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BCAJ SURVEY ON DIGITAL GEARING OF CHARTERED ACCOUNTANT FIRMS

The BCAJ carried out a dipstick
survey in September 2020 to gauge the Digital awareness and adoption of
technology by CA firms.

 

Attributes of the
respondents:

 

A>  Location and Presence

32.5% respondents
had presence in Non-Metros and about 67.5% in both Metros and Non-Metros.

 

B>  Nature
of Respondents

45.5% respondents
were proprietors, 33.5% were firms having up to 4 partners, 11% were firms
having 5-9 partners and 10% were firms having more than 10 partners.

 

Survey Questions and Responses

 

1.  In the
present scenario, considering where the world is heading (WFH, extreme
digitisation, digital filings, client needs) and the role you perform at work,
how do you describe your personal digital skills?

 

 

 

2.  In the
role which you perform, how much time are you required to use digital skills?

 

 

3.  In terms
of awareness of where things are moving for accountants and digital
products/services available for CAs, how do you rate your DIGITAL AWARENESS?

 


 

4.  As part of
the digital journey, which of the following digital tools do you use?

     (Percentage
of participants using the tools)

 

 

5.  Considering
the present scenario, how effectively are your personnel operating under WFH in
the last several months?

 

 

6.  Keeping
the future in mind, what is the status of formal assessment of the current
state of digital maturity of your firm/practice?

 

 

 

 

 

7.  In order to gear up for the change, what
is/are you hindrance/s?
(Percentage of participants selecting each issue)

 

 

8.  Going
ahead, how important do you consider the digital skills and digital quotient in
GROWTH or even SURVIVAL of your practice?

 

 

9.  How often
do you consider upgrading digital capabilities and practices through SOFTWARE
and HARDWARE upgrades?

 

10. Going
ahead, at what capacity do you feel that your personnel can work from home?

 


BCAJ SURVEY ON IMPACT OF COVID-19 ON CHARTERED ACCOUNTANT FIRMS

The BCAJ carried out a
dipstick survey in April, 2020 to identify the challenges faced by
professionals and firms. Respondents were asked to share their perspectives,
challenges and how they are responding. 

 

Attributes of the respondents:

 

A>  Location and Presence

52% respondents had presence in
Non-Metros and about 48% in both Metros and Non-Metros.

 

B>  Nature of Respondents

48% respondents were proprietors,
37% were firms having up to 4 partners, 10% were firms having 5-9 partners and
5% were firms having more than 10 partners.

 

SURVEY QUESTIONS AND RESPONSES

 

1.  Have you made a systematic assessment of probable impact on the
firm?

 

 

2.  Time frame you have considered in the above assessment for impact
of lockdown / slowdown?

 

 

 

 

3.  Is downsizing of staff on the horizon or under consideration during
the next 6 months?

 

 

4.  Increments for FY 2020-21

 

 

5.  Bonuses for FY 19-20 to staff

 

 

 

6.  Partner and Senior Staff pay and payouts: What is the most likely
scenario?

 

 

7.  Have you considered or are already in the process of renegotiating
rent or other contracted expenses?

 

 

8.  Based on the Type of Work and Nature of Clients and assuming
lockdown and gradual lifting – do you see your firm’s cash flow:

 

 

 

9.  To manage Working Capital, you are likely to

 

 

10.   Do you expect some clients seeking fees reduction?