Trouble seems to be brewing between the apex accounting body of chartered accountants, the Indian Chartered Accountants Institute (ICAI) and the Institute of Costs and Works accountants of India (ICWAI). The ICAI has declared an open war against the proposal of name change of ICWAI to Institute of Costs and Management Accountants of India (ICMAI).
In a meeting called by the Parliamentary Standing Committee on finance recently, the ICAI opposed the ICWAI’s move to change the name on the grounds that the name change would create confusion among the industry people and common man.
Further, ICAI has raised the issue in its August journal as well. It says: “It is pertinent to mention that the Cost and Works Accountants (Amendment) Bill, 2010, contained a proposal regarding change of its name from the ICWAI to the ICMAI. We have expressed our concerns over the proposal for change of name of ICWAI to ICMAI. We are following up on the matter”.
Indian Express
My personal view is our society is especially parents of commerce students are giving more importance to CA than to any other qualifications which is because CA can earn money in both legal and illegal ways.
our society needs to remove this spaces from the eyes and look for other profession also, than only this is so called CA’s (truly corrupt accountants) will come down to earth.
Agreed with Arif, but to bring the student for this course GOI needs to give support by setting certain standards like costing / management accounting standards and compulsory cost / management accounting audit by CMA as they have set for CAs, unless this is made compulsory the recognitions by Companies to CMA is very hard to archive. Also GOI should bring in their set ups at par with CA which will help CMA’s to grow high.
@ Vijaya
whatever little bit development institute has, it is with in last 2-3 years. before that period, it was run by a bunch of senior citizen, who have lived their life and only praying for MOSH.
now institute has waken from its sleep of 50 years, so we all must provide water to it, so that it wash face and face the challenge with full energy.
I should also add that ICWAI has done nothing either in this country or abroad for helping its members.
No wonder so many of their students do not pay membership fees anymore. There is nothing to gain.
Changing name is like renaming roads instead of making new roads. If ICWAI wants acceptability, they have to build their brand. Just changing their name wont increase their membership.
ICAI qualification is not considered on par with those from the GAA (Global Accounting Alliance)countries.
Only Ireland, UK, Hong Kong, USA, Canada, Scotland, Australia and South Africa are members of the GAA.
As a result, CAs from IndiaCAs who migrate abroad have to do the exams once again in that country to be considered as chartered accountants. This is really difficult for them as they have to balance a new low paid job in a foreign country and also study to take these exams while also taking care of family. It really puts them on a back foot. What has the ICAI done so far to achieve global recognition?
All this talk of high standards is only within India. No one abroad thinks your standards and knowledge are high enough. ICAI should introspect first and fix this problem to help their own members.
Anand (Mammu)
You were talking about statndard of CA qualification, apart from fraud at large scale & micro level, examination system of ICAI has become a farse , One of my friend appeared in CA final exam in last term, as per her assessment in the paper where she permormed best (in her life time),she scrored only 32 however in the paper where she did worst , she got 65.
I completely agree with what Chandra has said. GOI should re-think on the presence of CA’s in India. As they are horses running in the race with eyes’ focusing only on one side, they think they are GOD of accountancy or taxation of Company Law, in fact many of CA passed are even not able to pass accounting entries and if you ask the rules presently applicable for filing a return also not known to them. They only want to get the money based on the so called CA qualification tagged with them.
GOI should allow CMA’s and CS’s also to conduct the audit.
It is proven in lot’s of cases that Company’s frauds are kept well below the carpet by this CA’s only, else India would not have seen Satyam or Global Trust scams.
There should not be monopoly of one professional in any field it should be competitive.
