Qualification

Main article: Indian Chartered Accountancy Course A person is eligible to apply for membership either by passing all three levels of examinations prescribed by ICAI and completing three years of practical training or by availing exemptions under Mutual Recognition Agreements (MRAs) [edit]Examination
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Flowchart on how to became a Chartered Accountant by the Examination route

The Chartered Accountancy course is designed to combine theoretical study with practical training. The Chartered Accountancy course is considered to be one of the rigorous professional courses in India but not difficult if one puts his fullest efforts.
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As of April 2010, the institute has 874,694 students, studying

various levels of the Chartered Accountancy Course.[34] The Chartered Accountancy examinations are divided into three levels. The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations. It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects viz. Fundamentals of Accounting, Mercantile Laws, Economics and Quantitative Aptitude. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12). Every incorrect answer on the CPT exam carries a 0.25 negative mark. The passing grade for CPT is 100 marks out of 200. CPT exams are held in June and December in paper pencil mode. On-line CPT exams are also conducted periodically. IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group - I consists of four subjects and Group - II of three

subjects. A passing grade is awarded if the candidate obtains 40% marks in each subject and 50% in the aggregate in each group. CA Final Examination is the last and final level of Chartered Accountancy Examinations. Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each viz. Financial Reporting, Strategic Financial Management, Advanced Auditing and Professional Ethics, Corporate and Allied Laws, Advanced Management Accounting, Information Systems Control and Audit, Direct Tax Laws and Indirect Tax Laws. A passing grade is awarded if the candidate obtains 40% marks in each subject and 50% in the aggregate in each group. ICAI conducts CPT exams in June and December, IPCC and Final examinations in May and November each year. Examinations are conducted in major cities in India and other countries such as Abu Dhabi (U.A.E.), Dubai (U.A.E.) and Kathmandu (Nepal). ICAI updates content and format of examinations periodically in keeping with technical progress and changes in practice of the profession. The ICAI last revised its training course for membership in 2008.[35]