
First, the ones due to direct foreign collaborations,
Second, due to the various principles and practices adopted for improving work
culture and productivity having their origin abroad.
In the first case there is direct contact with the work cultures of firms/
organisations and it becomes indispensable for the Indian counterparts to adjust
accordingly. The work culture, especially in developed countries is more
transparent, flexible and professional. The constant contact and interaction with
these cultures naturally influences the way of doing things. It would not be an
overstatement to say that foreign influences have made a difference. However,
Indian work force per se still feels quite insecure as far as competition and their
place in the organisation is concerned. Thus, they haven’t been able to adopt
the ‘weekend culture’ wherein there is total devotion towards family during the
weekend. Also, in cases where Indian firm is the ‘small brother’ counterpart, it
has to adjust with the work timings and practices of the foreign firm. In all,
106
such influences do bring in homogeneity in working and encourage such
collaborations which is way forward for Indian professionals.
The second part constitutes the various practices and principles adopted by
professionals and businesses for business analysis and effective and better
productivity, which emanate mostly from the developed nations, the examples
being the concepts of Six Sigma, Quality circles, MBO, BCG matrix, etc. It is
seen that even today, most systems for betterment of business and
commentaries thereon originate from foreign authors. These theories cannot be
applied directly in the Indian context. However, the original thinking to solve
India specific problems is still pretty stagnant, with not enough research and
pilot projects happening. We still look towards developed countries for the
solutions for our problems, which cannot be a ‘copy and paste’ answer as the
technology adoption, level of mechanisation, work culture differ to a great
extent. The trend still is to learn a technique propounded by such countries and
tweak it to suit our needs.
In a nutshell, foreign influences are all around us in these times of the entire
world being a global village. The decision of what to adopt, what to adapt to,
what to invent and how much we let the foreign influences affect our natural
instincts and inclinations is a decision that professionals need to make. The
common perception normally that whatever is foreign is great news! However,
that may not be the case all the time. The theory, system or principal must be
examined in the Indian context, with reference to the prevalent environment in
India.
107
4.4 Technological Environment
1. Technology has enhanced the ease of activities related to the profession.
4.4.1 Technology has enhanced the ease of the

activities related the profession
90
53
317

There is no surprise here as all the professions today rely heavily on the
technologies available, right from preparation of documents to filing them with
the concerned authorities and even keeping a track of the progress thereon.
This has granted a lot of flexibility of working hours and the ease and speed
with which functions can be performed. The parent institutions now insist on
computer technology related training too which is imparted as a part of the
course curriculum. All the major compliance related authorities have online
filing systems which again ensures that documents are properly filled in, with
proper certification and payment of the prescribed fees. It has reduced red-
tapism to a great extent making the work progressing in a speedier manner.
Technology has also helped in making the work more efficient and less time
consuming.
108
2. Technology has improved the communication with clients, staff,
colleagues, fellow professionals.
o Yes o No
4.4.2 Technology has improved the communication

with clients, staff, colleagues, fellow professionals
4
375
Yes (99%) No (1%)
This again is almost a no brainer. The revolution in information technology in

the last couple of decades has resulted in spreading of communication
technologies with better expanse and depth. A person not being available
during a working day seems almost non- realistic. The expectations of clients,
staff, colleagues and fellow professionals are that one must be available at all
times during the working hours and sometimes even otherwise.
The advancement in communication technology also ensures that requirements

are conveyed to relevant parties in good time and enough time is made
available to gather information and resources. The one to one instant
communication is also improved irrespective of geographical locations as well.
Professionals can also get their queries solved through fellow professionals,
Government agencies or even the internet in real quick time to reduce down
time and confusion which may arise in certain unique situations. There is also
speedier delivery of documents and information in the digital formats. For
example, many documents require the digital signatures of Directors. The
professionals can fill up the form according to the information, send it over for
digital signature, certify the document and upload it on the government sites
109
more effectively and efficiently without anyone leaving the comfort of their
work places.
Thus, information technology has become the foundation stones on which the
smooth conduct of the profession depends. As evident in the earlier chapter, it
has a significant impact on the work culture of professionals.
110
3. It has given rise to more transparency and accountability
4.4.3 Technology has given rise to more