GOI should restrict the fees charged by them and also the Audi Firm’s must be rotate in two year this will control frauds like satyam rather having one firm doing Audit of Companies (Both Internal & Statutory) for generations changing and still going on as many big firms keep their brother of relative’s firm as Internal or they will do Statutory.
hi dear,
this is truly unfair that icai oposse the new name of icwai. its shows lack of confidence in mind of icai, they fell that with this changes ” icawai in BOOM”
Before going to decide on suitability of Chartered Accountants (CAs) and Cost Accountants ( ICWAs) for a particular statutory authority ( Salutatory Financial Audit or Cost Audit or Tax audit or Sec 14a and 14AA or any thing) there are certain points to be considered. Both the institutions are claiming , that their institute is more suitable than other. The points are..
1.SYLLABUS CONTENTS OF CA AND ICWA COURSES AND FOCUS : Right from the beginning Institute of Chartered Accountants of India (ICAI) is focusing only on Accounts, Taxation and it does not have strong focus on the internal industry or company management practices .On the other side , ICWAI , included Cost Management Accountancy , Operations Management for strong focus on the internal industry or company management practices . The ICWAI has strong focus on the above subjects and also has very strong focus on Accounts and Taxation. ICWAI has focus on Cost and Management Accountancy , the strong structure of Cost and Management Accountancy is obviously based on the strong foundations of accounts and Taxation.. International Institutes specialized in Management Accountancy have MOUs with ICWAI. So, ICWAI is the sole authority for Management Accountancy . And obviously it states ICWAI is equally strong like CA on Accountancy, Taxation and Audit ( even more strong and advanced than ICAI , because Management Accountancy is based on strong foundations of Accountancy, Taxation)—A person can become a good Judge (like Cost Management Accountancy) only if he is good at law (like Accountancy, Taxation and Audit) .
2.THE FINANCIAL MANAGEMENT PART : Initially in the syllabus of ICAI financial management was not a part. Later for a long time CA did not have Financial Management in its syllabus. This indicates members of ICAI and ICAI are not serious about Fin Mgt. Then how they are eligilible for the posts like VP-Finance, Director-Finance, CFO etc and finance posts?. One more point is “Institute of Chartered Accountants of India (ICAI) does not have strong focus on the internal industry or company management practices”
3.THE RATIONALE BEHIND ASSOCIATE MEMBERSHIP : To become Associate member of ICAI, passing of Final exam of CA is sufficient satisfying article ship .The three years period of article is considered as three years of experience and Associate ship is given in ICAI. But , if you consider ICWAI the associate membership will be given if the candidate passes Final course of ICWAI and possesses three years of responsible experience. Definitely becoming Associate of ICWAI is difficult and worthy compared to three years of articles experience. If we compare the required three years of experience for Associate Membership in ICAI and ICWAI (a) In case of Articles of ICAI specific responsibility is not fixed on person (student) , but in case of ICWAI ( the candidate is mostly employee) the three years of experience is in a job where job responsibility is fixed. (b) most of the times, in ICWAI the person works and deals in the system of an industry where management practices and finance functional are present. (c ) The article ship experience is an experience gained as a student , i.e. . Normally understanding or working with half or zero knowledge. In case of ICWAI the three years of experience is with in job responsibility . If it is experience as semi qualified of fully qualified , then it is the experience gained with sound subject understanding. So in case of ICWA , the knowledge gained is more worthy and sound. The depth and scope of learning is more before becoming Associate Member in ICWAI compared to CA.
SO, ICAI SHOULD RE-THINK ABOUT ITS ARTICLES AND PROCEDURE OF ASSOCIATE MEMBERSHIP . IT SHOULD EITHER AVOID ARTICLES OR SHOULD FOLLOW THE PRACTICES OF ICWAI FOR ASSOCIATE MEMBERSHIP.
4.IGNORING INDUSTRIAL, MANAGEMENT PRACTICES, AND AUDIT : CAs don’t know really much about management practices of Finance ( because only ICWAIs are management accountants , ICWAIs are fully aware of Accounts and Management) , then how CAs are eligible for audit? Even during Articleship also mostly they work under Auditor , not in industry , that also without having attachment to responsibility. A person without Management practices or Industrial Practices is not eligible for audit of organsations. A person can become a good Judge (like Cost Management Accountant) only if he is good at law (like Accountancy, Taxation and Audit) .
