CHARTERED ACCOUNTANCY

• The Chartered Accountancy Course is a professional course in Accounting introduced in our country in 1949, with the enactment of the Chartered Accountants Act, 1949. The Institute of Chartered Accountants of India was set up in that year as a statutory body to regulate the profession of chartered accountants. Under the Act, the Institute is both an examining and a licensing body. The responsibilities of conducting the Chartered Accountancy Course are also vested with the Institute. This course involves a blend of

CHARTERED ACCOUNTANCY
• theoretical education and practical training and equips a student with knowledge, ability, skills and other qualities required of a professional accountant. On successful completion of the course, the student becomes entitled to apply for membership of the Institute which would in turn entitle him to use the professional description of "Chartered Accountant" and start his public practice as a chartered accountant after complying with the rules in this regard. At his option, instead of starting the public practice, he can take up an employment that requires the knowledge and expertise of a professional accountant.

CHARTERED ACCOUNTANCY
• In 1992, the Institute introduced the Foundation Course. A candidate who has passed the 10+2 Examination is eligible to take up the Foundation Course. The duration of the course is 10 months. After passing the Foundation examination, a candidate may take up C.A. Course without being an "eligible" graduate. • From October 2001, a person can join CA course either after 10+2 examination by registering for PE I Course of 10 months duration or after graduation with specified

CHARTERED ACCOUNTANCY
• percentage or marks by registering for PE II course of 10 months duration. Those not having specified percentage of marks in graduation examination, shall be registered for PE I course only. • The practical training for the students of the Chartered Accountancy course involves working in the office of a Chartered Accountant in practice or a firm of such Chartered Accountants for the specified period. A part of the training can also be taken in certain approved business or

CHARTERED ACCOUNTANCY
• industrial enterprises. There are two types of training opportunities available to a student of the course: as an articled clerk or as an audit clerk. Articled clerk is a trainee attached to a Chartered Accountant in practice under a deed of articles for the duration of the training of 3 years, he/she may often find it difficult to bide the long period of waiting involved in gaining entry into the profession. They have perforce to work their way up in life and may not be able to afford to work without adequate

CHARTERED ACCOUNTANCY
• remuneration for a period of three years which articleship involves. It is for such promising young persons, amongst the regular paid staff of practising chartered accountants, that the system of audit clerkship has been evolved; it gives them a chance to work their way up in the profession. A longer period of training namely, 4 years, is therefore prescribed in this case.

Admission - Professional Education (Course-I)
• Eligibility Requirements • Candidates who have passed the Senior Secondary Examination (10+2) or equivalent recognised examination. • No restrictions with regard to the age of the candidate or marks secured in Senior Secondary Examination or subjects studied. • Graduates/Post graduates who have secured less than specified marks as given below...

Admission - Professional Education (Course-I)
• (a) Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial Law as full examination papers and with less than 50% marks of the total marks. (For this purpose ’full examination paper’ means a paper carrying not less than 50 marks). (b) Non-commerce graduates with Mathematics as one of the subjects and with less than 60% of the total marks.

Admission - Professional Education (Course-I)
• (c) Non-commerce graduates with subjects other than Mathematics and with less than 55% of the total marks. • For the purposes of (b) and (c) above, if the marks allotted to the subject of Mathematics involving one or more papers in the syllabus for the concerned course is less than 10% of the total marks in the examination, the candidate will be deemed to be a non-commerce graduate without Mathematics. In such cases, if he has secured at least 55% marks in the aggregate in his graduation examination, he will be entitled to exemption from PE (Course-I).

Admission - Professional Education (Course-I)
• Cut-off Dates for Registration • The registration for Professional Education (Course-I) is open throughout the year. A student may register at any time during the year. However, as the examinations will be held twice a year in May and November, it is necessary that a student must register at least ten months before the examinations.

Admission - Professional Education (Course-I)
• Thus, the cut-off dates for registration will be as follows... • For May Examination: 30th June of the preceding year • For November Examination: 31st December of the preceding year

Professional Education (Course-II)
• Eligibility Requirements
• Candidates who have passed the Professional Education (Examination-I) Candidates who have passed the CA Foundation Examination under CA Regulations, 1988 Candidates who have passed graduation satisfying the following conditions... • a. Commerce graduates with Accountancy, Auditing and Mercantile Law or Commercial Law as full papers and with a minimum 50% marks of the total marks. (For this purpose ’full paper’ means a paper carrying not less than 50 marks).

Professional Education (Course-II)
• b. Non-commerce graduates with Mathematics as one of the subjects and with minimum 60% of the total marks.

c. Non-commerce graduates with subjects other than Mathematics and with minimum 55% of the total marks. d. Candidates who have passed the Final Examination conducted by the Institute of Cost & Works Accountants of India (ICWAI) or the Institute of Company Secretaries of India (ICSI).

Professional Education (Course-II)
• Students who join the PE-II Course after passing CA Foundation Examination may also register as articled clerks upto 31st December, 2003. Such Candidates will have to register and appear for PE-II Examination during the training period subject to other conditions and will be allowed to appear for the Final Examination after completion of 30 months of practical training.

Admission to Final Course and Training
• After passing the Professional Education (Examination -II), candidates are eligible for registration as articled clerks/Audit Clerks for practical training and for admission to the Final course of the Chartered Accountancy. The Articled Clerk is a trainee attached to a practising Chartered Accountant under a Deed of Articles for the duration of the training, namely, three years. An Audit clerk is a person who has served as a salaried employee for a minimum period of one year

Admission to Final Course and Training
• under a Practising chartered Accountant or a firm of Chartered Accountants in practices, on a monthly remuneration not below Rs. 1,500 per month in cities with a population of one million and above and Rs. 1,000 p.m. in other places. Such a person is provided with an opportunity of becoming a Chartered Accountant by registering himself as an Audit Clerk for practical training under the concerned Chartered Accountant or the firm of Chartered Accountants in practice wherein the Chartered Accountant is a partner. A slightly longer period of training, namely, 4 years, is prescribed in such a case.

Admission to Final Course and Training
• The Chartered Accountancy Course thus involves unique a blend of compulsory theoretical education and practical training which run concurrently for a period of three years. Theoretical knowledge is sought to be integrated and reinforced with practical training. • Eligiblity for admission to articleship • i. is not less than 18 years of age on the date of commencement of articleship. ii. has passed the Professional Education (Examination -II), and

Admission to Final Course and Training
• iii. has successfully completed computer training programme as specified by the Council.
(In addition, a candidate who has passed the Foundation examination will also be eligible for registration as an articled/audit clerk till a specified date (31st December, 2003). All such students will be required to pass Professional Education (Examination –II) during the practical training and will be entitled to appear in the Final Examination during last six months of practical training subject to other conditions. )

ADDRESS FOR COMMUNICATION
• INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA; P.O.BOX: 7100; INDRAPRASTHA MARG NEW DELHI-110002

• EASTRERN INDIAN REGIONAL COUNCIL OF THE ICWAI, ICWAI BHAWAN, 84 HARISAH ROAD, KOLKATA-700025 • ICWAI, 315 SRIMANTA MARKET, A.T. ROAD , GUWAHATI (ASSAM)

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