As a welcome move, on Monday the University Grants Commission declared that students qualifying for the Chartered Accountant (CA), Company Secretary (CS) or Cost and Works Accountant (ICWA) will be considered equivalent to PG degree holders.
The Reason Behind Making CA, CS, ICWA Equivalent To Postgraduate Degree
This move came into fruition after UGC received several requests from 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 consider conferring awarding qualification that was equivalent to PG degrees.
A committee was constituted by the UGC in order to consider and deliberate over these requests. After the recommendations of the committee were considered, the UGC reached a decision that CA, CS and ICWA qualification would be considered equivalent to PG degrees.
The decision was made upon the multiple requests made by ICAS in order to help the CA students pursue higher studies and to facilitate the mobility of the Indian students internationally.
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Expert Views on CA, CS, ICWA Equivalent To Postgraduate Degree
Backing the move, ICAI tweeted, “The University Grants Commission @ugc_india has resolved that CA Qualification will be treated equivalent to PG Degree based on requests submitted from @theicai. This will not only help CAs for pursuing higher studies but will also facilitate the mobility of Indian CAs globally”.
In a press release, ICAI CCM Dhiraj Khandelwal stated “This recognition will leverage the company secretary profession across the globe, giving the members of the institute an opportunity to pursue PhD in Commerce and Allied Disciplines,”
ICAI stated that there is a research wing that focuses on enhancing the acumen and expertise of students and encourages them to take up research in pivotal areas like corporate governance, company law, CSR, tax laws, securities laws, capital market, finance, accounting, economic and other commercial laws.
Hoping that the move will enable a large number of students to pursue PHD, CS Nagendra D Rao, president, the ICS stated “ “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.”
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