Originally posted by : Richank Garg
	Whatever the reason may be but the word "Chartered" is the life of Chartered Accountant profession. There is no doubt about that and should remain attached with ICAI.

Totally agreed......The word "Charterd" is the soul of our institute.
 

Dear all,

There is no need to make the arguments and comments.

But one thing i want to say that true proffessionalism lies in your approach and nothing else.

CA ka zamana gaya now its time to celebrate new ICAI, who says we don"t have quality, i think they don't know about CWA, CA result is around 22% and CWA result is 10%, CA's students still unemployed, Just tell me why they don't allow us to change the name, the simple reason is that they are scared.

Proud to be a Cost Accountant.

  Functions of ICWAI and ICAI are different, New syllabus of both institutes is also not same. ICAI syllabus is more focused on statutory Financial Accounting and direct tax area and ICWAI syllabus is more focused on non statutory Management Accounting and statutory Cost Accounting , Cost audit and indirect tax area.  

Also ICWAI members works hard and developed the following

1. Cost Accounting Standards which is new concept in the world, President of International Federation of Accountants has appreciated the work done by ICWAI members, he even uttered India is  leading country in the world in developing the Cost Accounting Standard
2. Developed GACAP – Generally Accepted Cost Accounting Principles it is also unique literature given to world by ICWAI members.
3. Management Accounting Guidelines – Several international management accounting firms and institutions appreciated this.
4.  Cost Auditing Standards – will introduced soon and are under process.
5. Guidance Manual for Audit Quality – Recently released and good for all Auditing professional.
6.   Research papers on Cost and Management Accounting – ICWAI members issued so many research papers on various concepts of Cost and Management Accounting.

Keeping the above wonderfully works done by the ICWAI members ,two year back government of India has taken the decision to change the name of ICWAI to ICMAI and that time minister of corporate affairs( Salman Khurshed)  confirmed that in the press conference ,accordingly Bill to change name of ICWAI was introduced in the parliament. ICAI strongly objected to that bill and put all their energy to reverse the decision of government.  Finally ICAI successfully manage the game by all their ways means.  

IF ICWAI name changed to ICMAI it will not affect the members of ICAI in any ways. They will continue to get the benefit of statutory recognition through various acts of govt. of India. But it will negatively affect the futures of ICWAI members internationally, Our rival countries Bangladesh and Pakistan have ICMAB and ICMAP, there members are enjoying benefit internationally and Indian students are suffering due to mere wrong name to qualification.

I think decision of Indian government (Under pressure of ICAI) is Pro Pakistani and Pro Bangladeshi and it is totally Anti Indian.  ICWAI have over 400,000 students and all will suffer and they will have to go to CIMA or other institutes to get the Management Accountant word with their qualification.

 All above comments of Mr. Raj Kumar Gupta is totally immature, I am surprised ICAI have members like this. He is downgrading the prestige of ICAI which they earned through hard work.

CMA Rakesh Kataria

If this thing is done - i am gonna write a letter to icai regarding

One question to all CWAs- why you demand for a name change for your institute which gave you all the recognition and existance till now??

ICWAI with that name reached upto this stage and now want to change their name. Do any of us are interested in changing our own names given by our parents? I think no. Do the CWAs think they can change their public reputation by changing their name to an international one?? What is wrong with your existing name?? is that not related to your career/profession ?? 

In Malayalam, we had a movie named 'Udayanaanu thaaram'. In that film the sarcastic hero/villian changes his name from 'Rajappan, to 'Super star Sarojkumar'  and he also tells that the name 'Rajappan' was given to him by his 'country illetrate stupid parents' and not matching to his glamour. The ICWAI is behaving in such a nature now. 'Super stars'

CWAs shall try to change their inferiority complex and open your eyes. be yourself and try to acheive the professional heights. For that stop throwing stones at ICAI, improve your coures training by giving more practical training by articleship to students.The problem is not with the names of ICAI or ICWAI. The problem is in attitude and quality. 

People will throw stones at the tree with more fruits. 

While going through debate in Rajya Sabha, it is apparent that Bills have been passed in undemocratic way. Because all the members except one or two has not spoken against CA. Otherwise every one have expressed their cautionary statement about ICAI and what they are doing as well as Members stated that Standard of auditing is at lowest ebb as well as quality have gone done. Even though the Bill has been passed, because K.Rahman Khan is himself a distinguished Chartered Accountant, and he was chairing as Dy Speaker, thus there was conflict of interest.EVEN THOUGH IT WAS PROPOSED TO CHANGE THE NAME TO ICMA.The spirit of debate has not been taken positively.ICWA SHOULD APPROACH TO THE JUDICIARY TO GET THE JUSTICE AS WELL AS expose the ULTERIOR MOTIVE OF ICAI TO INTERFERE IN THE AFFAIRS OF ICWAI INSTITUTE. Because STANDING COMMITTEE HAS mentioned in their report that due to vehement protest of CA institute, the name can not be changed.Now 40000 members and 400000 stdutents protest vehemently to remove the word and replace it by THE INSTITUTE OF BOOK KEEPERS OF INDIA or THE INSTITUTE OF PROFESSIONAL ACOUNTANT OF INDIA based on the criteria adopted in case of ICWAI.

