Students who qualify 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).
“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 an official order.
“To consider this, a committee was constituted by the UGC. The commission considered recommendation of the expert committee and resolved that CA, CS and ICWA qualification be considered equivalent to PG degrees,” it added.
The decision was made at the request of the Institute of Chartered Accountants of India (ICAI) to help Cas pursue higher studies and improve their mobility.
“This will not only help Chartered Accountants for pursuing higher studies, but will also facilitate the mobility of Indian CAs globally,” the institute said.
“Based on 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 CCM Dhiraj Khandelwal.
The ICSI said the move will leverage the profession across the globe.
“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,” 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.