The CA qualification obtained from the Institute of Chartered Accountants of India (ICAI) will be treated as equivalent to a postgraduate degree. The University Grants Commission (UGC) has given a nod to ICAI’s proposal. ICAI had earlier sought the status of postgraduate degree for CA and graduate degree status for CA-intermediate programmes.
This would mean that CAs will be eligible to appear in National Eligibility Test (NET) conducted by University Grants Commission. It will make the Chartered Accountants eligible for a junior research fellowship and assistant professor in the Universities across India. Chartered Accountant members can now pursue PhD in all the Indian universities as against 106 universities, two IITs, and seven IIMs which presently recognize the CA qualification for the specific purpose of registration to PhD programme.
ICAI in an official statement said that “this will not only help CA’s for pursuing higher studies but will also facilitate the mobility of Indian CAs globally.”
CA. Nihar N Jambusaria, President, ICAI said “This equivalence to Post Graduate Degree will open up the international market for various job avenues for ICAI members, thereby bringing the global acclamation and recognition to India worldwide. Since Chartered Accountancy course will be considered as equivalent to the Post Graduate degree, it will aid CA members, who are aspiring to go overseas for higher studies and/or for seeking professional opportunities abroad.”
The ICAI was pursuing this matter for quite some time and taking note of the same, UGC had constituted an Expert Committee last year. ICAI had submitted a ‘Concept Paper elaborating the ICAI scheme of education and training and related details’ to the Committee. The UGC considered the recommendation of the Committee and resolved that CA qualification be considered equivalent to postgraduate degree.
In the past, UK NARIC (The National Recognition Information Centre for the United Kingdom) a renowned UK national agency responsible for providing information and expert opinion on qualifications and skills worldwide had also evaluated& recognised CA qualification.