Evaluation Spotlight: Accounting Qualifications in India and their US Equivalencies

By Mai Bui

Park regularly helps attorneys and their clients navigate tricky evaluation cases. Below, we are spotlighting how our top evaluators navigate accounting qualifications in India to determine their potential equivalency to a US bachelor’s degree.

Established by Indian Parliament, the Institute of Chartered Accountants of India (ICAI) is a professional body that regulates the accounting profession. It sets standards for education, examination, and professional practice. To practice as an accountant, you must be a Chartered Accountant by earning membership with ICAI. Membership requires completing a series of regulated examinations and a period of workplace training.

From a credential-evaluation perspective, the most significant milestone is the completion of the Final Examination. In the US, for evaluation practices that follow AACRAO principles, ICAI membership granted following completion of the Final Examination is considered comparable to a US Bachelor’s degree. When evaluating ICAI credentials, the most important criteria is confirming full completion of the program and membership status.

What documents are needed for this evaluation?

Typical documents used in an evaluation include:

1. Final Examination Certificate, certifying that the last stage in the examination series has been completed;
2. ICAI Certificate of Membership, confirming the person is a Chartered Accountant;
3. Every underlying academic degree earned prior to the beginning of the ICAI examinations.

To avoid unnecessary RFEs about ICAI qualifications, Park strongly recommends that all three items above are included for review.

Vocational training or partial completion: When an ICAI qualification is not equivalent to a bachelor’s degree

Because of the scope of ICAI as a governmental body, not every qualification coming out of the Institute qualifies toward an evaluation. Other than the series of examinations leading to membership status, the organization also offers extensive training programs, specialized “pathways to practice,” certificate courses, and general post-qualification professional development. However, none of these programs hold a U.S. academic equivalency.

The second scenario where candidates with ICAI qualifications might be rejected is partial completion of the examination series. Many candidates pass some levels but do not finish the entire sequence. These stages represent progress toward the Chartered Accountant qualification, but do not equate to completion.

How Park can help

We review ICAI documents, confirm whether the Chartered Accountant qualification has been fully completed, and guide clients on how the credential should be presented in an evaluation. In the case of an RFE, Park is also well-positioned to craft specialized letters to assist with the petitions. Have questions about these or other Indian credentials? Reach out to [email protected] today!