Thanks. The moderator has deleted unnecessary arguments.

In the ICWAI bill, on the one hand they refuses to change name of the Institute to “Institute of Cost and Management Accountant of India”, on the other hand Qualification of ICWAI members will be” Cost and Management Accountant” and they will be called ACMA or FCMA.

 How  can ICWAI  give qualification of “Cost and Management Accountant “if their own name is “Institute of Cost Accountant of India”

Me too agree that CA are much professional than CMA.

CMA must have to involved in scams such as Sttayam, Global Tust Bank and many undisclose scams to show their professinalism.

Due to their PROFESSIONALISM, MCA introduced NACAS.
CA only want monopoly and afraid of compitions.

Not only all power must be given to ICAI, We must draft a ACT in which ICAI have solo power to choose Prime Minister, Prisedent, Cheif Justice of India, Cheif election Commisioner (Will be not requried, as ICAI has power to elect) Cheif Minister of all States and Governer etc.

not only this Presedent of ICAI must given power pass any ACT even without any discussion at Parliament.
Is it enough? or ICAI need more power such as power to elect US Presedent, UNO Chief etc?

Dear Mr. Raj Kumar, I am happy to be Practicing Cost Accountant, have enough work , right now Consultant of so many Indian and international companies. earning handsomely without harming our national interest.

Chartered Accountant is also noble profession but due to wrong doing of some members of ICAI the reputation of the ICAI eroded. If you read the parliamentary debate on the Chartered Accountant amendment bill most the noted parliamentary members criticized the Chartered Accountants. Why????

Cost Accountant serve for national interest for last 50 years, Price Control Mechanism of Government of India could not get success during 80s and 90s if Cost Accountants could not perform. Millions of poor Indian was saved from loots of Indian Businessman. Cost audit system in India is really great system to protect interest of poor Indians.

Chartered Accountants and Indian Business Lobby is always against the Price Control and Cost Audit system in India. Thanks to Mrs. Indira Gandhi for brave steps taken by her to saves Indians from Loots of Indian Businessman’s

See the effects of the removal of price control system in India from 1992 onwards, sharp rise in prices of essential commodities; there is no protection of consumers. Government is helpless, even noted economist is Prime minister of India but he is failed to curb the prices.

India still need Price Control Mechanism till the cast based system is removed from society as larger poor population of this country is SC, ST, OBC and minorities but most of the businessman is from upper Bania cast.

To protect all poor section of society country still need Cost Accounting services and Cost Audit system.

Also demand of the Cost Accountant to Cost and Management Accountant should be fullfilled.

My Dear CA friends,Non of the members intention is to hurt others.In the environment, where we are living , you will seldom find the fight /make argument between ICWA and ICAI.because if one have both the degrees then one would have realized that how tough is ICWAI final.The whole problem is caused by a few members of the Institute.Survival of both of the Institute is necessary.So the real spirit is tht Big brother should not be jealous of the younger brother who is getting some statute by act of parliament.It is not known about the fate of name change of ICWAI, but it is sure that many a things have come out in Public , if somebody reads the speeches of MP S in Rajya Sabha.So fair opportunity should be given to  the members of both of the Institute by the enactment of laws.In India why Public sector became efficient in terms of production because they have been thrown in to competion and the mantra was survival of the fittest.So if fair share will be given to both of the Institute, our professional faternity will be effiecient and sincere.We have a respect for ICAI but not at the cost of humilating attitude to ICWAI.God Bless ICMAI AND ICAI Both.

Mr Rakesh

just want to introduce myself mworking in one of india leading Infrastrutre CO. and If i disclose my age and earnings , this wil be injurous to your heart , Sir. I do not want  heart attack risk on you at leat at this your age like my father The quiries asked by public like me ,you and any body, "what is management Accounting ? how it should be regulated?

f ICWAI name is ICAI there is problme with ACMA or FCMA , then how Cost acounting body is accepted by public as managemnet accounting body. Just because shri lanka and pakistan and Bangalesh has done so. What about biggest econmy and adavced countries. In all these countries CWA or CMA are private body or society. In the uk , your CMA forefather ,CIMA was given chartred just in 1977, that is  for not public practice.

App ko toh dono Haat main Ladoo , chahiye Sir Ji.

WE want this matter should be reffred to CIMA and IFAC to provide produres to define costing as managemnet Acounting.

CIMA UK , which is the first managemnet accounting is itself does not want to be in public practice. They are involved in Managemnet accounting not simply as acounting cousre, but as management cousre.

Please sir , have profesional debate ,dont go into political matters and personal attac.

Mr, kataria,

This has become trend of most of CWA suffering from inferior complexity of CA or ICAI, Every time you are using hatred agaisnt CA s.

It least you have manner to have debate your junier, so that your due respect should be honured. You did not courage to do CA in your life, it is your failure , but me or some body took risk , then he become CA , it is his or her destiny . Dont  compare with any body , it will lead you falure.