5.THE DYNAMICS OF SYLLABUS CHANGE : ICAI is not active in updating in syllabus and passive in equip its students and members to the changing dynamics. Because of the statutory protections that ICAI has , ICAI is mild and passive in changing syllabus. The same can be understood by observing its syllabus changes right from its inception. Financial Management is introduced lately, the dynamic Management Accountancy has no much role .Even now also ICAI is trying for Special Audit under Sec 14A , 14AA just by showing that Indirect Tax is a part of CA curriculum ( without Cost Audit and Management Audit, why such a delayed realization ? Weren’t they aware of the same from several years? ). If having a subject is sufficient for Special Audit, then ICWAI can claim “we are best fit for the posts like Production Manager, COO, because Production and Operations Management is part of ICWAI curriculum”. Without any basic idea on Production and Operations Management , how ICAI can claim for 14AA.
Because of the failure and inability of ICAI in dealing with Finance and Management practices only ICWAI came into existence. Otherwise ICWAI would not have come into picture. Now after several decades , ICAI is claiming “we have expertise of ICWAIs also”. This is like claiming of Type Machine that “I am more suitable than computer in data management”.
One thing is to be remembered “Quality means fitness through knowledge not through ignorance” (see 8.Ignornce and Super ignorance : )
6.THE HARD WORK BEHIND PASS : Persons doing both CA,CWA simultaneously are facing difficulty in passing ICWA than CA. Persons who registered for both CA and ICWA simultaneously are completing CA earlier than ICWA. Number of CAs1,50,000 & ICWAs 40,000. CA syllabus less than ICWA , ICWA syllabus is more. Pass percentage of CA is more.
7.COMARISION WITHOUT STATUTORY PROTECTIONS AND SOUNDNESS: The Institute of Cost and Works Accountants of India is the only Institute in India that has in its syllabus and training contents the proper blend of cost, management accounting, finance and non-finance subjects required for professional management accounting functions. Needless to mention that in the Finance and Management Accounting Committee of the International Federation of Accountants – earlier known as FMAC and now known as Professional Accountant in Business Committee – ICWAI was represented since its inception and not ICAI. ICWAI syllabus covers in-depth company accounts. It is time them to conduct company audits also like CA. How is the idea to open Income Tax Audit to CWA and also remove CAs from VAT Audit as it is indirect tax feild?ICWAI academic filtration is for more superior and tough than simple CA,world wide management accountant has better acceptance than ordinary/simple CA. International bodies recognized ICWA and as qualification equal to their international standard course and allowed ICWAIs to practice in their countries.
And those international bodies gave mutual recognition between their course and ICWA.
But, CA is not given such recognition by international institutions , and ICAI is struggling to get such recognition.
8.IGNORNCE AND SUPER IGNORANCE : Without knowing the above facts , ignorantly some people feel CA is difficult and they have good knowledge than ICWA. They are ignorant people. There is another category , this is SUPER Ignorant people . These people take opinion of these ignorant people and say CA is difficult . The third category people , they argue CA is ultimate in Finance and Accounts and all statutory powers should be given to CAs . These people show the sample of ignorant and super ignorant peoples’ opinion to prove their argument.
9.IS THE RESISTANCE FROM ICAI FOR NAME CHANGE PART OF SELF DEFENSE? : Cost accountants are also called Management Accountants all over the world in UK , US, Canada and even in Pakistan and Bangladesh also. Why that recognition is not given by Indian Govt? Even for name change also govt is not ready. Is this to standardize the argument in point 8?
Why ICWAIs should not be defined under Section 288(2) of the Income Tax Act?
We are experiencing the frauds of audit by CAs ( recently Satyam).
Why CA has more recognition than ICWA in spite of
• Easiness
• Less syllabus
• Less focus on management and financial management practices compared to ICWA
• With less dynamism in syllabus change/ up gradation compared to ICWA
• Easier way of becoming associate member compared to ICWA
AND..
