The Institute of Chartered Accountants of India (ICAI) has always strived for academic and professional excellence for its key stakeholders, i.e., students and members. With the aim of expanding the opportunities for Professionals in foreign jurisdictions, the Institute had engaged 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, to conduct an independent benchmarking study, evaluating the comparability of the ICAI Intermediate and Final level in the context of the UK education systems.
Pursuant to the same, UK NARIC has announced that ICAI qualification is comparable to RQF Level 7, Master’s degree standard. The agency has also benchmarked ICAI Intermediate course and final course separately as being comparable to a RQF Level 6, Bachelor degree standard and RQF Level 7, Master’s degree standard respectively.
Speaking on the UK NARIC benchmarking, President ICAI, CA. Prafulla P. Chhajed remarked that the benchmarking of the CA qualification comparable to RQF Level 7, Master’s degree standard not only would strengthen the position of ICAI members, but would also help aspiring Chartered Accountants and even corporates gain a better understanding on the standing and relevance of the CA qualification.”
He added, “ICAI members abroad are facing difficulty in settling abroad. This evaluation would help them in deciding the stage of a professional qualification for ICAI members because they now know that they not only possess a professional qualification of relevance, but it is also qualification that is comparable to RQF Level 7, Master’s degree standard.”
ICAI’s Vice President, CA. Atul Kumar Gupta, remarked,“As India is increasingly focusing on facilitating export of accountancy services, the promotion of global mobility of accountancy services in digital world is one of the important Champion Sector initiative of the Government of India; this evaluation would increase the professional avenues for our members by facilitating recognition of Indian accountancy qualification”.
ICAI Kuwait Chapter Chairman CA Sai Devata applauded the efforts of ICAI President and Vice President for this remarkable recognition which will enhance the footprint of ICAI globally. ICAI Kuwait chapter is working closely to sign MOU with Kuwait Accounting and Auditing Association (KAAA) which will mutually benefit both the associations and exchange the training, subject related in the areas of accounting and finance domain.
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