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Great question. Let me rephrase the question, Will Artificial Intelligence (AI)impact Chartered Accountants ?So as any other profession in the world which will be and is already getting impacted by AI , Chartered Accountants are no exceptions.Automation is one aspect of the AI spectrum.The main villain (metaphorically !) would be Machine Learning.For a brief IntroductionWhat is machine learning? - Definition from WhatIs.comThe shift to AI spectrum in the next 10 to 15 years (maybe shorter) is inevitable and is most necessary to have a tectonic shift in our profession as such.Auditing -Simple reason - “MACHINES perform repeated, systematic processes more EFFICIENT than Humans. Their error is near to Zero.”Fast analysis and meaningful interpretation of data into information is quintessential character of AI .AI will enable auditing that is a continuous and real-time process, not a prolonged exercise requiring large teams of accountants working overtime after the close of a fiscal year. (It’s Stress Buster !) Positive 1Moving towards auditing 100% of data, rather than samples of it, auditors will be empowered to study the totality of a business in an efficient mannerWith more time and detailed analysis, Good decisions are made. The risks of fraud or internal control inefficiency is thoroughly monitored. More qualitative work Indeed ! (So Positive No 2 )With huge availability of data in hand and a better opportunity to analyse the anomalies, I don’t find a reason why AI wouldn’t replace humans.To train AI to perform these tasks, we need to supply it with not only with the right data, but also the right decision-making capabilities based on that data , this is where the human part comes in.Please wait before getting Euphoric. MACHINE LEARNING comes into play. Machine learning algorithms have already taken over the Stock market. With robust learning capabilities, and with new situations, AI comes up with optimal audit process quickly with precision. Patterns will be analysed, starting from Account balances, Inventory movement and so on. SOLACE, Machine Learning is not still a cutting edge technology, it is still a WIP. But will soon hit its target.Inventory verification has become Easy- Equipping staff with tablet and smartphone applications that collect and automatically consolidate inventory count results to the group auditor in real-time. (Articled Assistants Positive )KPMG has been using innovations from McLaren Applied Technologies (MAT) in its audit processes since 2015.KPMG also have an alliance with IBM’s cognitive computer, Watson.So what ? AI cannot read agreements or interpret reading a law solely because it cannot perceive our language and documents ?Ahem….There’s a technology for it !!Natural Language Processing Technology makes it easy to input the data in the available format, be it PDF, or any document.Document review. Reading through stacks of contracts to extract key terms has traditionally been a time-consuming, manual process which will be replaced by AI. Once it identifies the block of words which are required and with machine learning it can make INTERPRETATIONS.It can read many thousands of pages of contracts or agreements and very quickly summarise those, virtually instantly, based on whatever criteria you give it on what is and isn’t interesting.So what will be the impact of HUMANS in future audit ? ( In future we will encounter this question)AI is designed by humans and definitely comes with its own flaws. It is s going to do what we tell it to do — nothing more, nothing less— and we must remain clear-eyed about the risks until Machine learning Crops up to its best.With plentiful analysis and information, Only human beings, such as the auditor, can tell the true story behind the data.The behavior of accounting figures, why it works that way and the real economic meaning and its accounting is still a part of Judgmental Spectrum which is very own Human being. (POSITIVE 3)What is it for Clients ?The most basic level, process efficiency means clients will need to devote less time and resources on responding to queries and requests for documentation, giving them back more time during a critical, deadline-driven time period.AccountingAlready the computers have taken over this field. Consider a Manufacturing concern. When the materials are received in the factory, they are tagged with serial number and the operation of human ends and that of the system begins. From there with sophisticated systems like Kanban, there’s literally no humanity involved in movement of material (in system) but only physical.(For Lifting and tagging the materials at different stages)All the entries are passed by the system when the material is shifted upwards in the production process (FROM Raw material to Finished Goods) and everything is accounted by the computer.Human work - Prepare MIS , Analyse the patterns. Literally with AI barging in, I don’t feel the need for humans. Same as Auditing - Number of people will be substantially reduced.Tax Consultancy -Decision Support System with the next level upgradation will take over this space. With astute memory better than normal Homo Sapiens, Taxation becomes a child play. Again for the input humans (Probably CA’s)are required. (i.e Analysing a case and inputting into DSS), the output is a Magic by DSS which will be corroborated by a CA.Should AI be scared?Strict No. AI will reduce the repetitive chores and provide us ample time to Human race and Finance to march forward.The humans will supervise, interact, learn, modify, relearn, research and will discover new things. Newer fields will eventually come up, Chartered Accountants will be required till the last breath of Finance or Money which literally means until human exist.What should we DO ?Update, Embrace technology and learn to live & guide AI.AI is a BOON not a BANE.Live Long and ProsperCheers !P.S- Personal ViewsReferences -Artificial intelligence comes to financial statement audits.Artificial intelligence in accountancy and finance