The Accounting Institutes should focus more on improving standards of their education and courses instead of trying to propagate lies about other institutes.
Normally people who are not capable to improve their standards try to interfere into others matters. Their policy is “we will not improve ourself , instead , we will try to lessen others by spreading lies , by doing this we can be on the top… survival by blaming”.
Unfortunately , I heard from some professionals saying “ICWAIs are not fit for higher positions in finance , they know only costing , but nothing about accounts and taxation.. ICWAI is very very easy”. If an illeletarate speaks like this , then it is OK. But how a qualified person is so ignorant about ICWAI?. Didn’t his education give that much of minimum knowledge to have an idea about other professions? They should not be like frog in the well. Is it his ignorance OR lack of proper literacy ( lesser standard of education) OR arrogancy that makes him an unfit manager?
We would have not seen satyam like frauds , if professionals try for fairness and quality.
If the name change will be good for ICWAI then name should change, the amended ICWAI Act is to be passed by the Hon parliament of our country
not by ICAI ,ICAI is only an institute Like ICWAI both institutes are equel
Name change is not a big thing…many countries name changes are happening
I think ICAI need not worry about this change as no loss is going to happen to its dignity/value. But trying to make it a issue, may degrade its values in the eyes of common public.
Cost accountants, can not be compared with chartered accountants.Their standard no where comparable with ICAI.A CA can perform the role of all i.e ICWAI, ICSI. But the others can not do so. Then how they can claim them as management accountants.ICAI is unique body no others should resemble its name.
Institute of Cunning Accountants of india/Institute of Culprit accountants of india are not now in quality… They are thinking that they rule the government. Many people are getting false figures by beleiving you in share market. You are the culprit do all tax evation against goverment. CMAs are doing a real Tax/cost management. Unfortunately, ICAI stated in 1949.ICWAI in 1959. They begged the word “Chartered” from Britain. ICWA/CS are at par in qualification but CWAs are not legally recognised as compared to CAs and CSs. If SEBI / Govt wants complete transparency over affairs of company. First break the monopoly of CAs and let us allow CWAs and CSs. Please do not play with students life.. It is more tough to qualify CWA and CS at par with CAs. CA question pater out before exam before few years.. Many CAs are taking classes in chennai mumbai for money, They are just making out the question papers to those who joined with them. Think about others… Be proud to be an ICWAI member. We do not have money like ICAI. because We never involve in corruption and fraud…
everybody must check fllowing two links. it is same subject , name change. please see comment on it.
https://www.taxguru.in/icwai/afresh-attempt-of-icwai-to-rename-its-organisation-to-icmai-fumes-icai.html/comment-page-1#comment-80227
https://www.taxguru.in/icai/icai-presidents-message-august-2010.html/comment-page-1#comment-88401
@ Anand & rakesh kapoor
no doubts that ICAI has professionalism and integrity. we all saw it when Satyam, Global Trust Bank, Booth capture, happened. integrity was shown in Satyam and Global Trust Bank and professionalism was in Booth Capturing during ICAI election.
thanks god ICWAI has not such integrity and professionalism and i am sure even it don’t want such GOOD things.
Dear Professional People’s in the bracket of CA-Profession.
All these comments noted against the name change of ICWAI to ICMAI is a clear cut fear/threat to the monopolistic startegy existing to them (CA’s). Competency in every professional would come out NOW. In my view all professional Members (CA , ICWA, CS) should work together to build a World class economy and a Strong Nation.
The name change of ICWAI to ICMAI will not have any impact on ICAI.
And I am sure ICWAI will change its name soon.
There is no need to fight stake holders of these institutes on this matter
There could be no loss of bread and butter for ICAI due to the name change or The ICWAI is not changing the name due to lack of conidence.
The ICWAI want to change the name in accordance with the global standards
There is no doubt in it that since long Central & Regional Council of ICWAI are having any member with CA qualification, ICWAI cannot progress as each and every initiative of the Institute will get diluted.
