The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
December 29, 2020
PRESS NOTE
Recognition of CMA Courses of the Institute of Cost Accountants of India by UK NARIC
CMA Biswarup Basu, President, The Institute of Cost Accountants of India informed that the International Affairs Committee of the Institute, with the objective of enhancing the recognition and professional opportunities for its students and members across the globe had engaged UK NARIC (National Recognition Information Centre in United Kingdom) to conduct an independent benchmarking study for evaluating the comparability of the CMA Intermediate and Final Course in the context of the UK and UAE education systems.
He further informed that UK NARIC has recently completed its benchmarking of qualifications offered by the Institute of Cost Accountants of India in the context of the UK education system and recommended that the CMA Intermediate Course is comparable to RQF Level 6, Bachelor degree standard and the CMA Final Course & Cost Accountant (CMA) designation both are considered comparable to RQF Level 7, Master’s degree standard.
CMA Vijender Sharma, Chairman International Affairs Committee of the Institute remarked “With these benchmarking results, CMA Intermediate course is considered to comparable to QFEmirates Level 7, Bachelor degree standard while the Final course & CMA qualification demonstrates comparability with QFEmirates Level 9, Master’s degree standard in context of the UAE education system.
CMA Biswarup Basu stated that this independent benchmarking of the CMA qualification would ensure widespread international acceptance of CMA qualification.”
He added, “This evaluation would strengthen the position of CMA members and help corporates gain a better understanding on the relevance and standing of the CMA qualification. It would also provide opportunities for higher studies and enhanced professional opportunities for CMA members/ semi qualified professionals in UK, Middle East Countries and other foreign jurisdictions accepting NARIC evaluation.”
About the Institute of Cost Accountants of India
The Institute of Cost Accountants of India, established in 1944, was brought under an Act of Parliament in 1959 by the Government of India, as a statutory professional body to impart education and training in the field of Cost and Management Accountancy. The Institute is the 2nd largest Cost & Management Accounting body in the world and the largest in Asia. The Institute is a founder member of the International Federation of Accountants (IFAC), the Confederation of Asian & Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA). The Institute is under the administrative control of Ministry of Corporate Affairs, Government of India.
This premiere professional body is having its headquarters at Kolkata, four Regional Councils situated in Kolkata, Delhi, Mumbai and Chennai, 110 Chapters across India and 11 Overseas Centers.
About UK NARIC (National Recognition Information Centre in United Kingdom)
UK NARIC is the designated national agency in the United Kingdom for the recognition of international qualifications and professional skills. As the National Agency, managed on behalf of the UK Government, UK NARIC is the internationally respected voice in qualification recognition offering impartial, trusted judgement on international qualifications. UK NARIC has the largest database of international qualifications in the world, with over 5,000 qualifications from more than 200 countries.
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