transparency and accountability
3 5
65
306

As mentioned earlier, the shift of most work related to filing is now online,
reducing the delays and red tapism which used to be commonplace for
governmental authorities. The work is also assigned to specific individuals in
the government offices, with a deadline prescribed for each kind of work. This
helps in creating a lot of transparency and fixing of accountability for work to
be done. There is no more a case of passing the buck. In case of specific
queries, they are put up by the officials so that the concerned professional may
respond with the relevant information, changes or other modifications
necessary to the document. All these transactions are technology enabled and
hence out there for everyone to see.
Among the firms and organisations too, technology has created a common
communication platform which makes it easier to assign and track the work.
This helps in appraisal in future. It is important that all the entities of any
organisation work in coordination with each other. ‘Coordination is the essence
of management’ is one of the basic principle taught to commerce and
management students. This coordination is secured through the technologies
available today.
111
4. Clients expect speedier consultation/ execution due to technology.
o Always o Rarely
o Sometimes o Never
4.4.4 Clients expect speedier consultation/

execution due to technology
350
300
250
200
150
100
50
0
Always (85%) 321
Sometimes (15%) 57
Rarely (0%) 1
Never (0%) 0
The expectations from professionals is increasing day by day. Not just

professionals, but this kind of expectation is had from all kinds of goods and
service providers due to the instant gratification approach of everyone today.
The availability of technology sometimes creates a lot of pressure on
professionals leading to a change in work cultures where the focus is on
satisfying the client in the best possible manner. However, it needs to be
remembered that the work of professionals is not restricted to a set format.
Each case is different, posing different challenges. They need to apply their
knowledge and expertise before offering a solution to a problem. The access to
technology does not always help in quick resolution of matters in hand.
However, the impatience is evident. The professionals need to keep in mind
that in spite of the expectation from the clients, the primary duty is to come up
with a viable and pragmatic solution by taking the time necessary thereon.
Thus, most professionals have developed a work culture of excellence over
impatience.
112
5. Technological advancement results in duplication of effort and record
keeping
o Always o Rarely
o Sometimes o Never
4.4.5 Technological advancement results in

duplication of effort and record keeping
250
200
150
100
50
0
Always (9%) 36
Sometimes (52%) 198
Rarely (31%) 117
Never (7%) 28
Here, the response is mixed. Many veteran professionals still do not trust
computer backups and insist on maintaining records in hard copies as well. The
newer generation seems more comfortable with storing data using the latest in
available storage options like cloud storage, hard drives, etc. therefore in case
of some professionals there is duplication of work in respect of having
information stored in soft as well as hard copies.
The processing part is mostly done on computers therefore no duplication takes

place in that area.
The preferences of clients must also be taken into consideration. Small or

family businesses prefer to have records in hard copy while larger
organisations have their own databases where they can store the data and so ask
only for soft copies. The professionals normally cater to specific requirements.
113
6. Security issues are a deterrent in using information technology
o Always o Rarely
o Sometimes o Never
4.4.6 Security issues are a deterrent in using

information technology
250
200
150
100
50
0
Always (32%) 122
Sometimes (53%) 199
Rarely (15%) 58
Never (0%) 0
Although storage and security options available are multi-fold, there still
remains the risk of data being corrupted due to viruses attacking the storage
devices. Therefore professionals still seem a bit wary about security issues.
Although online payment options are available for payment of fees for various
filings, only smaller amounts are paid online. There is a preference for paying
larger amounts of fees in the bank through a challan generated online.
Another area of security concern are the digital signatures which have to be
applied by Directors on various forms. The possession and security of the same
are a matter of care. Both professionals and Directors must take due care
regarding its safekeeping. Many Directors, especially of smaller businesses
also keep the signatures in the custody of the professionals. This reposes
additional responsibility on the professionals.
114
7. There are privacy/ confidentiality issues due to technology.
o Always o Rarely
o Sometimes o Never
4.4.7 Security issues are a deterrent in using

information technology
250
200
150
100
50
0
Always (33%) 128
Sometimes (51%) 192
Rarely (16%) 60
Never (0%) 1
Various Governmental authorities have prescribed certain operating systems