Why should ICAI have any problem in the proposal of name change of ICWAI to Institute of Costs and Management Accountants of India (ICMAI)? Are they feeling insecure?
If they think the are best then it should not matter to them. Even after the change of name the quality will remain the same.
Anand(mamuu) has no knowledge about that many Cost Accountant’s having the postion of the Finance Head like IFFCO, ICICI, MOSER BAER, ONGC etc
I really dont understand what is this all about. If ICWAI decides to invert its ‘W’ to ‘M’, how does it affect another institute. If thats the case, why were they quiet all the while. Common man understands who a CA is well. If the concern is management of a corporate, i dont think name change as anything to do with that. The institute will be well advised to work on the curriculum and ensure that the same meets the requirement of corporates rather than getting into tussle on issues. These are professional bodies that are supposed to set standards for behavior. I hope sense prevails at the institutes and each one carries on the high quality service that they are known for across the globe.
i strongly condemn & oppose ICAI. it is not having any power of interfering into other institute’s issues. Should not & can not act as a BIG BROTHER.
It is highly improper on the part of ICAI to oppose the name change by ICWAI, due to their sheer fear of losing business, the latter Institute is equally important and covers all areas which are covered by the former. ICAI otherwise, is unjustifiably purposely keeping out very very good students from passing exam of the Institute by making the syllabus unnecessarily covering a vast area of subjects under the sky and keeping the result awefully low giving the impression that this is a super Institute higher than any IIM and IITs.The Govt.should put their foot and show the Institute correct position.
HI dear’s
i accept this kind of healthy comments, but one thing’s very clear, we should know professionalism & ethical things in our life.
CA’s members & Friends, pls dno’t critise other’s.
They are also professional, it’s universal truth no can object that.
CA Memebers & students are also duing CWA & CS, i don’t know, why they want to be other profession’s. as per your comments, CA are brillant’s, highly Callibrated person’s then why?????
your standards are well,we accept, then how came sathyam scam friend’s.
Accpet healthy competation, pls change your thoughts.
Don’t encourage this kind criticism.
This is democratic country, They may react like this na, than where u can hide ur faces.
Pls follow sprit & ethics in our profession.
We must consentrate our standards & regulations, We are in emergening economy.
First of all we should eliminate corruption & tax evasion in our country.
pls co ordinate & ensure intergrity in our field.
Proud to be indian, save our next generation.
“Corruption free nation.”
The above author who has posted their own Comments, you should not fight with each other related to this,,and make any difference between that “I am CA/ICWA student or Member then the opposite Institute is lower/Inferrior…its the human being who is Superior or Inferior not the particular Institue…You should keep you Professionalism,,,,Thanx
I m agree with all the above comments favouring ICWAI ( ICMAI-proposed)..In India every person is free and independant to do any thing which is legal..though ICWAI is also a artificial person and has the same rights as the other have…So in my opinion, ICAI disagreement for change in the name of ICWAI to ICMAI is totally vague…We should be in Favour of over all obeject of Accountancy quality in India and outside the India..If by changing name of ICWAI to ICMAI it can be achived then it must go on…
In personal view, i think there should not any negative impact of change in name of ICWAI to ICMAI. The name and integrity of ICAI would remain untouched even after change in name of ICWAI….
The ICAI has to first look in their own house rather interfering in the growth of other profession. They themselves do not have competency and so called professionalism, otherwise they would not have bought the foreign “BRANDS” in India in their professional setups. The members and management of ICAI is only looking for minting the money and o not want other profession to even survive. If they are so professional and integrated, the branding they have started in their own profession should be stopped first. The real management of the ICAI is not being done by Indian but are being remote controlled by the so called BRANDS in CA profession. These things are not done by others. Also if they are so professional and has integrity for Country why they should charge in crores and put their hands in the gloves of the management of the Companies, if this would have done the Satyam Case would not have emerged. I personally think GOI should stop collaborating the professional bodies with foreign counterparts as they will bring only unethical ways and concentration in earnings, than looking for the actual work for which they have been formed. It seems India is once again going in the era of British Rule with such attitude.
