Direct admission to the Chartered Accountancy Course - Exemption from passing Common Proficiency Test (CPT)

Pursuant to Notification No. 1-CA(7)/145/2012 dated 1stAugust, 2012 published in the Gazette of India notifying amendments made to the Chartered Accountants Regulations, 1988, the following categories of students shall be exempted from passing the Common Proficiency Test (CPT) and such students with effect from 1st August, 2012 shall be eligible for direct admission to the Chartered Accountancy Course. Applicants who fulfil the requirements, as given below, may register for the Intermediate (Integrated Professional Competence) Course by downloading “Registration Form for admission to the Intermediate (Integrated Professional Competence) Course under Direct Entry Scheme” by submitting the filled-in applications to respective Offices of the ICAI as

mentioned in the application form. (Application Form will be available from 17th August, 2012)

1. Direct Entry to Chartered Accountancy Course:

Exempted Categories:

The following categories of students shall be exempted from passing the Common Proficiency Test (CPT):-

(A) Graduates or Post Graduates in Commerce having secured in aggregate a minimum of 55% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting;

OR

Graduates or Post Graduates other than those falling under Commerce stream mentioned above having secured in aggregate a minimum of 60% of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University).

IMPORTANT ANNOUNCEMENT

BoS/Announcement/227/12 (2)                               Date: 16thAugust, 2012

Sub: Relaxation in Eligibility Criteria for students registering upto 30 th September, 2012 under the Direct Entry Scheme – Eligible to appear in Intermediate (Integrated Professional Competence) Examination to be held in May, 2013. The Council, in order to mitigate the hardships being faced by the studentsregistering under Direct Entry Scheme to Chartered Accountancy Course upto 30th September, 2012, has relaxed the eligibility criteria as a one time dispensation, as under, so as to be eligible to appear in the Intermediate (Integrated Professional Competence) Examination to be held in May, 2013.

“The Council has resolved as under -

By virtue of powers vested under Regulation 205 of the Chartered Accountants

Regulations, 1988, the Council of The Institute of Chartered Accountants of India hereby resolves that the eligibility requirement(s), inter alia, for the students registering under the Direct Entry Scheme for the Intermediate (IPC) Course till 30th September, 2012, shall be as under, so as to become eligible to appear in the Intermediate (IPC) Examination to be held in May, 2013:-

 Students registered for the articled training till 30·th

 September, 2012 and have also completed Orientation Course and Information Technology Training (ITT) latest by31st March, 2013.

 Such students shall be eligible to appear in the Intermediate (IPC) Examination ·to be held in May, 2013 by completing 7 months of articled training and study course concurrently, instead of 9 months of articled training and 8 months of study course respectively.

 Students registered for Intermediate (IPC) Course by passing Intermediate level ·examination of The Institute of Cost Accountants of India/  The Institute of Company Secretaries of India shall have to undergo 7 months of study course instead of 8 months as prescribed under Regulations, so as to become eligible to appear in the May, 2013 Examination”.

The eligibility criteria including fee structure for the fresh students registering and existing CPT/ IPCC/ PE-II/ PCC students converting (under the transition scheme), as the case may be, under the Direct Entry Scheme are given below for the information of student.

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