I don't have much idea about CGA and CAG but I have idea about CGDA.Initially you will be appointed in grade pay or level as per 7th CPC in 2 with a basic pay of 19900. After completing two years of regular service in LDC grade you will be eligible for taking SAS exam i.e. subordinate accounts service in defence accounts department. This exam is comprise 9 paper , 5 in part 1 and 4 in part 2 . Recently pattern of this exam changed from subjective nature to objective which is a good think according to me.Here is the career progression,If you clear SAS Part 1 you will be promoted to Auditor from the date when result declared in level —05 with a basic pay carrying 29200. If you clear Part 2, then you will be prompted to Assistant Accounts Officer in grade pay or level —08 , which is group B gazetted post carrying a basic pay 47600. After 4 years of regular service in AAO grade you will get non functional upgradation in scale of level 09 , starting basic pay of which is 53600. After this all your entitlement would be changed like . Traveling allowance, 2 AC on temporary duty, and many other things.Currently I'm working Auditor in defence accounts department and my AAO joined this department in LDC grade in 2011 and by the end of this year he would get level —09, non functional upgradation , which is Grade pay of 5400 as per 6th CPC.If an individual clear SAS exam in starting 5 years of service then he can go upto level of ACDA/DCDA, Assistant/Deputy Controller of Defence Accounts. Which one of the organised Group A service of Ministry of Defence (Finance).Here I'm enclosing a link of pdf which consists of exam process of SAS and paper in SAS, passing marks, eligibility etc. It will be helpful for you. If you wants further information use website of department. I.e. CGDAhttps://cgda.nic.in/SAS/AN-SAS-Restructuring-270319.pdfThaks for reading.

Lots of them that have worked and do currently work. Capitalism and Socialism alwaya work together in mixed economies but even together they only represent a small amount, perhapa 10% of the total economic activity on Earth. The other 90% is “hiding in plain sight”.Besides the thousands of other systems that history has demonstrated to be viable (Often based on slavery, religious or other belief systems) the future is always full of new possibilities especially as technology develops.But first lets look at the present and identify some alternatives which are already operating today. I’ll parse the list to the three most important.Subsistence economies which are property based but operate without money. Alrhough insignuficant in terms of GDP (which is measured in money terms!) Three quarters of the worlds farmers are basically self sufficient. In numbers they represent around 3.4 billion people, about half the total human population.Communist economies (ie true communist, ie borderless, moneyless based trust based activity based on peoduction by ability and use by need) probably accounts for a good 20% of global gdp. Like 1, Subsistence, above it is normally overlooked as it is “accounting invisible”.Personal economic self sufficiency - just think for one moment who brushes your teeth, changes your clothes - all those things you do to make yourself comfortable. Probably accounts for at least 50% of the total.All these different systems overlap 8with capitalism and socialism which themselves are interdependent. It is very difficult to quantify them which is partly why they are ignored by most economists, but there is absolutely no doubt they are real. As I said, they probably comprise 80-95% of the “real” economy.As for the Future: Objectively there is a need for an economic system which limits human demands on the ecoststem to a sustainable level. If we measure sustainability by the Ecological Footprint this implies a) some kind of built in mechanism or b) an externally imposed (“Pigouvian”) tax system.At the moment a) and b) above are politically difficult and would require huge changes to how we currently work.The current policy at global level is basically “awareness raising” or education which in theory shiuld prepare the ground for more concrete policies. Targets are being set internationally but our capacity to make really meaningful changes is being limited by our greed and constricted horizons.A possible alternative to capitalism and socialism designed to directly address the sustainabikity problem is outlined in the following paper. Comments and criticism are most welcome: Copy of SAFE money (2) (2).pdf