Now anyone can dream of becoming a Chartered Accountant
Now anyone can dream of becoming a Chartered Accountant.
The Institute of Chartered Accountants of India (ICAI) is planning to allow students
who have studied vocational courses or completed 12 years of basic education to
appear in the Common Proficiency Test (CPT), an entrance exam to pursue Chartered
Accountancy. Currently only those students who have passed Class 12 with
regular academic programmes are eligible to appear in the test.
"We want to expand and give an opportunity to students from various backgrounds.
The council decided to let students who have completed Class 12 in vocational subjects
or some other disciplines take the entrance exam. It will also broaden our base,"
said ICAI president G Ramaswamy.
The council is also planning to exempt graduates and postgraduates from the Commerce
stream who have cleared all exams with 55% aggregate and have studied any three
full papers such as accounting, auditing and business laws from having to appear
in the CPT.
"They will be allowed to commence article training straightaway since they will
have an understanding of the theory," said Ramaswamy.
He added that the objective of the institute is to introduce international rules
and make CAs from India at par with the rest of the world.
Once ICAI receives a nod from the Ministry of Commerce and Industry, which directs
the council, the decisions will be implemented and amendments in the CA regulations
The ministry has also assigned the institute with the task of investor education
and protection fund. The motive is to create awareness amongst the masses towards
investment in the corporate sector.
Courtesy: Hindustan Times