I think we should’nt much bother about this and fight amoung ourselves. We have much better and fruitful jobs to do in our respective profession and a long way to go. When two political party is fighting… what will we do?? Just laugh on them and carry with our work even though we belong to either of the party… Our quality and importance will not going to get down who ever wins this open war either CA or present CWA.
Lets talk about some fruitful things…..
WHAT INTEGRITY ICAI IS HAVING.. BOOTH CAPTURING, QUESTION LEAKAGE, RESULT POSTPOND, QUESTIONS FROM 0UT OF SYLLABUS, CHARGING VERY HIGH FEE FROM STUDENTS, KILLING THE STUDENT IN THE NAME OF STANDARS,…..
@Anand
Your standard of education is doubtful. Your posting shows that CA standard is far below than ICWAI(ICMAI)education standard.
ICAI always adopts double standards with respect to the other sister institutes ICWAI & ICSI. Oposing name changae is to curb competition and to have monopoly in the Accounting profession in India.
The name change permanently resolves the confusion ICAI created amoung people , industry and common man about the ICWAI
profession.
world wide cost Accountant are called “Cost and management Accounts”
I also wish to reproduce below the message of the ICAI President of india “March journal”
“ strengthening Bonds : We don’t exist in a vacuum. Along with us exist other sister institutes and regulatory bodies. While our focus is our Alma Mater, we should remember that our sister institutes and other regulatory bodies are also an important aspect of our professional and institutional life. Strengthening the existing bonds while also creating new ones will go a long way in uniting the Institutions together and serving the cause of the nation. The onus lies on us to take the initiative and take the first step towards forming better ties with our sister institutes …….”
1.Oposing the name change of institute – Is this the first step
for strengething bonds ?
2. Whether ICAI thinks that they are regulator of accounting profession in India?
ICAI should think of giving better service to the nation and common man and industry along with other sister institutes .
ICAI is the best and foremost institute in the Accounts fields. They should not afraid of ICWAI Institute. CA institute should have habitof developing other financial bodies like ICWAI. Satyam case is the example of how CA’s not following rules and regulation. Cost accountant are helping the management to reduce the cost to achieve the objectives and the growth of the company. CA’s are only verifying the growth of the management. Thus CA’s should not fight with ICWAI institute regarding change in name. They are just changing the name CA’s try to understand that.
ICWAI CAN Never be compared with ICAI COZ THE STANDARDS AND THE SUBJECT OF CA IS FAR REACHING TO ICWAI.CWA’S ARE NOT ELIGIBLE TO CALLED THEM AS MANAGEMENT EXPERTS AS THEY DON’T HAVE THAT MUCH OF KNOWLEDGE. HENCE IT IS UNETHICAL TO CHANGE THEIR NAME AS ICMAI
Right from the inception of the ICWAI, the ICAI is opposing the existence and scope of the members of ICWAI. This is in line with their thinking of competition.
Scope of Cost Accountant in Excise shared by CA but Cost Accountant are not included in IT Audit. Because of ICAI” suchvmoves scope of Cost Accounting practice has become limited.
Parliamentarians and Government will definitely rise to occassion and will stand on the side of equity and justice to Cost Accountant.
It is not good on the part of ICAI to raise these kind of narrow minded objections .Who is ICAI to interrupt in this type of activities . Whether GOI has to be afraid of ICAI ? Let ICWAI have natural justice .
ICWAI has clarified in several occassions for the necessity of change in the name. MCA to intervene and to take their own stand for the long pending issue. Big brother approach of ICAI is not a healty one for the accounting industry.
The name change by ICWAI will bring up-boost to dignity and independence to both profession. ICAI and ICWAI have their definite role and duties to play, change of name does not bring any set back to other profession. Change of name from ICWAI to ICMAI only seeks imparting of meaningful role of Cost Accountants in the days to come to the world at large.
