Compulsory Articleship in ICWA
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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