Recognition of CA qualification as equivalent to PG Degree
The University Grants Commission (UGC) has resolved that CA Qualification will be treated equivalent to PG Degree based on requests submitted from ICAI institute.
This will not only help CA's for pursuing higher studies but will also facilitate the mobility of Indian CAs globally.
ICAI President's views on CA Qualification to be treated equivalent to Post Graduate Degree
Opportunities for CA professionals are increasing and these may be ceremoniously tapped, provided we accept our times and the paradigm shift in the profession as its essential feature. To be future-ready, the CA profession has been re-inventing and upgrading itself in tune with the challenges of the dynamic economy of the country as well as that of the globe. It is a compound learning process-learn, unlearn and then learn again; all professionals should integrate themselves with this process of learning.
The Institute of Chartered Accountants of India (ICAI), being one of the premier accounting bodies, has achieved global recognition over the years for maintaining the highest standards in technical, ethical areas and for sustaining stringent examination and complying with International Education Standards issued by the International Federation of Accountants (IFAC). Indian CAs are, therefore, recognized and appreciated worldwide for their knowledge, expertise, acumen and work ethics.
In a major decision, University Grant Commission (UGC) has granted the academic equivalence to Chartered Accountancy qualification with the Post Graduate degree. As a result, the Chartered Accountant members can now pursue Ph.D. in all the Indian universities as against 106 universities, 2 IITs and 7 IIMs which presently recognize the Chartered Accountancy qualification for the specific purpose of registration to Ph.D. Programme.
CA. Nihar N Jambusaria, President, ICAI said “This equivalence to Post Graduate Degree will open up International market for various job avenues for ICAI members, thereby bringing the global acclamation and recognition to India worldwide. Since Chartered Accountancy course will be considered as equivalent to the Post Graduate degree, it will aid CA members, who are aspiring to go overseas for higher studies and/or for seeking professional opportunities abroad.”
The Grant of equivalence of Chartered Accountancy course with the Post Graduate degree will make the Chartered Accountants eligible to appear in National Eligibility Test (NET) conducted by University Grants Commission. It will make the Chartered Accountants eligible for award of Junior Research Fellowship/ Assistant Professor in the Universities across India.
President, ICAI further added “Chartered Accountants equipped with comprehensive practical and technical knowledge can make a notable and significant contribution in academics in accountancy and commerce domain. This will act as a catalyst in the research work being undertaken in the sphere of accountancy and commerce and bestow a boost to the growth of business and industry and commerce across all sectors.”
The ICAI was pursuing this matter for quite some time and taking note of the same, UGC had constituted an Expert Committee last year. ICAI had submitted a 'Concept Paper elaborating the ICAI scheme of education and training & related details’ to the Committee. The UGC considered the recommendation of the Committee and resolved that Chartered Accountancy qualification be considered equivalent to Post Graduate degree.
In the past, UK NARIC (The National Recognition Information Centre for the United Kingdom) a renowned UK national agency responsible for providing information and expert opinion on qualifications and skills worldwide had also evaluated& recognised CA qualification.
Recognition of CS qualification as equivalent to PG Degree
The University Grants Commission (UGC) recognizes Company Secretary Qualification as equivalent to PG Degree based on representations submitted by ICSI. This will leverage the CS Profession across the globe. ICSI is thankful to UGC for acceding to its request.
ICSI President's views on CS Qualification to be treated equivalent to Post Graduate Degree
University Grants Commission recognizes Company Secretary Qualification as equivalent to Post Graduate Degree
The University Grants Commission has recognized Company Secretary Qualification as equivalent to Post Graduate Degree based on representations submitted by The Institute of Company Secretaries of India. This recognition will leverage the Company Secretary Profession across the globe, giving the members of the Institute an opportunity to pursue Ph.D. in Commerce and Allied Disciplines.
To keep pace with the changing dynamics of global governance framework, the Institute has carefully designed and benchmarked the Company Secretary Course content. In accordance, the profession has evolved and has gained its due recognition in different jurisdictions world over.
Besides this, ICSI also has a full-fledged academic and research wing that enhances the acumen and expertise of its members and students and encourages them to undertake research in crucial areas like Corporate Governance; Company Law; CSR; Tax Laws; Securities Laws; Capital Market; Finance; Accounting; Economic and other Commercial Laws etc.
The academia in the country has hence acknowledged the Company Secretaries in the field of teaching / training and are also inviting them as guest faculty in Universities / Colleges / Academic Institutes. Thanking the University Grants Commission, CS Nagendra D Rao, President, The ICSI said, “This recognition will open up another world of opportunities for Company Secretaries. Such recognitions reaffirm the fact that with the increasing focus on good governance, the demand for Company Secretaries, as skilled professionals, is both ubiquitous and inevitable.
Recognition of CMA qualification as equivalent to PG Degree
The Institute ICMAI is pleased to inform that the University Grants Commission, Ministry of Education, Govt. of India has announced vide letter no.D.O.No.9-35/2016 (CPP - II) dated 15th March 2021 that CMA qualification be considered equivalent to PG Degree.
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