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
RFQ Level 7, Master’s degree standard. The agency has also benchmarked ICAI Intermediate course and final course separately as being comparable to an 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 of
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 a 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 the export of accountancy services, the promotion of global mobility of
accountancy services in the digital world are one of the important Champion Sector initiatives 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.