The recent decision by the Institute of Chartered Accountants of India (ICAI) to form a specialised group to recommend measures aimed at ensuring a better work-life balance for Chartered Accountants (CAs), especially young professionals, has sparked much-needed discussions within the profession. This initiative, coming on the heels of the tragic demise of 26-year-old Anna Sebastian, a CA employed by the audit firm SR Batliboi, part of the EY Global network, underscores the growing urgency to address issues of workplace pressure and burnout. Anna’s unfortunate passing has thrown a spotlight on the strenuous routines and demanding environments that young CAs, especially those working in multinational networks, are subjected to.
Anna Sebastian’s death, allegedly linked to work-related stress, has reverberated throughout the CA community, raising questions about the often-overlooked mental and physical toll of the profession. While the work of a CA is known to be challenging, particularly in audit firms where deadlines are tight and client expectations high, there is a growing recognition that the system is broken when young professionals are driven to exhaustion. The fact that many of these young individuals are newly-qualified, energetic, and eager to prove their mettle only makes them more vulnerable to exploitation. In firms like SR Batliboi, and across the Big Four audit networks, employees are often expected to put in long hours, especially during the peak audit seasons.The intense workload, combined with rigid deadlines, often leads to young CAs experiencing high levels of stress and an imbalance between their professional and personal lives, says industry insiders. While many enter the profession with dreams of stability, the reality often involves a punishing work culture.
ICAI’s role
The ICAI’s move to set up a dedicated group to look into these concerns is a welcome step, but it must be viewed as just the beginning. The goal of this group, say senior CAs, should not only be to create guidelines but also to ensure that tangible steps are taken to improve working conditions across the industry. The exploitation of young CAs, whether through excessive hours, unrealistic expectations, or a toxic work environment, needs to be addressed at both regulatory and cultural levels. Firms must be made to adhere to a cap on working hours, with policies that prevent excessive overtime, especially during audit seasons. Just as labour laws protect workers in many other sectors from being overworked, similar protections need to be enforced for CAs.
Ensuring accountability
Multinational firms, such as EY, and their member firms such as Batliboi, often follow a global playbook that demands results without necessarily considering local working conditions.
In such firms, the pressure to meet international standards, achieve financial targets and maintain client satisfaction often trickles down to the youngest employees, resulting in a deeply exploitative work culture. One of the major challenges in addressing this issue is that these networks often have layers of management and internal policies that protect them from external scrutiny.
To ensure young CAs are not exploited, multinational firms must be held accountable for the well-being of their employees, said a senior CA, not willing to go on record. One way to do this is by enforcing stricter reporting mechanisms where employees can confidentially raise concerns about work pressure and exploitation. ICAI, as the regulatory body, can mandate that firms undergo regular audits to ensure compliance with work-life balance norms and implement penalties for firms that fail to meet these standards. Furthermore, multinational networks should be encouraged to adopt local work culture practices, ensuring that they do not blindly impose international workloads on their Indian employees.
While regulatory changes are crucial, a long-term solution requires a shift in the very culture of how work is perceived within the accounting profession. The idea that gruelling hours and extreme stress are the price of success needs to be dismantled. Young professionals must be taught that their mental and physical health is just as important as meeting a deadline or completing a client project.
By fostering a supportive and collaborative environment, firms can reduce the toxic competition that often leads to overworking. Senior CAs and firm partners should lead by example, encouraging a culture where work-life balance is prioritised and where taking time off is not seen as a weakness. This would ensure a conducive environment to work.