ICAI Signs Pact with Indira Gandhi National Open University

ICAI Signs Pact with Indira Gandhi National Open University

Coimbatore: The Institute of Chartered Accountants of India (ICAI) has signed a memorandun of understanding (Mou) with the Indira Gandhi National Open University (ignou) to conduct specialised courses for Chartered Accountancy students.

Jaydeep narendra Shah, Member of the central Council of the Institute of Chartered Accountants of India, told reporters here on Sunday that exemptions would be granted in different subjects to the students of the Institute.

Courses in June:

“A CA student joining graduation course under the university need to pass only in six papers out of the 21,” he said. Ignou was likely to commence the courses from this June. This was to encourage CA students who wanted to pursue their graduation, but their work timing clashed with the colleges.

The specialized B.Com courses would be in accounting and finance and M.Com courses in finance and taxation. Also, as per the MoU, an article trainee could join B.Com with ignou by paying Rs.4, 000 and could appear for the B.Com examinations after completing one year of articleship. The student would get around 70 per cent credit in various subjects and would be required to appear for six subjects.

“The degree will be granted to students who pass in six subjects, complete three years of articleship and clear Professional Competence Exam,” Mr. Shah said.

The Institute was also identifying other universities across the country and negotiating with them to introduce similar programmes, Mr. Shah said.

The Institute had also adopted the e-learning method through which 100 hours of information technology training would be made available online.

Enhancing Quality

Mr. Shah also said that the new CA course, which consisted of the Common Proficiency Test, Professional Competence Exam and CA Final had enhanced the quality of chartered accountancy education.

Though the total duration of the course had been brought down to four years and three months, the capability and competency of the students were enhanced.

Mr. Shah also pointed out that there was a gap in the demand and availability of chartered accountants in the country. The demand for chartered accountants was increasing as India’s economy was booming. “We require at least three lakh chartered accountants here,” he said.