PRESS RELEASE
The Institute of Cost and Works Accountants of India (ICWAI) and Indira Gandhi National Open University (IGNOU) has signed a Memorandum of Understanding (MoU) in a ceremony in New Delhi on 11th July 2008. MoU was signed in the presence of Prof. V.N. Rajasekharan Pillai, Chief Guest and Vice-Chancellor, IGNOU, Mr. Jitesh Khosla, Guest of Honour and Joint Secretary, Ministry of Corporate Affairs, Government of India, Mr. Chandra Wadhwa, President, Mr. Kunal Banerjee, Vice President and other Council Members of ICWAI, Prof. Parvin Sinclair, Pro-Vice Chancellor, IGNOU, ICWAI officials, Professors of IGNOU, Academicians, Professionals, Government officials and other distinguished invitees.
Under this MOU, IGNOU will offer specialized B.Com Course with major in Financial & Cost Accounting and specialized M.Com Course in Management Accounting & Financial Strategies for ICWAI students and Members of the Institute. 10+2 students can take admission in Foundation Course of ICWAI and specialized B.Com course of IGNOU simultaneously. Similarly, Intermediate examination passed students of ICWAI and graduates can pursue Final course of ICWAI and M.Com simultaneously. Common papers studied by a student in ICWAI course will be exempted in the respective specialized course designed by IGNOU exclusively for ICWAI students. These courses will enable students to improve their learning process by acquiring knowledge in new areas rather than concentrating in the same subjects, which are covered in the education scheme of the ICWAI Course.
Both specialized B.Com and M.Com would be offered by IGNOU in Hindi and English. IGNOU will recognize membership of ICWAI for the purpose of pursuing their Ph.D course in Commerce, Management and Law disciplines. IGNOU will also recognize ICWAI as centre for Research in subjects such as Corporate Finance, Management, Financial and Management Accounting.
Shri Chandra Wadhwa, President, ICWAI in his address expressed that Professionals and Academicians have come together, there will be win-win situations for both the institutions.
Shri Jitesh Khosla, Joint Secretary, Ministry of Corporate Affairs, Government of India in his address expressed that after collaboration between two institutions, the qualification of B.Com and M.Com will get due recognition to the professionals not in India but also outside India.
Prof. V.N. Rajasekharan Pillai, Vice-Chancellor, IGNOU in his address expressed that MOU between both the institutions will not only benefit to the ICWAI students but also to members of the Institute enabling them to pursue their Ph.D programme. He further expressed that IGNOU got very good education infrastructure viz. GyanDarshan-I - A satellite based four TV channel, FM Radio network of 25 Gyan Vani etc. the tie up with the Institute result in better harnessing of the resources in professional education available with IGNOU.
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