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What will be the benefit from icwai to icai

CMA_sujeet kumar sahu ( Dy. Manager (F&A)) (145 Points)

14 December 2011

What will be the benefit of changing the name from ICWAI to ICAI.

There may be some benefit but confusion will be more than the benefit.

can any one focus on the benefit of changing the name from ICWAI to ICAI??????????

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4 Replies

Naman (Accountant) (339 Points)
Replied 15 December 2011

Koi benefit ho to batayenge na. Ab jab bhi hum bolenge ki hum ca hai ya ca kar rahe hai, to log puchenge ki kaun wala - financial ya cost?

Devendra Deore (Practice) (41 Points)
Replied 15 December 2011

There is no any benefit, it is a nonsenceness of chartered institute to intervin in the functioning of other sisite institute.

1 Like

Chandranath Banerjee (Cost Accountant & Company Secretary) (235 Points)
Replied 22 December 2011

No benefit CA-Chartered Accountant , remain chartered Accountant & Cost & Manangement remains CMA. Actually CIMA previously was Chartered Institure of Cost & Works Accountant and changed their name as Chartered Institute of Cost & Management Accountant . As in India Cost & Works Accounts Act formed as per fomat of CIMA UK . So indian Cost & Works Accountants wants to change their name as parity with CIMA . But CA institute want to deletion of MANAGEMENT by saying it is generic terms. So management word deleted & they become ICAI- Institute of Cost Accountant of India. There is no fault of Cost Institute .

2 Like

CMA. Rakesh Kataria (Practising Cost Accountant) (531 Points)
Replied 22 December 2011

ICWAI wants to become ICMAI, but due to objection of ICAI, Government made the ICWAI to ICAI.

I think members of the both Institute will not the accept the same

Better to change the name of ICWAI to ICMAI to cope with international requirement

ICAI should supprt the ICMAI name and revise their stand which was taken in 1972 long back.

If ICAI behave like elder sister of ICWAI and help the ICWAI members in installing managment accounting systems in the India than it will be better for India.

CMA Rakesh Kataria