BCAS Vice President CA Chirag Doshi’s Message for the Month of May 2023

Importance of Professional Association

A professional association, also known as a professional organization or professional body, is a group or society that represents the interests and promotes the professional development of individuals who work in a particular field or industry. Professional associations are typically composed of members who share a common profession, occupation, or area of expertise, and they often have a formal structure, governance, and established standards or codes of conduct.

Professional associations can exist in various fields, including but not limited to chartered accountants, business, doctors, lawyers, education, engineering, technology, etc.

They may serve a wide range of purposes, such as:

• Networking and Collaboration: Professional associations provide opportunities for professionals to network, connect, and collaborate with peers who share similar interests and expertise. They often organize events, conferences, workshops, and forums where members can exchange ideas, share knowledge and best practices, and build professional relationships.
• Professional Development and Education: Professional associations offer continuing education programs, certifications, or training courses to help members enhance their knowledge, skills, and competencies. They also provide resources, publications, and research to keep members updated with the latest developments and trends in their field.
• Advocacy and Representation: Professional associations often act as advocates for their members, representing their interests and concerns to external stakeholders, such as government agencies, policymakers, or industry regulators.
• Standards and Ethics: Many professional associations establish and promote standards of professional practice and ethical guidelines for their members. These standards help ensure that members adhere to best practices, maintain professional integrity, and uphold a code of conduct in their work.
• Career Support: Professional associations may provide career support services, such as job boards, mentorship programs, or career development resources, to assist members in advancing their careers and achieving professional success.
• Community and Recognition: Professional associations can foster a sense of community among members, providing opportunities for professional recognition, awards, and honors. They may also offer platforms for members to contribute to the advancement of their profession through volunteering, leadership roles, or involvement in association activities.

We have noticed a fall in membership of various associations over the years as more and more knowledge is available online and on social media sites looking to enter the space of online networking, however, the personal touch, alumina benefits, community support, and other things are missed out.

Joining a professional association can provide numerous benefits to individuals, including opportunities for networking, learning, advocacy, career support, and professional recognition. It can also contribute to the advancement and growth of a profession or industry as a whole by promoting best practices, setting standards, and representing the interests of its members.

Few relevant International Associations:

• American Institute of Certified Public Accountants
• Association of Chartered Certified Accountants
• World Congress of Accountants
• ASEAN Federation of Accountants

Few relevant National Associations:

• Bombay Chartered Accountants Society – BCAS
• The Association of Mutual Funds in India
• Federation Of Indian Chambers Of Commerce & Industry (FICCI)
• ASSOCHAM – Associated Chambers of Commerce and Industry

Over the years professionals have benefited by being members of local associations. Considering the benefits mentioned above, all the professionals who are yet not part of any member associations should reconsider their thought and be a part of professional associations.

A man only learns in two ways, one by reading, and the other by association with smarter people. – Will Rogers

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