With publishing a public notice (dt. 15/4/21) UGC has proclaimed that CA, the Chartered Accountant; CS, the Company Secretary; and ICWA, the Cost and Works Accountants qualifications hold postgraduate equivalence.
University Grant Commission (UGC) is a statutory body set up by the Ministry of Education. It is charged with coordinating, determining, and maintaining the standards of higher education. UGC 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 (ICWA) to consider the degrees (CA,CS, ICWA) awarded by them equivalent to a postgraduate qualification.
CA is a 5-year professional course conducted by ICAI. It equips learners with the technical knowledge to manage finance, accounting, and taxation issues. CS is a 3-year course offered by ICSI. It trains the students to handle the legal and taxation aspects of a firm. ICWA is also a 3-year course that aims to prepare cost management accountants. All these courses are pursued after the 10 + 2 level of education. All three institutions discerning the degrees must hold postgraduate coequality were making efforts in this regard.
Students pursuing CA / CS / ICWA are going to reap benefits from this accreditation.
- CA / CS / ICWA qualified candidates are now eligible to appear for UGC (NET). Who sees prospects in becoming professors.
- They can pursue PhD with any of the UGC approved universities.
- They can take up assignments as Assistant Professors / Associate Professors / Professors in universities and colleges subject to conditional eligibility.
- They are now eligible for appointment to various posts advertised by UPSC, PSUs, State Public Service Commission, PESB and other regulatory bodies.
- They are now able to apply for student visas to pursue higher education abroad.
- It shall give more weightage for calculating the points of CRS (Comprehensive Ranking System).
It will give an edge to the competent CAs / CSs / ICWAs to obtain visas and pursue further education and career. It shall facilitate the mobility of Indian CAs and others globally. This move will leverage the CA / CS / ICWA profession across the globe, allowing them to pursue PhD in Commerce and Allied Disciplines.