and firewalls to ensure security of the documents being uploaded on the official
websites. There is also an increasing preference for storing the information on
computer systems. However, there have been instances of relapses in the
systems and server problems which have the professionals a bit skeptical even
till date. This is more so in case of the older professionals. Data relating to
companies being exchanged on information systems like e-mails contains
confidential information at times. The instances of hacking, duplicate accounts
and phishing have highlighted the security issues of late. The younger
generation is more open to operating entirely on the information systems and
do take some necessary precautions. The various RBI notifications have made
online transactions more secure. Thus the entire scope of information exchange
and economic transactions is under the scanner.
115
The mere presence of information technology laws is not a security enough still
now. All major police stations have IT crime cells but the procedure and action
is still not deemed enough.
116
4.5 Legal Environment
1. The legal environment is important to the profession.
4.5.1 The legal environment is important to the

profession
16 1
67
295

Commerce professionals normally function within the framework of various

laws and acts. Most of the functions of professionals are related to
compliances. Therefore the legal environment has a direct impact on the
working of the professionals. In most cases, the professionals and parent
institutions are also a part of the process of formation and drafting of the
respective laws as the government expects them to take the onus of application
of these laws in industry and trade.
The various legislations like The Income Tax Act, 1962, GST Act, 2017,
Companies Act, 2013 also give powers of representation to these qualified
professionals. Professionals have the power to stand for their clients and
present and defend the case in various forums like NCLT and in front of
authorities like Registrar of Companies, Commissioners of Income tax, etc.
Thus, having the orientation regarding the prevalent laws and scanning the
environment for possible future changes helps the professionals to cope better
with the impending changes.
117
2. The prevalent laws give enough autonomy to professionals.
o Strongly agree o Agree
4.5.2 The prevalent laws give enough autonomy to

professionals
300
250
200
150
100
50
0
Agree (73%) 276
Disagree (12%) 44
Autonomy is the freedom and authority given to a particular class of people or

organisations for them to take certain decisions for the smooth functioning in
their field of operation. When the government expects the professionals to
participate in the concept of ‘Less Government and More Governance’, it
should be followed by necessary delegation of authority to the professionals for
them to execute their responsibilities, in keeping with the principle of authority
being in proportion to responsibility.
The same autonomy is required from clients too as professionals function in

problem solving roles. Once the professionals get all the required information
and data, there must be autonomy for the professionals to process the
information in the light of the situation.
The professionals seem to be satisfied with the level of autonomy granted by

Government and quasi government authorities as well as from the clients.
118
3. The Indian Legal System, the laws and especially those concerning
professionals needs an overhaul
4.5.3 The Indian Legal System, the laws and

especially those concerning professionals need an
overhaul
250
200
150
100
50
0
Agree (62%) 236
Disagree (7%) 26
The responses to this question reveal that the laws in the country are not
evolving as fast as the environments are changing. Legal environments are a
mirror of the social, cultural and economic changes happening in society. The
pace of change has been very fast, especially in the last two decades.
Most of the laws in practice are still redundant as the laws have been unable to
cope. This trend has been changing in the last few years taking into
consideration the new Companies Act, 2013 and the GST Act, 2017. However,
many other acts governing the basic tenets of business are still archaic.
Many a times it is observed that the laws and procedures have some loopholes
or the provisions have become redundant. Harmonizing such bygone
provisions with the new laws makes it difficult for the professionals to
reconcile with the present circumstances. Thus most professionals are of the
opinion that most laws are in need of an overhaul.
119
4. Enactment of laws like Companies Act, 2013, Goods and Services Act,
2017 has widened the scope of the profession.
4.5.4 Enactment of laws like Companies Act, 2013,

Goods and Services Act, 2017 has widened the
scope of the profession
1 0
17
271

There is a clear majority in this opinion as there has been a major shift in the
way the new enactments have been approached. A paradigm shift can be
observed in the nature of laws enacted in view of the changing social and
economic environment. Many amendments had taken place in the last few
years, but as the economy has expanded, the need was felt to scrap these old
acts once and for all and adopt new laws made in view of changing
environments and the need to be in tune with the global scenario.
The professionals are aware of the pulse of the business and industry and thus
are able to anticipate, and in many cases, effect the changes. Their in-depth
understanding of the drawbacks, means of overcoming them and the
procedures to do so in the new enactments make them experts in the field. The
process of understanding and interpreting the complexities of the change and to
incorporate them seamlessly in the day to day working of the business.
120
The new acts have also opened up newer areas of practice and gaining of
expertise. Earlier, professionals had limited scope of representation on tribunals
like NCLT. The new legislations have enhanced the classes of practice,
widening the expanse of topics where opinion could be sought.
121
5. Enough gestation period is provided from the introduction of a new act to
its application.
4.5.5 Enough gestation period is provided from

