The CA qualification will now be considered equivalent to a master’s level degree in the UK. The Institute of Chartered Accountants of India (ICAI) has announced that UK-based national agency — the National Recognition Information Centre for the United Kingdom (UKNARIC) has referred to the ICAI CA intermediate as a graduate and ICAI CA final as a master’s level degree in the UK.
The ICAI CA intermediate and final certification will be considered at the level of QF Emirates level 7 and QF emirates level 9, respectively in the UAE, as informed by the ICAI in a release.
Prafulla P Chhajed, president ICAI, said, “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 provide opportunities for higher studies and enhanced professional opportunities for ICAI members/ semi-qualified professionals in UK, Middle East and other foreign jurisdictions accepting NARIC evaluation.”
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He further added that “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 now they know that they not only possess a professional qualification of relevance.”
India has about 3 lakh members and 7.50 lakh students associated with the ICAI. The institute is one of the few accounting bodies worldwide, which provides the entire gamut of services for the growth, development and regulation of the accountancy profession in India.