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March 19, 2021

University Grants Commission (UGC) India recognizes Cost Accountant Qualification equivalent to Post Graduate Degree.


• Candidates who have qualified for the Chartered Accountant (CA), Company Secretary (CS), or Cost and Works Accountant (ICWA) exams will now be treated equivalent to postgraduate degree holders, according to the University Grants Commission (UGC).

• UGC made this decision on the behest of the Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), and the Institute of Cost Accountants of India to help CA, CS, and ICWA qualification holders improve their mobility.


UGC, ICWA


New Delhi, March 19, 2021 — To increase their academic mobility, the University Grants Commission has concluded that those qualifying the Chartered Accountant (CA), Company Secretary (CS), or Cost and Works Accountant (ICWA) exams are equivalent to postgraduate degree holders.

UGC said that the Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), and the Institute of Cost Accountants of India had requested it to consider the qualifications they award (CA, CS, and ICWA) as equivalent to post-graduation degrees.

To consider this, the UGC constituted an expert committee. The commission accepted the expert committee’s recommendation and resolved that CA, CS, and ICWA qualifications be considered equivalent to PG degrees, the UGC said in its official order.

The Institute of Company Secretaries of India (ICSI) said this decision would offer more scope to its professionals worldwide. “This recognition will leverage the company secretary profession across the globe, allowing the members of the institute to pursue Ph.D. in Commerce and Allied Disciplines,” the Institute said in a release.

Nagendra D Rao, President of 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.”

Nihar N Jambusaria, President of the Institute of Chartered Accountants of India (ICAI), said that this equivalence to Post Graduate Degree would open up the International market for various job avenues for ICAI qualification holders. It would aid those seeking professional opportunities abroad.”

Biswarup Basu, President of the Institute of Cost Accountants of India, remarked that this recognition would facilitate widespread international acceptance of its Cost & Management Accounting qualification.

In their presentations to the UGC, the Chartered Accountants (CA) and the Company Secretaries (CS) bodies had argued that students who have cleared CA and CS exams have already attained a high level of education. At the same time, the Cost Accountants body had emphasized that compared to M.Com and MBA, ICWA students’ curriculum is much more elaborate.

The Institute of Cost Accountants of India, established in 1944, was set up under an Act of Parliament in 1959 by India’s Government as a statutory professional body to impart education and training in Cost and Management Accountancy. The Institute is the 2nd most significant Cost & Management Accounting body globally. It is a founder member of the International Federation of Accountants (IFAC).

Sources: UGC, Institute of Cost Accountants of India, Institute of Chartered Accountants of India, Institute of Company Secretaries of India.

|GlobalGiants.Com|

— The editor is an alumnus of the Institute of Cost Accountants of India.


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Edited & Posted by the Editor | 10:52 AM | Link to this Post






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