Revised CA Course Scheme of Education and Training – Notification

Revised CA Course Scheme of Education and Training Notification. The revised syllabus for CA Course of ICAI is effective wef 1st July 2017

Revised CA course scheme

Revised Scheme of Education and Training for CA Course wef 1st July, 2017 – Notification

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTIFICATION

New Delhi, the 25th May, 2017

No.1-CA(7)/178/2016.—Whereas certain draft regulations further to amend the Chartered Accountants Regulations, 1988, were published as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949), in the Gazette of India, Extraordinary, Part III, Section 4, dated the 20th December, 2016, inviting objections and suggestions from persons likely to be affected thereby, before the expiry of forty-five days from the date on which the copies of the Gazette containing the said notification were made available to the public;

And, whereas, the said Gazette was made available to the public on the 20th December, 2016;

And, whereas, the objections and suggestions received from the public on the said draft regulations have been considered by the Council of the Institute;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 30 of the said Act, the Council, with the approval of the Central Government, hereby makes the following regulations further to amend the Chartered Accountants Regulations, 1988, namely:-

1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2017.
(2) They shall come into force on the date of their final publication in the Official Gazette.

2. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations), in regulation 2 of the said regulations, in sub-regulation (1), after clause (xvii), the following clause shall be inserted, namely:- ―
(xviii) ―specified‖ means specified by the Council in the official website of the Institute.

3. In regulation 4 of the said regulations, in clause (b), for the words, ―as may be specified‖, the word, ―”approved” shall be substituted.

4. In regulation 22 of the said regulations, after sub-regulation (2), the following proviso shall be inserted, namely:- ― “Provided that any change in the schedule of examination due to any reason, duly approved by the Examination Committee shall be announced through the website of the Institute.”.

5. Regulation 25A of the said regulations shall be omitted.

6. Regulation 25B of the said regulations shall be omitted.

7. In regulation 25C of the said regulations, after sub-regulation (2), the following sub-regulation shall be inserted, namely:- ―

“(3) Notwithstanding anything contained in these regulations, the Council may, after the commencement of registration for the Foundation Course, discontinue registration for the Common Proficiency Course by notice in the website of the Institute.”.

8. In regulation 25D of the said regulations,-

(i) in sub-regulation (3), for the words, ―”as may be specified”, the word, ―”approved” shall be substituted;

(ii) after sub-regulation (3), the following sub-regulation shall be inserted, namely:- ―

“(4) Notwithstanding anything contained in these regulations, the Council may, after the commencement of the Foundation Examination, discontinue holding the Common Proficiency Test and the candidates shall be required to pass the Foundation Examination as per the syllabus approved by the Council from time to time under regulation 25F.”

9. After regulation 25D of the said regulations, the following regulations shall be inserted, namely:- ―

25E. Registration for the Foundation Course.

(1) No candidate shall be registered for the Foundation Course unless he has appeared in the Senior Secondary (10+2) Examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course.

(2) A candidate shall pay such fee, as may be fixed by the Council from time to time, which shall not exceed twenty-five thousand rupees, along with an application in the form approved by the Council for registration to the Foundation Course.

25F. Admission to the Foundation Examination, Fee and Syllabus.

(1) No candidate shall be admitted to the Foundation Examination unless he –
(a) is registered with the Board of Studies of the Institute on or before 30th day of June or 31st day of December for the examination to be held in the months of November or May respectively; and
(b) has passed the Senior Secondary (10+2) examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course.

(2) A candidate for the Foundation examination shall pay such fees, as may be fixed by the Council, which shall in any case not exceed ten thousand rupees.

(3) A candidate for the Foundation examination shall be examined in the syllabus approved by the Council from time to time.”

10. Regulation 28A of the said regulations shall be omitted.

11. Regulation 28B of the said regulations shall be omitted.

12. Regulation 28C of the said regulations shall be omitted.

13. In regulation 28D of the said regulations, –

(i) in sub-regulation (2) – for the second proviso, the following proviso shall be substituted, namely:-

“Provided further that a candidate who was already registered for erstwhile Intermediate or Professional Education (Course-II) or Intermediate (Professional Competence) Course under these regulations shall be eligible for enrolment or conversion to Intermediate (Integrated Professional Competence) Course subject to such conditions as may be specified by the Council.”;

(ii) after sub-regulation (3), the following sub-regulation shall be inserted, namely:- ―

“(4) Notwithstanding anything contained in these regulations, the Council may, after the commencement of registration for the Intermediate Course, discontinue registration for the Intermediate (Integrated Professional Competence) Course by notice in the website of the Institute.”

14. In regulation 28E of the said regulations,-
(i) in the phrase appearing in brackets under the heading, for the words, “as may be specified”, the word, “approved” shall be substituted;
(ii) in sub-regulation (3), for the words, ―”as may be specified”, the word, ―”approved” shall be substituted;
(iii) for sub-regulation (4), the following sub-regulation shall be substituted, namely:- ―

“(4) Notwithstanding anything contained in these regulations, the Council may after the commencement of registration for Intermediate Course, discontinue holding the Intermediate (Integrated Professional Competence) Examination and require the candidates to pass the Intermediate Examination as per the syllabus approved by the Council from time to time under regulation 28G.”

