The student is the ultimate beneficiary in the Memorandum of Understanding (MoU) signed today at Chennai between the second largest accounting body in the world, the Institute of Chartered Accountants of India (ICAI) and the Madras University for furthering of commerce and management education.

The MoU would provide an opportunity for those who have registered for the Chartered Accountancy course to acquire Under Graduate Degree and Post Graduate Degrees, an ICAI release said here today. The MoU was signed by ICAI President G Ramaswamy and University Registrar Dr T Leo Alexander in the presence of Higher Education Department Secretary R Kannan. The MoU aims at providing an opportunity to the members and students of ICAI to enhance their knowledge and skills by offering Graduation and Post-graduation Courses in Commerce and Management.

Recognizing the subjects studied at the entry stage (CPT), Intermediate stage (PCE/IPCE) and Final stage of Chartered Accountancy Course, the University of Madras would launch special professional integrated courses in Bachelor of Commerce(B.Com), Masters in Commerce(M.Com), Bachelor in Business Administration(BBA) and MBA for ICAI students and members. The ICAI and the University of Madras have also agreed to carry out research, leading to award of M.Phil and Ph.D. degrees. Any student who has passed the CA entry level exam course could take admission in either in B.Com or in BBA course.

A student who has passed the Intermediate level of (PCE/IPCE) would be eligible for exemption in seven papers in B.Com and five papers of BBA Course. Similarly, any ICAI student who has passed the CA Intermediate level course would be eligible for admission to M.Com/MBA courses of the University of Madras. The Final pass student of CA course would get exemption in four papers of M.Com and six papers of MBA.