ICAI to Team Up with CBSE, Launches Study Material on Financial Independence – News18

In a significant step towards fostering financial education and career awareness, the Institute of Chartered Accountants of India (ICAI) is set to establish a collaborative partnership with the Central Board of Secondary Education (CBSE). Announced by Aniket S Talati, the President of ICAI, during a press conference on January 22, the Memorandum of Understanding (MoU) between ICAI and CBSE is scheduled to be signed next month on February 8.

According to reports, this special collaboration is aimed towards introducing career counselling initiatives in CBSE-affiliated schools, making students aware of the Chartered Accountancy course and many other related professional opportunities.

As part of this initiative, ICAI will develop comprehensive content, to be a part of the course, including modules and videos, specially customised as per the requirements and strengths of students in the schools affiliated to the CBSE board.

This crucial announcement took place at the ICAI’s National Education Summit on Commerce & Accountancy (NES-CA), a two-day event taking place on January 22 and 23 in New Delhi.

At the inaugural session of NES-CA , ICAI launched a specialised study material titled Aarambh: A Step Towards Financial Independence. This educational resource is designed to empower students with financial resilience and enhance their decision-making capabilities. The study material encompasses modules covering fundamental aspects of financial planning, banking and credit, understanding financial statements, basics of taxation, investment planning, and retirement planning.

In addition to the collaboration with CBSE, ICAI is also set to sign Memorandums of Understanding (MoUs) with 11 universities during the NES-CA event. This collaboration entails extending support to universities and colleges in various capacities, including the development of Commerce syllabi, content creation, online and recorded lectures, and many other faculty development programmes.

On the occasion of the announcement, Professor Deepak Kumar Srivastava commended the ICAI for its important role in promoting financial transparency, accountability, and good governance.

Emphasising the need for a skilled workforce aligned with global job market requirements, he also specially mentioned the University Grants Commission’s (UGC) efforts to integrate skilling into higher education. UGC recently issued guidelines to incorporate short-term, industry-relevant courses (certificate courses) in Higher Educational Institutes (HEIs) to address the existing skill gap.

Srivastava stressed on the importance of creating an environment for professionals who possess excellent skills to meet the demands of the ever-evolving global landscape. “We need to prepare an ecosystem among accounting professionals who are equipped with multiple skills matching with the requirements of the global job market,” he reportedly said.