the introduction of a new act to its application
300
250
200
150
100
50
0
Agree (69%) 261
Disagree (18%) 69
There is a defined procedure for the implementation of any act. Whenever an

act or amendment is passed by the Parliament, or notification is made in any
respect, it is notified in the Official Gazette, specifying the date from which the
act, notification or amendment will come into effect. This date is normally a
few months away. The idea is that the entities to whom the act, amendment or
notification applies, gets enough time to understand the changes and put them
in practice. This period is called the gestation period.
The professionals are satisfied with the amount of time and also the support
offered by respective institutions and the government authorities. Unless
enough time is provided for the proper understanding of the changes, the
implementation will not be smooth resulting in confusion and delays.
122
6. The present Indian Legal System is suitable to incorporate and adjust to the
ongoing changes.
4.5.6 The present Indian Legal System is suitable

to incorporate and adjust to the ongoing changes
250
200
150
100
50
0
Agree (61%) 231
Disagree (25%) 96
The responses to this question seems an anti-thesis of the answers above. The
interpretation is that while professionals believe that the existing laws need an
overhaul, the basic legal system is robust enough to absorb and incorporate the
changes if made. The legal system and the jurisprudence is strong enough and
also provisions could be made for additional quasi-judicial establishments and
tribunals for speedy handling of grievances. This will also lighten the burden
on the existing judicial machinery and help in the efficient handling of act
specific queries and disputes by experts in the particular field having the
requisite qualifications, experience and insights for better understanding of the
same.
123
7. Loopholes/ inefficiencies/ impracticability of various laws and procedures
are brought to the notice of the concerned authorities.
o Always o Rarely
o Sometimes o Never
4.5.7 Loopholes/ inefficiencies/ impracticability of

various laws and procedures are brought to the
notice of the concerned authorities
300
250
200
150
100
50
0
Always (27%) 102
Sometimes (63%) 239
Rarely (9%) 36
Never (1%) 2
The professionals are an active participant in the process of evolution of

various new acts, amendments, etc. A proper feedback is necessary for making
improvements in the existing and new systems and procedures. The
professionals are best suited to point out such deficiencies as they are in close
contact with their working. Such problems could lead to losses, duplication and
disadvantages to their clients. It is also found that many government authorities
seek out such suggestions from professionals to improve the working of act.
124
8. The Government actively involves professional bodies in the decision
making process for respective laws. (eg. Chartered Accountants in case of
GST or Company Secretaries in case of Companies Act, etc)
o Always o Rarely
o Sometimes o Never
4.5.8 The Government actively involves

professional bodies in the decision making process
for respective laws (eg. Chartered Accountants in
case of GST or Company Secretaries in case of
Companies Act, etc)
200
180
160
140
120
100
80
60
40
20
0
Always (47%) 179
Sometimes (45%) 170
Rarely (8%) 29
Never (0%) 1
As explained earlier, professionals play an active role in the enactment of

profession related laws right from their inception to their implementation
stages. It is advantageous for the government o involve them as they are
experienced and seasoned in their areas of expertise. It helps in the reduction of
the ‘trial and error’ mistakes that could be made. The professionals are well
versed with the nuances of the working of the systems and can contribute with
logical and pragmatic insights and inputs to make the laws as complete as
possible. This is done by having seminars and conferences on the upcoming
changes in the various chapters and regional councils. The cumulative feedback
is then conveyed to the respective ministry/ authorities. These suggestions and
opinions are then evaluated and if found reasonable, incorporated in the draft of
the act, amendment, etc.
125
4.6 Ethical Environment
1. The code of conduct prescribed by the respective institution is sufficient.
4.6.1 The code of conduct prescribed by the

