New scheme of CA Course..

The Institute of Chartered Accountants of India

(ICAI) has been making continuous efforts to

strengthen Education and Training of the students

as it considers them the backbone of the profession.

The present scheme of Education and Training

in force from October 2001 is based largely on

the recommendations of the Review Committee

(1998). With a view to meeting challenges posed

by information revolution, economic reforms and

globalization combined with international developments,

the Council of the Institute constituted

the High Powered Committee on Review of Education

and Training (CRET) in May 2003 to ensure that

individuals who become professional accountants

achieve an agreed level of competence, which is

then maintained.

The Council accepted the recommendations

made by CRET in respect of new scheme

of education and training for the chartered

accountancy course and consequently

proposed amendments in the Chartered

Accountants Regulations, 1988. We give below

the highlights of the proposed scheme of

Chartered Accountancy Course in terms of

the Draft Chartered Accountants Regulations,

2006 amending the Chartered Accountants

Regulations, 1988.

1.Introduction of Common Proficiency Test

(CPT) in lieu of Professional Examination (PE-I)

2. Register for Common Proficiency Test at

any time after passing 10th Standard.

3.CPT Examination can be taken after appearing

for Senior Secondary (12th )

Standard Examination.

4. Syllabus for CPT will comprise of 4 subjects,

viz., Accountancy, Mercantile Law,

Highlights of Proposed Chartered Accountancy Course*

General Economics, and Quantitative

Aptitude.

5. CPT will be purely of objective type, in

multiple – choice format of 200 marks.

6.Minimum pass percentage for the CPT

would be 50 per cent marks, subject to

the principle of negative marking.

7.CPT will be held every three months,

throughout the country.

8. Examination will be held on single day,

preferably on Sunday, and result will be

declared within 20-25 days.

9 Practical Training of 3½ years

duration concurrent with Professional

Competence Examination (PCE) and Final

Examination

10.Students who have passed Senior Secondary

(12th ) examination and CPT are

eligible to register for Practical training

of 3½ years duration.

11. Students who have passed either erstwhile

Foundation Examination/PE-I Examination

are also eligible to register

for practical training of 3½ years duation.

12.Eligible to appear for PCE on completion

of 18 months of Practical training.

13.Complete Information Technology

Training before appearing for PCE.

14.Undergo General Management & Communication

Skills (GMCS) Course after

    18 months of practical training and

completion of PCE.

15.Eligible to appear for Final Examination

on completion of 3½ years of practical

training and passing of PCE.

* Readers may note that the Draft Chartered Accountants Regulations 2006 have been notified by the Central Government for public

comments. The comments can be sent to the Secretary, The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg,

New Delhi-110002. Complete details have been hosted on the ICAI website www.icai.org.