ICAI, IGNOU introduce credit transfer, renew agreement for collaborative learning process

In a major announcement, the institutes introduced credit transfer opportunities for ICAI students. Both ICAI and IGNOU have recently updated their curriculum in line with the National Education Policy 2020 guidelines.

The Institute of Chartered Accountants of India (ICAI) and Indira Gandhi National Open University (IGNOU) renewed their agreement to facilitate collaborative learning process today, i.e. October 10. The agreement was previously signed in 2007. In a major announcement, the institutes introduced credit transfer opportunities for ICAI students. Both ICAI and IGNOU have recently updated their curriculum in line with the National Education Policy 2020 guidelines.

Credit transfer on course-to-course basis

According to the official statement, under the new agreement, 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”.

“Credit transfers will be facilitated on a course-to-course basis for Foundation, Intermediate and Final level courses,” it said.

The MoU also sets the stage for a broader collaboration, including joint workshops, seminars, continuing education, training programmes, and academic offerings for practicing professionals, corporate executives, faculty members, research scholars, etc. These initiatives will revolve around topical and professional interests, offering a platform for expanding knowledge and skills, the official statement said.

On March 15, 2017, an agreement was signed between the two institutions to “facilitate the collaborative learning process, a student admitted in the first stage of chartered accountancy after passing 10+2 standard examination and entry-level test of the chartered accountancy shall be admitted to special BCom course of IGNOU.”

Over the years, more than 48,000 ICAI students successfully completed the BCom Accountancy and Finance course and more than 8,000 students completed the MCom in 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,” the official statement said.

On the introduction of credit transfer, ICAI vice-president CA Ranjeet Kumar Agarwal said, “ICAI and IGNOU are dedicated to shaping the future of education. The credit transfer initiative is just one example of our commitment to continuous adaptability in a changing educational landscape.”

In addition to this, faculty members of both the institutions will explore the feasibility of mapping courses offered by ICAI and IGNOU. They will also jointly organise workshops, seminars, continuing education, training programmes, and academic offerings for practicing professionals, corporate executives, faculty members, research scholars, etc.

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