Compulsory Articleship in ICWA

Last updated: 17 August 2007 Follow on Google News

The Institute of Cost and Works Accountants of India (ICWAI) is all set to mandate a three-year articleship against thesix- monthatpresent. ICWAI newly-elected president Chander Wadhwa told FE that the governing body has decided to go for a longer training duration to give stendents better understanding of theprofession. The step is expected to not only help students get a better hands-on experience in various concepts of cost accountancy but also lend an air of seriousnesstothecourseitself. `'We want the course to be taken up 100% by the students and not as a secondary option,'' he said. A longer articleshipwouldmeanthatstudents will not take up ICWAI as an alternate along with other courses but accord it all a fulltimestatus. Wadhwa said considering that there were very few independent practising cost accounts, the Institute was taking steps to harmonise the training/articleship programme withtheindustry.Ofthearound 41,000 cost accountants in the country,onlyabout1,700arein independent practice while the rest are employed with the corporateorthepublicsector. `'We will set up a directorate in Delhi with which companies can register themselves. Students looking for articleship cangohereandfindoutcompanies,''hesaid. Wadhwa said ICWAI was also making other changes in the syllabus to attune it to present day market realities and requirements.Thisincludedhaving more focus on areas like capital market and internationalfinance. Around19,000studentsenroll for the cost accountancy course every year, while those passing out are between 1,400 and1,500.

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