The University Grants Commission (UGC) announced that the Chartered Accountancy (CA) qualification will now be considered equivalent to postgraduate degrees. The decision was made at the request of the Institute of Chartered Accountants of India (ICAI) to help CAs to 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 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. “This will not only help Chartered Accountants for pursuing higher studies, but will also facilitate the mobility of Indian CAs globally,” the institute said. 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.