The news that the ICAI CA certificate will currently be viewed as proportional to the Graduation and Post Graduation Degree in the UK and UAE is highlighting in the headlines. UK NARIC (The National Recognition Information Center for the United Kingdom) has reported that ICAI CA Intermediate degree ought to be treated as identical to Bachelor’s Certificate and CA Final degree ought to be as Master’s level qualification in the UK.
Not only this, as per the National Qualifications Framework United Arab Emirates QFEmirates (QFE), ICAI CA Intermediate and Final certification will be considered at the level of QFEmirates Level 7 and QFEmirates Level 9, respectively in the UAE, as informed by the ICAI in a release.
The Announcement by UK NARIC
The CA qualification will now be considered equivalent to a master’s level degree in the UK. The agency has additionally benchmarked ICAI Intermediate course and final course independently as being similar to RQF Level 6, Bachelor certificate standard and RQF Level 7, Master’s qualification standard separately as per the National qualifications frameworks in the United Kingdom.
In perspective of the UAE education framework, ICAI’s Intermediate course is viewed as parallel to QFEmirates Level 7, Bachelor qualification standard while the Final course shows similarity with QFEmirates Level 9, Master’s certificate standard.
Check Out | ICAI Announcement for CA Final Students
Statements by ICAI officials on UK NARIC Benchmarking
Speaking on the UK NARIC benchmarking, following statements has been issued by ICAI Officials:
Prafulla P Chhajed, president ICAI, said, “The benchmarking of the CA capability similar to RQF Level 7, Master’s qualification standard not exclusively would reinforce the situation of ICAI individuals, yet would likewise give chances to higher examinations and upgraded proficient open doors for ICAI individuals/semi-qualified experts in UK, Middle East and other foreign jurisdictions accepting NARIC evaluation..”
He further included that this assessment would help to decide the stage of a professional qualification for ICAI individuals since they know that they not only possess a professional qualification of relevance, but it is also a qualification that is comparable to RQF Level 7, Master’s degree standard.”
Remarking on this assessment, CA Anish Mehta, Chairman of Dubai Chapter of ICAI said this is a momentous step for the acknowledgement of Indian Chartered Accountants in different nations and expressed gratitude toward the ICAI initiative for this huge success. Efforts to have the qualification recognized by UAE Government authorities will bring more pace with this milestone. ICAI Dubai has at present more than 2900 chartered accountants registered with them.
ICAI’s Vice President, CA. Atul Kumar Gupta commented that ‘as India is progressively concentrating on facilitating the export of accountancy services, the promotion of global mobility of accountancy services in the digital world is one of the significant Champion Sector initiatives of the Government of India; this evaluation would increase the professional avenues for our members.
This announcement will provide the opportunity for higher studies to members & students of ICAI in the UK and other foreign jurisdictions accepting NARIC evaluation. Guys let us know your opinions on this announcement in the comment section below.