Aim is to make available such curriculum in 44 countries, says President Gupta
The CA Institute has embarked on an initiative to make its newly launched international curriculum available in as many as 44 countries, positioning the CA qualification as a global qualification to meet the demand for accountancy professionals across the world. As part of this initiative, certain papers of the curriculum and training requirements will be customized so that students of that country can be part of their professional journey, Atul Kumar Gupta, President, Institute of Chartered Accountants of India (ICAI), told BusinessLine. Gupta highlighted that globalization, capital mobility, and increased trade and services have
resulted in the whole world virtually becoming one market.
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Through its international curriculum, the ICAI is taking a step forward to achieve the government’s objective of internationalization of higher education as enshrined in the New Education Policy 2020, he said. This was also to partner with the government’s efforts in facilitating and supporting the economic growth of developing nations by imparting professional accountancy education to students of such countries (which do not have a national professional accountancy organization of their own).
“It (international curriculum) will be the most economical course on earth as far as financial courses are concerned,” Gupta said.
Giving an example, Gupta said that students, say in Nigeria, can pursue the chartered accountancy course which will be customized to their course and training requirements. Certain subjects will be country-specific, say, for instance, curriculum focusing on Nigerian tax laws instead of the Indian income tax law. The international curriculum of ICAI is being designed in such a manner to attract students from across developing nations that are in the initial stages of economic development, and the students, in turn, will contribute to the economic growth of their countries.
The existing structure of the CA curriculum with three levels of examination will be retained in the international curriculum. Education will continue to be imparted through distance learning by providing study materials and other educational inputs. In addition, greater emphasis will be laid on e-learning modes like e-books, e-lectures, journals, and virtual coaching classes to bridge the distance learning gap. Information Technology Training (ITT) and Management and Communication Skills (MCS) will also be imparted online. The three-year concurrent practical/industrial training will be mandatory in the international curriculum as well.
Over the years, the role of a chartered accountant has been evolving continually to assume newer responsibilities in a dynamic environment. There has been a notable shift towards strategic decision-making and entrepreneurial roles that add value beyond traditional accounting and auditing. The causative factors for the change, include globalization, leading to an increase in cross border transactions and consequent business complexities, significant developments in information and technology, and financial scams underlining the need for a stringent regulatory set-up
Om Birla calls for more efforts to develop agriculture sector
NEW DELHI, Jan 7: Lok Sabha Speaker Om Birla on Thursday said efforts should be made to further develop the country’s agriculture sector as well as set up more agro-based projects. Speaking at an event organized by the Institute of Chartered Accountants of India (ICAI) here, he said having more agro-based projects would also help in reducing the migration of people from rural to urban areas. Amid the challenges due to the coronavirus pandemic, Birla said that the rural economy remained strong.
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The rural economy and the work of farmers helped in ensuring that the country’s economy did not collapse, he added.
There is a need to look at ways to further develop the country’s agriculture sector such as in the areas of farming, food processing, and value additions, Birla said. Birla, who was the Chief Guest at the ‘MSME National Conclave’, also said the MSME
the sector is providing employment opportunities to crores of people and is also an economic engine as he stressed the need to bolster the segment.