"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.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.
Cheers,
Santosh Puthran
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Comments
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.
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.
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.
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.
Cheers
http://www.mca.gov.in/MinistryWebsite/dca/rolecheck/rolecheck.html
Great job done.
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.
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