respective institution is sufficient
12
40
102
225

Every institution has a defined code of conduct to be ingrained and practiced

by the members of the Institution. These include many different aspects of how
members should conduct themselves while employed as such, the rules for
reporting a malpractice, procedures for action against complaints and such
other matters. However, with changing circumstances, the idea of what
constitutes ethics is undergoing a mild transformation. The lines between
ethical and non-ethical are growing more and more blurred. Thus, members
find the code of conduct only moderately sufficient.
126
2. Ethical dilemmas are resolved by consultation with (Please tick multiple
options , if necessary)
o Respective Institutions o Clients
o Fellow professionals o Society
o Colleagues o Family
o Staff members
o Any other: Please specify ________________
4.6.2 Ethical dilemmas are resolved by

consultation with...
95
205 88
106
142
251 35 1
175
Respective Institutions Fellow Professionals

Colleagues Staff Members
Clients Society
Family Others
We see a large majority of professionals depending upon their fellows as they

feel that they are sailing in the same boat and the possibility that colleagues
may have experienced the circumstances before and that they could be able to
guide them better. The institutions are also instrumental in helping
professionals through such times of doubt. The personal families are also of
help in making important decisions regarding such ethical dilemmas. Thus, it is
seen that majority of the guidance comes from those in the profession itself.
127
3. Ethical principles score over client preferences and opinions.
o Always o Rarely
o Sometimes o Never
4.6.3 Ethical principles score over client

preferences and opinions
250
200
150
100
50
0
Always (41%) 155
Sometimes (51%) 193
Rarely (22%) 22
Never (9%) 9
The findings here are a bit surprising, justifying a limited use of the defined
code of conduct. More than 50% professionals feel that ethics are above client
preferences, but only sometimes. The difference between “right and wrong”
and “what is convenient or not” is now under a scanner. The values and
principles binding the professions together has many grey areas which are open
for individual interpretation. However, they still remain the holistic backbone
of the professions having the largest impact as discussed earlier.
128
4. Ethical practices are a strong part of work culture
o Always o Rarely
o Sometimes o Never
4.6.4 Ethical practices are a strong part of work

culture
300
250
200
150
100
50
0
Always (66%) 250
Sometimes (28%) 105
Rarely (3%) 11
Never (3%) 13
Abiding by the prescribed ethics is a natural reaction amongst professionals

due to the conditioning they are subjected to from early stages of their
education. There are severe consequences of proven misconducts by the
institutions, sometimes resulting in loss of membership of the institution which
is looked upon as a disgrace. It is both injury and insult as it results in loss of
employment opportunities. Thus, respecting the code of conduct becomes the
part of the fabric of work culture. When any practice becomes a matter of
routine and gets ingrained in the working of professionals, it becomes
commonplace and taken for granted. It becomes an indispensable part of
everyday working making it second nature.
All professions pride themselves on the strict implementation of the code of

conduct.
129
5. Ethics are closely associated with the perception of profession.
o Always o Rarely
o Sometimes o Never
4.6.5 Ethics are closely associated with the

perception of profession
300
250
200
150
100
50
0
Always (67%) 255
Sometimes (28%) 105
Rarely (4%) 15
Never (1%) 4
The perception about professionals is of people who are highly qualified and
knowledgeable in their fields. They enjoy an eminent position is society too.
The different attributes associated with professionals are the value addition
they provide, their contribution towards decision making at the top
management level, their role as problem solvers, their experience and personal
touch have the underlying foundation and conditioning of strong ethical values.
130
4.7 Perception of students pursuing professional courses
1. How did you come to know about the Professional courses?
o College o Friends
o Family o Professional Websites
o Newspapers, magazines, etc
4.7.1 How did you come to know about

professional courses?
45
40
35
30
25
20
15
10
5
0
No of Respondents
College 21
Family 39
Friends 42
Professional Websites 27
Newspapers, Magzines,
12
etc.
Professional courses have become a natural choice for students who wish to
hve bright career prospects in industry, business as well as self employment.
The commerce students tend to incline more towards these professional courses
as it is a natural progression for them. The inspiration generally comes from
family or the choices of peers. Many colleges also hold career guidance
workshops wherein an idea or introduction about the profession is provided at
an early stage so as to help students make a choice regarding the fututre course
of action. Once the interest is developed, websites of respective professions
provide detailed information regarding course details and procedures and
eligibility criteria.
131
2. Which of the following reasons were prominent in choosing a profession?
o Knowledge and awareness about the field
o Self-employment option
o Job in corporate sector
o Acquiring a substantial qualification
4.7.2 Which of the following reasons were

prominent in choosing a profession?
48 54
18 15
Knowledge and awareness about the field

