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ICWAI vs CIMA

"The Institute of Cost and Works Accountants of India (ICWAI) is understood to have sent a letter to the AICTE (All India Council for Technical Education) complaining about the operations of the UK-based CIMA (the Chartered Institute of Management Accountants) in India. " This is a recent article in Hindu Businessline. Read more


This is like Kramer vs Kramer or Akele Hum, Akele Tum. ICWAI protecting the professional turf in India. Right thing to do. CIMA members should not be able to practise in India.



Professionals from India are spreading out across the globe and so is Indian business. Our institute has progress across the globe and endeavour that members get equal recognition and resiprocation with other accounting bodies.

Share your comments and thoughts.


Cheers,

Santosh Puthran


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Comments

Santosh Puthran said…
RV's comments in email

International turfs are open only with local association and not in unfair competition.CIMA is trying to overstep its freedom of educating .It has been taking this british hypocritic stand even in USA.WTO while globalising education has certain responsible conditions laid down.
I have attended their seminar and i know how they move closer to ICAI to the utter neglect of ICWAI and the same they did in case of America.
This body should either budge or thrown out of this country.
Santosh Puthran said…
You are very critical about CIMA which takes steps to expand globally.

CIMA will not be able to practice in India. However one of our premier bodies IIM or IIT has a tie up with CIMA. Similarly ICAEW has a tie up with Tatas to train their accountants !!!

The message is quite clear.. Indian accounting bodies have to listen to the business. Today what keeps them going is statutory assignments. They act like Doordarshan of pre 1990's. Look what has happened to DD.

Second point is CIMA is recognised around most parts of the globe. The person who is qualified as CIMA gets an entry in most of the countries. Although they are conducting exams in India, the qualification helps the individual anywhere in the world.

Even ICAI qualification is partially recognised. With this move with AICTE, they may stop CIMA exams being held in India but it will affect individuals who wants to work abroad.

ICWAI has do something for its members. Our neighbouring country accountant are much better. They have made their qualification recognised for immigration purpose in Australia.
raghu said…
ALL Said and done CIMA has to heed to shed its hypocrisy .
IIM and IIT have nothing to do with accounting nor has a private enterprise to do with ICAEW the point in matter is the support CIMA enjoys with ICAI and members of ICAI will promote any profession that will finish ICWAI.Letus call ICAEW and pit against ICAI and u will see the reaction from a president of that institute who even do not bother to confirm a press report which was abinitio wrong and continue to tout his institute is built in heaven and made of devatas.
Santosh Puthran said…
The bottom line is God helps those who help themselves. The example of Doordarshan is a classic example which was a prime broadcaster them. Now DD gets the last preference.

To stay in the race, ICWAI has to be competitive and create benchmark for other educational institutions. It has to take care of its members and vice versa.

I appreciate ICAI the way they do justice to their profession.
raghu said…
God Forbid dont bring Him into this dirty men game even Adam Played into Gods wish
Cheers
Anonymous said…
While ICWAI certainly has to do a lot to positively to position itself aggressively in the global turf certain steps are a must in the interrugnum which appear to be defensive in the short run.We need to evaluate such moves with a strategic balance and not with a knee jerk reaction. The best way may be to counsel such moves through this blog with a sage like wisdom.
Santosh Puthran said…
Kudos to ICWAI office bearers who acted promptly for the comment made on
http://www.mca.gov.in/MinistryWebsite/dca/rolecheck/rolecheck.html

Great job done.
Manoj said…
Even though India did away with the licence-permit raj more than a decade ago in almost all sectors, it seems many govt.-backed institutions are yet to come to terms with this reality and are still afraid of competition. Occupying the top slots in a list of such bodies, (I believe) will be the accounting bodies in our country. As has been pointed out, all institutes are still banking on statutory provisions for the protection of their turf. Sooner than later, whether one likes it or not, market forces are going to take over and I think it is high time the ICWAI woke up and took some proactive measures, at least to match what ICAI is doing. It shouldn't be let to become the monopoly in accounting and finance sectors.

Coming to the issue at hand, depending on AICTE to push out CIMA is an ill-thought-out measure. Putting up entry barriers will only skew the markets. Now that CFA has been barred, all of its students who can afford it will fly abroad (Nepal or Sri Lanka isn't too expensive) to take its exams. Similar will be the experience in this case too. Once ICWAI spruces up itself, there would be no need to feel threatened by any institute, domestic or global. And, in the medium to long term, that is the only solution.
Santosh Puthran said…
Hello Manoj,

You are correct. ICWAI has to be tune with times. Not only as accounting body but also the members have to be proactive.

The qualification should help the individual wherever he goes. This could only happen when there is concerted afforts to be globally knowledge, members are various sectors of business and practise, new avenues are opened up with partnership with the companies, the library and website act as a source of knowledge enhancement for members and also guide to the public.

Small things like our Institute journal should be made in colour and have thought provoking articles. And the website should be redesigned so that it brings all the Regional/Chapter websites together.

And last but not the least, Institute should look for avenues for increasing its revenue otherwise without funds, it will be reduced to exams conducting body.

Cheers,
Santosh
Test said…
CIMA has always held a very high reputation in the world. ICWAI can take steps to align with CIMA instead of fighting a legal battle. Our institute & members could immensely benefit from CIMA's reputation. Pardon me if it sounds stupid...

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