The Institute of Chartered Accountants of India (ICAI) on Monday 15th March 2021 informed that the UGC has resolved that CA qualification will be treated equivalent to PG degree.
What does that mean? Will I get another degree from ICAI?
If you are looking for the answer to the above questions then read on! This article is for you!
Q1 – What has changed?
The University Grants Commission (UGC) on Monday announced that students who qualify for the Chartered Accountant (CA), Company Secretary (CS), or Cost and Works Accountant (ICWA) exams will be treated equivalent to postgraduate degree holders.
Some of the universities like IIM Ahmedabad, IIT Mumbai, State Universities of Mumbai, Gujarat, Pune, etc. recognized CA qualification for pursuing Ph.D. However, for every other purpose, CA qualification was not even considered as a graduate degree leave alone being considered as a post-graduation degree.
If you remember filling forms having options like – graduate, post-graduate, professional qualification, etc – CA would generally fall in professional qualification and not under post-graduate or graduate.
With the UGC announcement, CA would be treated as equivalent to a post-graduate degree.
Q2 – Will I get another degree from ICAI?
No, you are not going to receive any additional degree from ICAI. Your current qualification of CA would be treated at par with post-graduation.
Q3 – What impact this change has on me?
For Members intending to pursue any other course – If any member intends to pursue any course in India or abroad where the minimum qualification requirement is post-graduation, then this is very good news for you. CA qualification would now be accepted as a post-graduation degree.
For young members in the job – Many companies have a minimum requirement of graduation or post-graduation. CA was not considered even graduation. I am aware of some young CAs not able to get a job because they could not do their BCom. Again, good news for you – CA would be considered as a post-graduation degree.
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