Wednesday, 14 October 2015

Is it not insulting for a CA degree to not be considered as an equivalent of a graduate degree?

An undergraduate or graduate degree in India can only be awarded by a university set up and registered with the University Grants Commission, a body that has been set up to regulate the working of universities in India.

On the other hand, the Institute of Chartered Accountants of India is not a university, but a statutory body set up by an Act of the parliament to regulate the profession of chartered accountancy in India. It offers not an undergraduate (bachelor's) or a graduate (master's) degree, but a professional certificate that gives you the statutory power to certify certain types of financial documents and certificates.

The CA certification offers you a statutory power to conduct audits of organization and certify financial documents. No such right comes with a graduate or undergraduate degree. So, there is no way in which it is insulting for the CA profession to not be considered an equivalent to graduation. It is, in fact, appreciative of the professional and specialized nature of the course.

I believe that your question is probably from the point of view of how having a CA certification would not considered in the eligibility criteria for certain jobs (government or otherwise), or for application to certain foreign courses, which require mandatory undergraduate or graduate degree for all applicants.

To answer this, I would just say that it would be unreasonable to expect a professional qualification to be exempt from all such eligibility norms for various courses or jobs. The eligibility criteria is defined by the specific organization or university, and it is up to them to decide whether they would want to grant the exemption or not. Moreover, in my humble opinion, a three-year long undergraduate program is necessary for a person's academic and personality development. A person matures and grows over those three years in many ways, and it would again be unreasonable to not give credit to an undergraduate program. The fact that a few commerce students choose to skip a bachelor's degree and enroll themselves directly in CA does not mean it's a wise idea. It is grossly underestimating of the things that a college education can teach you.

A few of the most renowned colleges for management education in India, such as IIM-Ahmedabad and the Indian School of Business (ISB) are not universities. The certifications they offer are not graduate (master's) degrees in the strict sense. The IIM's offer a Post-graduate Diploma in Management, and ISB offers a certification for having completed a Post-graduate Pogram in Management. These are not graduate degrees. However, this in no way is insulting to these institutes. They remain the most sought after and respected colleges for management education in India, and rightly so. You could say that a similar idea applies to the ICAI.

Hope this answers.

No comments:

Post a Comment

We would love to know what you have to say about this information.