Self employment option
Job in corporate sector
Acquiring a substantial professional qualification
In today’s competitive world, just a graduation degree in commerce field is not

enough to get a job or a lucrative opening. Every student wants to have an edge
over others and thus add value to the basic bachelors degree. The aforesaid
courses are relatively difficult to study for as they involve indepth study of
various aspects of business and industry. The exams are held on a pan India
level and the passing percentage too is very scarce. The hands on training
requirement also gives a realistic perspective to the prospective candidates.
Enhanced knowledge of the environment in which business operates makes one
more aware of the developments happening in the economy, business nd
industry, providing detailed knowledge. Therefore many students are in the
132
course for the additonal knowledge and perspective provided by the vast
syllabus.
Self-employment is the best option in these times and so a professional

qualification equips the students to be independent and have their own practice
in future and in turn creating jobs for others. These two are the major
motivators for choosing to pursue a professional course.
133
3. Professionally qualified people have more standing and value in a work
place
o Always o Rarely
o Sometimes o Never
4.7.3 Professionally qualified people have more

standing and value in a work place
60
50
40
30
20
10
0
No of Respondents
Always 51
Sometimes 33
Rarely 3
Never 3
Professionals are looked upon as experts. They are looked upon as the
experienced and qualified consultants who can help the top management to
make vital decisions. Their opinions are of value in the commercial space.
They enjoy a higher status thanks to their knowledge and training as thus find
more demand and subsequent acceptance.
134
4. The society looks up to professionals as ‘problem solvers’.
o Always o Rarely
o Sometimes o Never
4.7.4 The society looks up to professionals as

'problem solvers'
50
45
40
35
30
25
20
15
10
5
0
No of Respondents
Always 39
Sometimes 45
Rarely 3
Never 3
Professionals are the go-to people in case of problematic matters as they are
expected to find a way out of difficulties. In case of specific difficulties related
to company law, tax matters, cost effiency, etc. they have the ultimate say. This
is due to their specialised expertise in the relevant field. Thus society too looks
up upon them as problem solvers due to their orientation and experience. They
thus enjoy an elevated status in society as well.
135
5. In the current scenario, the professionals are an important part of the
concept of ‘less government, more governance’.
o To a large extent o To a negligible extent
o To a reasonable extent o To a small extent
4.7.5 In the current scenario, the professionals are

an important part of the concept of ' less
government, more governance'
39 45
To a large extent To a negligible extent

To a reasonable extent To a small extent
The whole concept of ‘Less Government, More Governance’, rests on the

shoulders of professionals where tax payers are allowed to self assess tax, make
declarations, where applications and compliances are filed online and the
government is involved in the exceptional cases, making it an example of
Management by Exception as propounded by Peter Drucker. The function of
certification as besowed upon the professionals makes them a partner in the
concept. It also increases the importance given to professionals, which may
increase in the time to come.
136
6. The support received from the respective institute is…
o Enough and sufficient o Could be better
o Reasonable o Needs improvement
4.7.6 The support received from the respective

institute is....
24
36
24
6
Could be better Enough and sufficient

Needs improvement Reasonable
All the students regeistered with a professional institute are under the direct
control and supervision of the same for admission, syllabus, examinations,
training/ articleship contracts and the final grant of membership. Thus, they are
the guiding organisation for various difficulties, queries relating to the above
and other issues. However, students feel that the support offered could be better
and more forthcoming. It is normally observed that support is sought more
from fellow senior students, teachers or professionals with whom they are
associated for their articles.
137
7. The existing professionals in practice and employment provide information,
guidance and motivation
o Always o Rarely
o Sometimes o Never
4.7.7 The existing professionals in practice and