15. After regulation 28E of the said regulations, the following regulations shall be inserted, namely:-

28F. Registration for Intermediate Course and Fees. –

(1) The study course for the chartered accountancy candidates shall be named as Intermediate Course, which shall be composed of three levels viz. Group I, Accounting Technician (optional) and Group II. A candidate may opt for enrolment to (i) Group I or (ii) Group I and Accounting Technician or (iii) Accounting Technician and Group II or (iv) Group I and Group II or (v) for all the levels referred to above in this regulation.

(2) A candidate for registration for Intermediate Course shall pay such fees as may be fixed by the Council which shall not exceed twenty-five thousand rupees along with his application in the form as may be approved by the Council.

(3) No candidate shall be registered for the Intermediate Course unless he has passed the Foundation Examination.

(4) Notwithstanding anything contained in sub-regulation (3), a graduate or post graduate within the meaning of clause (ix) of regulation 2 shall be eligible for registration to Intermediate Course, if such person is a –

(a) graduate or post graduate in commerce having secured in aggregate a minimum of fifty five per cent. of the total marks or its equivalent grade in the examination conducted by any recognised university (including Open University) by studying any three papers each carrying a minimum of fifty marks in a semester or year and cumulatively hundred or more marks over the entire duration of the concerned course, out of the subjects i.e., 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 or similar to the title of these papers with different nomenclatures, as approved by the Board of Studies of the Institute; or

(b) graduate or post graduate other than those referred to in clause (a), having secured in aggregate a minimum of sixty per cent. of the total marks or its equivalent grade in the examination conducted by any recognised university (including Open University).

Explanation—For the purpose of this sub-regulation –

(i) for calculating the percentage of marks, the marks secured in subjects in which a person is required by the University (including Open University) to obtain only pass marks and for which no special credit is given for higher marks, shall be ignored; and

(ii) any fraction of half or more shall be rounded up to the next whole number.

(5) Notwithstanding anything contained in sub-regulation (3), a candidate who is pursuing the final year of graduation course shall be eligible for provisional registration to the Intermediate Course which shall be confirmed only on submission of satisfactory proof of having passed the graduation examination with the minimum marks as provided in sub-regulation (4) of this regulation within such period not exceeding six months as may be decided by the Council, from the date of appearance in the final year graduation examination:

Provided that if such candidate fails to produce the proof within the aforesaid period, his provisional registration shall be cancelled and for the purpose of these regulations –
(i) no credit shall be given for the theoretical education undergone; and
(ii) the Council may permit refund of such amount of registration and tuition fee, as may be decided by it from time to time

(6) A candidate who has passed the Intermediate examination conducted by the Institute of Cost Accountants of India set up under the Cost and Works Accountants Act, 1959 (23 of 1959) or by the Institute of Company Secretaries of India set up under the Company Secretaries Act, 1980 (56 of 1980) shall also be eligible for registration to Intermediate Course:

Provided that a candidate who has passed the Entrance or erstwhile Foundation or Professional Education (Examination – I) or Common Proficiency Test under these regulations shall be eligible for registration to Intermediate Course subject to compliance with other provisions of these regulations and such other conditions as may be specified by the Council:

28G. Admission to the Intermediate Examination, Fees and Syllabus. –

(1) No candidate shall be admitted to the Intermediate Examination unless he is registered with the Board of Studies of the Institute and produces a certificate to the effect that he has undergone a study course for such period and in such manner as may be specified by the Council from time to time as on the first day of the month in which the examination is held:

Provided that a candidate who is registered for the Intermediate Course under sub-regulation (3) of regulation 28F shall be eligible for admission to the Intermediate examination after completion of nine months of practical training under regulation 50 on the first day of the month in which examination is held:

(2) Notwithstanding anything contained in sub-regulation (1), a candidate who was registered for the erstwhile Intermediate or Professional Education (Course–II) or Intermediate (Professional Competence) Course or the Intermediate (Integrated Professional Competence) Course shall be eligible for admission to the Intermediate Examination on such conditions as may be specified by the Council and subject to compliance with other provisions of these regulations.

(3) A candidate for the Intermediate examination shall pay such fees, as may be fixed by the Council from time to time, which shall not exceed ten thousand rupees.

(4) A candidate for the Intermediate Examination, shall be examined as per the syllabus approved by the Council from time to time.”

16. For regulation 29 of the said regulations, the following regulation shall be substituted, namely:- ―

29. Registration for Final Course and fees.

(1) A candidate who has passed the Intermediate examination under these regulations shall be required to register for the Final course:

Provided that a candidate who has passed the erstwhile Intermediate Examination or Professional Education (Examination-II) or Intermediate (Professional Competence) Examination or the Intermediate (Integrated Professional Competence) Examination held under these regulations but has not registered for Final Course on the date of coming into force of these regulations shall be eligible for registration to the Final Course subject to compliance with other provisions of these regulations:

Provided further that a candidate who is already registered for Final Course under these regulations shall be eligible for registration or conversion to Final Course subject to such conditions as may be specified by the Council.

(2) A candidate for registration to the Final Course shall pay such fee as may be fixed by the Council from time to time which shall not exceed forty thousand rupees along with an application in the Form approved by the Council.”

17. Regulation 29A of the said regulations shall be omitted.

18. In regulation 29B of the said regulations,-

(i) in the phrase appearing in brackets under the heading, for the words, “as may be specified”, the word, “approved” shall be substituted.

(ii) for sub-regulation (2), the following sub-regulation shall be substituted, namely:-

(2) