The Indira Gandhi National Open University (IGNOU) has recently renewed and revamped its Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI) to enhance their academic collaboration.
The official signing ceremony for the MoU occurred in the presence of key figures, including Prof Nageshwar Rao, the Vice Chancellor of IGNOU, CA Aniket Sunil Talati, President of ICAI, distinguished members of ICAI, and faculty members from IGNOU’s School of Management Studies (SOMS). The MoU was formally signed by CA Jai Kumar Batra, Secretary of ICAI, and Dr. Alok Chaube, Registrar of IGNOU.
CA Dayaniwas Sharma, Chairman of BoS at ICAI, expressed his satisfaction with the previous collaboration, which benefited over 48,522 BCOMAF and 8,650 MCOMFT students. He also welcomed the continuation of this academic partnership.
Prof MS Senam Raju, the Director of the School of Management Studies, voiced his approval of the revised MoU. He emphasized the importance of this agreement in light of the National Education Policy (NEP) 2020 and the curriculum and credit framework set by the University Grants Commission (UGC). Prof. Raju also mentioned that similar revised MoUs had been signed with ICSI and ICAI (CMA), expressing gratitude for the Vice Chancellor’s consistent support for such collaborations between academic institutions and industry.
CA Ranjeet Kumar Agarwal, Vice President of ICAI, stressed the crucial role of education in ensuring survival in a competitive world. He highlighted that this MoU would allow ICAI students to broaden their education across various disciplines while maintaining practical knowledge during their articles.
CA Aniket Sunil Talati, President of ICAI, pointed out that the MoU would provide ICAI students with a unique opportunity to pursue academic qualifications without compromising their practical training during articleship. He emphasised that both ICAI and IGNOU would play a vital role in offering students a combination of academic and practical exposure, leveraging the extensive educational reach of both institutions to meet the nation’s expectations.
Prof Nageshwar Rao, Vice-Chancellor of IGNOU, highlighted the university’s global standing as the largest in terms of enrollment, with 35 lakh students currently enrolled and 38 lakh alumni. He also mentioned IGNOU’s international presence in 58 countries with 5,000 enrolled students. Prof. Rao emphasized the shared characteristics between both institutions, such as extensive academic operations, international presence, and large enrollments. He expressed confidence that this renewed MoU would mutually benefit students by offering affordable and flexible learning opportunities.