To become Associate member of ICAI, passing of Final exam of CA is sufficient by satisfying article ship .The three years period of article is considered as three years of experience and Associate ship is given in ICAI.
But , if you consider ICWAI the associate membership will be given if the candidate passes Final course of ICWAI and possesses three years of responsible experience. Definitely becoming Associate of ICWAI is difficult and worthy compared to three years of articles experience.
If we compare the required three years of experience for Associate Membership in ICAI and ICWAI
(a) In case of Articles of ICAI specific responsibility is not fixed on person (student) , but in case of ICWAI ( the candidate is mostly employee) the three years of experience is in a job where job responsibility is fixed.
(b) most of the times, in ICWAI, the person works and deals in the system of an industry where management practices and finance functionals are present and he learns industry, management and finance practices.
(c ) The article ship experience is an experience gained as a student , i.e. . Normally understanding or working with half or zero knowledge(they are beginners in learning). In case of ICWAI the three years of experience is with in job responsibility . If it is experience as semi qualified or fully qualified, then it is the experience gained with sound subject understanding.
So in case of ICWA , the knowledge gained is more worthy and sound. The depth and scope of learning is more before becoming Associate Member in ICWAI compared to CA.
For better quality in education and knowledge , ICWAI should not think about introducing article ship in its course.
ICAI ALSO SHOULD SERIOUSLY RE-THINK ABOUT ITS ARTICLES AND PROCEDURE OF ASSOCIATE MEMBERSHIP . IT SHOULD EITHER AVOID ARTICLES OR SHOULD FOLLOW THE PRACTICES OF ICWAI FOR ASSOCIATE MEMBERSHIP.
The pass% of CA is more than ICWAI (10-11 times more) . ICWAI Pass % is very less (not number of candidates passing , it is pass%). So the AICWAIs are more valuebles in terms of knowledge and experiance.
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