ICSI signs MOU with IGNOU for credit transfer

The Institute of Chartered Accountants of India (ICAI) through its academic wing, Board of Studies (Academic), joined hands with Indira Gandhi National Open University (IGNOU) in a momentous ceremony to renew the Memorandum of Understanding (MoU), which has flourished since 2007.

The event, graced by the presence of CA. Aniket Sunil Talati, President, ICAI; CA. Ranjeet Kumar Agarwal, Vice President, ICAI; CA. (Dr.) Debashis Mitra, Immediate Past President, ICAI; CA. Vishal Doshi, Chairman, Board of Studies (Academic); CA. Dayaniwas Sharma, Vice Chairman, Board of Studies (Academic), ICAI; Central Council Members and Govt. Nominees, ICAI; Prof. Nageshwar Rao, Vice-Chancellor, IGNOU; Dr. Alok Chaube, Registrar (Administration), IGNOU; Prof. M.S. Senam Raju, Director, School of Management Studies (SOMS), IGNOU, along with officials from ICAI and IGNOU. This MoU is a testament to the enduring and fruitful partnership between these two prestigious institutions.

Over the years, this partnership has made a significant impact, with more than 48,000 ICAI students successfully completing the B.Com. (Accountancy & Finance) course and more than 8,000 students completing the M.Com. (Finance and Taxation) course through IGNOU. These impressive numbers reflect the profound impact this collaboration have had on the lives and careers of countless students.

On this occasion ICAI President CA. Aniket Sunil Talati said: “Renewal of MoU with IGNOU reflects our unwavering commitment to quality commerce education in the Country. Our partnership has empowered thousands of students, and I believe our collaboration will continue to create opportunities for many more. This collaboration underscores the commitment of ICAI and IGNOU to advance education and the professional development of students. It highlights the transformative power of collaboration and innovation in the field of education.”

Both ICAI and IGNOU have recently updated their curriculum to conform to the guidelines outlined in the new National Education Policy 2020.

One of the major announcements during the ceremony is the introduction of credit transfer opportunities for ICAI students. Under this MoU, ICAI students will be eligible for credit transfer for courses they have completed through ICAI, up to 50% of the total credits of the IGNOU programme.

This initiative underscores ICAI’s commitment to evolving with the changing educational landscape and aligning with the principles of the National Education Policy (NEP) 2020. Credit transfers will be facilitated on a course-to-course basis for Foundation, Intermediate and Final level courses.

ICAI Vice-President CA. Ranjeet Kumar Agarwal said: “ICAI and IGNOU are dedicated to shape the future of education. The credit transfer initiative is just one example of our commitment to continuous adaptability in a changing educational landscape.”