FAQ

Frequently Asked Questions (FAQs) on Direct Entry to Chartered Accountancy Course:

Who is eligible to register directly for Chartered Accountancy Course without passing Common Proficiency Test (CPT)?

The following categories of students are eligible to register directly for Intermediate (Integrated Professional Competence) Course without passing the Common Proficiency Test (CPT):-

(a) Graduates or Post Graduates from Commerce stream having secured in aggregate a minimum of 55% of the total marks or its equivalent grade or other Graduates or Post Graduates 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).

(b) Candidates who have passed the Intermediate level examination or its equivalent examination by whatever name called conducted by The Institute of Cost Accountants of India or by The Institute of Company Secretaries of India.

Who is considered to be a Commerce stream student?

A student shall be deemed to be of Commerce stream, if he has passd Graduation/ Post Graduation examination 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.

If a Graduate/ Post Graduate student studies subjects which are not considered for awarding grades and only required to pass such examination, whether such subjects/ papers marks shall be considered in calculating the aggregate percentage of marks?

As per the scheme of education in any University, if a student is required to secure only pass marks and for which no special credit is given, such marks shall be ignored while calculating prescribed percentage of marks for determining the prescribed percentage of marks for admission to the chartered accountancy course under Direct Entry scheme.

Will a Graduate/ Post Graduate student who has secured in aggregate a minimum of 54.4% of the total marks in Commerce Stream or 59.4% in other stream be eligible to register under direct entry scheme of chartered accountancy course?

No. As per the rounding off provision, any fraction of half or more shall be rounded up to the next whole number. Accordingly, if a student secures a minimum 54.4% or 59.4% of the total marks in Commerce stream or in other stream respectively shall not be eligible to register under direct entry scheme of chartered accountancy course.

Whether students who are pursuing Graduation Course can register for Intermediate (Integrated Professional Competence) Course?

Yes, students who are pursuing the Final year of Graduation Course are eligible for provisional registration to the Intermediate (Integrated Professional Competence) Course. Such students would be required to submit satisfactory proof of having passed the graduation examination with the specified percentage of marks within six months, from the date of appearance in the final year graduation examination (i.e. from the day of
commencement of the examination). During the period of provisional registration, a student can undergo and complete Information Technology Training (ITT) and Orientation Course. It is clarified that in such cases the practical training shall commence only on becoming a Graduate with specified percentage of marks. Such students shall be eligible for appearing in the Intermediate (Integrated Professional Competence) Examination on completion of nine months of practical training. If such students fail to produce the proof within the aforesaid period, provisional registration shall stand cancelled and the registration and other fees, as the case may be, paid shall not be refunded/ adjusted and
no credit shall also be given for the theoretical education undergone.

When can directly registered student be eligible to join for practical training?

Graduates or Post Graduates from Commerce or other streams, with specified percentage of marks shall be eligible for admission to three years articled training, on completion of:

(a) Information Technology Training; and

(b) Orientation Course

Students who have passed Intermediate level examination of The Institute of Cost Accountants of India or The Institute of Company Secretaries of India shall be eligible for admission to three years articled training on -

(a) Passing of Group I or Both Groups of Intermediate (Integrated Professional Competence) Examination; or Accounting Technician level Examination;

(b) Completion of Information Technology Training; and

(c) Completion of Orientation Course

However, the Council, in order to mitigate the hardships that might be faced by the students registering under Direct Entry Scheme to Chartered Accountancy Course upto 30th September, 2012 has relaxed the requirement of completion of ITT and Orientation Course upto 31st March, 2013, as a one-time dispensation.

Whether a student who registers during August/ September 2012 will be eligible to appear in the May, 2013 Intermediate (IPC) Examination?

As per the requirement of the Regulations, a student registered under Graduate/ Post Graduate scheme can appear in the Intermediate (IPC) Examination on completion of nine months of practical training (including study course for a period of eight months commening from the date of registration to the Course) and student registered for the Intermediate (IPC) Course after passing Intermediate level examination of the Institute of Cost Accountants of India/ the Institute of Company Secretaries of India can appear in the examination after undergoing a study course for a period of eight months commencing from the date of registration to the Course.

However, the Council, in order to mitigate the hardships that might be faced by the students registering 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.

Students registered for the articled training till 30th September, 2012 are required to complete Orientation Course and Information Technology Training (ITT) latest by 31st March, 2013 instead of before registration for practical training.

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”.

Accordingly, students who register under Direct Entry Scheme to Chartered Accountancy Course upto 30th September, 2012 shall be eligible to appear in the Intermediate (IPC) Examination to be held in May, 2013 as per the above decision of the Council, as a one-time dispensation.

Whether students who are registered for Common Proficiency Course (CPC) are also Graduates/ Post Graduates can register for Intermediate (Integrated Professional Competence) Course and commence practical training?

Yes, existing CPT students who have secured either 55% or 60% of the total marks or its equivalent grade in Graduation/ Post Graduation either in Commerce stream or in other streams can commence articled training on converting to Intermediate (IPC) Course by paying the following fees:



Source - ICAI