ACCA members are offered jobs at par with ICAI members in terms of profile and pay, in organisations such as the Big 4 and MNCs. ACCAs are in demand in the Big 4 and MNCs because these firms follow global accounting practices in their day to day work. With increasing FDI, more international firms coming to India, and even Indian firms expanding geographically, India is bound to adopt IFRS soon.
After implementation of IFRS, demand for ACCA students, affiliates and members will increase tremendously, as they have expertise in this field. Personally, I don’t recommend trying for the tax departments of companies because ACCA doesn’t have a paper variant for Indian tax. Therefore there is limited scope in tax in India with ACCA. As an ACCA, you would not have signing authority, and consequently, you would not be able to sign audit reports and practice audit by setting up your own firm. There is scope to open a practice completely based on your ACCA/IFRS qualification and sign, but only IFRS reports and not IndAS reports. Statutory Audits cannot be performed by ACCAs in companies due to the lack signing authority in India. However, you can work in the Internal Audit, Management Audit, Due Diligence Audit Departments, amongst others in these companies. There are ACCAs working in audit firms in India (including the Big 4) who can work as part of such audit teams. The partner signing the audit report must be a member of the ICAI. It is true that many employers in India are not aware of ACCA and don’t have knowledge regarding the skills and credibility of an ACCA member. But the number of employers, who are aware of the ACCA and are open to hiring the same, is growing at a quick pace. So as long as you are working hard to find your desired job, you will. Further, your opportunities to work overseas also remain open.