Is CA or ICWA equivalent to master degree?

Neither CA (Chartered Accountant) nor ICWA (now known as CMA - Cost and Management Accountant) are directly equivalent to a master's degree in the sense of being a formally recognized postgraduate academic degree. They are professional qualifications earned through rigorous examinations and practical training.

However, they hold significant professional standing and often provide exemptions or advanced standing in some master's degree programs, especially those related to accounting, finance, and business administration. The knowledge and skills gained are comparable to, and sometimes exceed, that obtained through a master's program in relevant fields. Essentially, they represent a different, but equally rigorous, pathway to high-level professional competence.