The issue of the grant will support :
CA/CS/ ICWAs with 60 transfer credits
Eligibility to apply for US certifications like CPA
A heads up to global mobility
Opportunity to pursue Ph.D. in commerce and allied disciplines
March 5 2021 is a red-letter day for the students who qualify for the Chartered Accountant (CA), Company Secretary (CS), or Cost and Works Accountant (ICWA), as UGC grants the commission to consider ICAI approved certifications to be treated as equivalent to postgraduate degree.
Twitter accounts are flooded with greetings for CAs who waited decades to experience the change. As 30% of Miles CPA alumni are CAs, we congratulate this other arm of the Miles family on their new upgrade!
The announcement has opened a window of opportunities for CA/CS/ ICWAs. Further, to speak about benefits, the PG certificate will be recognized as a merit to the academics portfolio. ICSI has also announced that they are about to revise the existing course content to keep pace with the changing dynamics of the global governance framework.
From now on practicing CAs will be considered as company secretary degree holders and will get an opportunity to Ph.D. in commerce and allied disciplines. This certainly is a moment of pride for the CA/CS/ ICWAs to receive the grant, as it will facilitate new prospects in India and abroad.
US CPA has always been a certification of choice for the CAs, working at Big 4 USIs to get proficiency in IFRS & US GAAP, and the new update has a great advantage for only CAs as they are eligible for the US CPA exams.
In the total count of 120 credits, now CAs will earn 60 credit scores straight away without any hassle. Plus, US CPAs are more likely to obtain Canadian and Australian CPA designations with no additional exams, the only iteration is to transfer the accounting credits to their standards, as AICPA shares a direct MRA with Canada & Australia.
Big 4, MNCs, and CPA accounting firms have CPAs at their A-list in monitoring their finance processes. Where they are in search of quality accountants, CA & CPA will make a strong combination and an irreplaceable asset to the organization. As we are looking forward to making India the Global accounting- hub, today we have already taken a step forward in adopting new possibilities, and are looking forward to the next big change.