employment provide information, guidance and
motivation
80
70
60
50
40
30
20
10
0
No of Respondents
Always 69
Sometimes 18
Rarely 0
Never 3
The existing professionals are the source of inspiration as well as the most
important support system during the student years. They are most enthusiastic
and pro active in providing any kind of guidance, advice and direction for the
student to realise the goal of becoming a full fledged professional. Many a
times, sincere, honest and hard working students also get partnership offers
with practicing professionals. As advertising is prohibited by the code of ethics,
many times the professionals introduce new additons in the arena of practice
and give references for acquiring assignments. Some may also forward some of
their existing work to such new entrants. Thus, from entry to establishment,
existing professionals provide the necessary encouragement at various stages.
138
8. On a scale of 1 to 5, how difficult is it to enter the profession?
o 1 o 4
o 2 o 5
o 3
4.7.8 On a scale of 1 to 5, how difficult is it to enter

the profession
9 9
33
39
1 3 4 5
The vastness of the syllabus, the rapid pace of changes in the real world which
affect the syllabus, the in depthness of knowledge, the practical aapraoch and
the competition on the all India level make entering the profession difficult.
Failure at some level prompts students to quit the course mid-way. It is
observed that only a small percentage of the students who register for
foundation level actually qualify to become a member of the Institute.
The general feedback of the students also revealed that they believed that such
courses demanded a lot of dedication and hard work in the initial stages but
once the membership is acquired, the road ahead is full of opportunities and
success.
139
As this entire study revolves around observing the environments and their
effect on the professionals, an attempt has also been made to bring the present
students and future professionals in its ambit. As mentioned before, the
conclusions of the study could help in the contributing in the academic arena
where prospective professionals could be made aware of the way in which
changing environments affect work culture and to make them better prepared
for the same. Thus a study of their perception was thought important in
giving another paradigm to the entire study.
140

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CHAPTER 4

INTERPRETATION AND FINDINGS

4.0 Miscellaneous details

 Place of employment/Practice: Mumbai/Pune/Thane/Other:______

 Specific Profession: Chartered Accountant

Cost and Management Accountant

City Total % Actual % CA CS CMA

Total 379 115 172 127 80

Mumbai 61% Pune 31% Thane 23%

An attempt was made to collect samples corresponding proportionately to the

4.0.2 Gender wise division

Gender Total % Gender

Male 68% Female 32%

Work Type Total % Work Type

The professionals are normally categorised as “practicing” or “employed”. A

Professionals in employment are the compliance and managerial personnel.

Both practicing and employed professionals have been included.

1. Do you have any specific political affiliations/perspectives?

4.1.1 Do you have any specific

Yes (21%) No (79%)

The interpretation of the question was more towards ‘registered’ affiliation,

4.1.2 Political inclination affects the work culture

0 20 40 60 80 100 120 140 160

A question directly related to the topic, we see a more defined positive

4.1.3 Differences in client's political opinion

The professionalism of individuals and the resultant deterrence to align by a

4.1.4 Dealing with co-workers is smoother if they

o To a great extent o To a small extent

o To a moderate extent o To a negligible extent

4.1.5 The political environment has impacted

To a great extent (13%) To a moderate extent (33%)

o Strongly agree o Disagree

o Agree o Strongly disagree

4.1.6 Political environment in the country has an

Therefore the political environment has an impact on the profession as a whole

o Strongly agree o Disagree

o Agree o Strongly disagree

4.1.7 A stable government at Central & State level

1. The economic environment has undergone significant changes in the last 5

o Strongly disagree o Agree

o Disagree o Strongly agree

4.2.1 The economic environment has undergone

It was found that Chartered Accountants were major stakeholders in the

o To a great extent o To a small extent

o To a moderate extent o To a negligible extent

4.2.2 The changes is in the economic environment,

To a great extent (33%) To a moderate extent (49%)

There has also been a boost to transparency and accountability norms in

o To a great extent o To a small extent

o To a moderate extent o To a negligible extent

4.2.3 New economic policies like GST and

To a great extent (65%) To a moderate extent (28%)

New policies concerning the economy place a direct onus of creating

This leads to a direct impact on the expectations the government, businesses

o Strongly disagree o Agree

o Disagree o Strongly agree

4.2.4 Economic concepts like startups, IPOs,

Startups is a relatively new concept in India. It basically means:

“The act or fact of starting something, a setting in motion, a new business

It is the starting of new commercial ventures, especially in the present scenario

As the number of startups, IPOs, events of corporate restructuring like mergers,

o Strongly disagree o Agree

o Disagree o Strongly agree