CA, CS, ICWA Qualifications To Be On Par With Postgraduate Degree, Says UGC

The decision was made on the behest of the Institute of Chartered Accountants of India to help CAs pursue higher studies and improve their mobility.

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With the aim to increase the mobility of people, the University Grants Commission has said those qualifying the Chartered Accountant (CA), Company Secretary (CS), or Cost and Works Accountant (ICWA) exams will be treated equivalent to postgraduate degree holders.

Why the change in qualification?

The decision has been taken after it received the request of the Institute of Chartered Accountants of India (ICAI) and others to help CAs pursue higher studies and improve their mobility.

"The UGC had received 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 the qualification being awarded by them -- CA, CS, and ICWA, equivalent to post-graduation degrees," the UGC said in official order.

 “Based on the representation made by ICAI, UGC approved CA/CS/ ICWA qualification equivalent to post-graduation degree. (PDG)...it’s a great recognition to our profession," tweeted ICAI Central Council Member Dhiraj Khandelwal.

The Institute of Company Secretaries of India (ICSI)  said it will offer more scope to professionals across the globe.

"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," it said in a release.

 “The institute 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," as per ICSI.

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.