I do agree with Vijay & Dilip, simple and plain is why ICAI should interfere in ICWAI matters. Is is not true that ICWAI’s are Management Accountants, other parts of the world have changed their name too.
Is the ICAI act any where called as a ” professional Act”…I really doubt…if any one has doubt then go and check the real meaning of the word “professionalism” in any dictonanary & then utter any word over professionalism attitude.
world over two lines of accountancy bodies exists be it US, UK, Austrailia, or SAARC countries but still ICAI institute has intalling & expressing concern that The word “management accountant” will cause confusion …what will then ICAI say to the world over management accountant institute to “scarp their bodies” since ICAI doesn’t want any to see any “other managment accountant” institute…..i really really laugh on the understanding level of the so Called High callebered ICAI members who fails to understand & accept the raw reality.
If ICAI institute is having so much of professionalism & have high integrity than why they itself is loosing it’s own confidence & faith over the name Change of ICWAI to ICMAI, world over CWA profession has changed to “management accountancy profession” & it is very well accepted fact through out the world. The kind of negative campaign adopted by ICAI institute towards ICWAI institute shows the lack of professionalism as well as their loosening faith over their own confidence where they have blind folded their eyes in accepting the reality of ICWAI institute. It’s a shame to the total ICAI fraternity.
They often has emerged as a road blocking bolder against the growth path of ICWAI profession & once again they have shown their erroneous attitude towards ICWAI.
Every profession has it’s own uniqueness & we all respect that & a true professional always respect the other professionals, then why such callous approach by ICAI towards ICWAI. Really unethical & act.
ICAI is a statutory and well recognized body all over the world. Many countries want to make collaboration with it. If anyone affects its presence, it wont tolerate it. And if ICAI involve itself in to the matter then there is something which everyone do not know. So Its my advice to people to dont jump over the conclusions until known the whole story.Just wait and watch.
@Rakesh Kapoor
by opposing name change of ICWAI, ICAI president shows his lack of confidence. it is proved and no need to give explanation. MCA should take action against ICAI President for insubordination and misconduct.because, ICAI president had taken oath in standing commitee not to publish anything about discusion at meeting. but he has break his oath.
From your comments it appears that you are from CA Community however your claim of so called professionaliism does not reflected from your comments. Mind on your own business it is not your look out to judge actions / stratagy of other institute . Does it have any bearing on you?? , not supposed to! but your unprofessional comments shows you people are scared of name change of ICWAI to ICMAI. We will surely materialise the name change.
sir
there is no need for ICAI to
agitate for this . There was a
time when they dragged ICFA TO
Court reg resemblance of name.
Objection was over ruled and was
in favour of ICFA
CA RATNAM MURALI
One simple Question, Will ICAI accept any interference done by ICWAI in there matter?
It is unfair on the part of ICAI to continue their dominance in all areas, including the change of the name of the ICWAI.
According to me, the change proposed by ICWAI to ICMAI does not give any negative impact to ICAI. In fact, the Cost Accountants are to be called real Management Accountants.
Hence in this matter, I personally feel, it is better on the part of ICAI not to interfere in the internal matters of other Institutes.
ICAI is a body which maintains high level of integrity and professionalism. It has no reason to fear anyone. The name change shows the lack of confidence by ICWAI
MCA has evaluated the need for change in name of ICWAI to ICMAI considering the nature of activities carried on by the members of ICWAI and has moved further for the ammendment.
We hope the name change from ICWAI to ICMAI will be a reality soon.
The simple truth is that ICAI fears about loosing some bread and butter and also a setback to its monopoly so far enjoyed on the strength of borrowed name and manipulative lobbying. However in the case of ICWAI, it is not the question of bread and butter, as there will be no change or gain in financial terms to members but will only give a name by which they are called all over the globe.Their is no war cry and ICWAI should refrain from getting provoked. In times to come ICAI will have to accept the competency of the other bodies. If they still want to go ahead. Allow them to do so. They may have the money but Cost Accountants have the moral.