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Given the limited supply of CPAs in India, what do MNCs and Big 4s do?

The demand for CPA has considerably grown in recent times with the considerable growth in MNCs and Big4s in India. This shift in the trend is because of the requirement of knowledge and credibility about US GAAP, IFRS & US Compliance & Taxation by these multinational companies. Indian CA on the other hand has limited geographical recognition and does not cover the topics like IFRS & US GAAP.

This increases the demand for the CPA candidates in India. The demand has increased than the supply and that forced the MNC's and Big 4s to train their CA's as CPA's, In other words they give an extensive training on US GAAP & IFRS reporting and compliance,US Taxation to their existing employees. Now, these CAs who are trained have the knowledge but NOT the CREDIBILITY of a CPA [it's like a B.Com graduate who can do accounting as good as a CA, he's got the knowledge, but NOT the credibility of a CA]

Naturally, these MNCs and Big 4 are on the constant look-out for CPAs. Many of them even sponsor their professionals to pursue the CPA course.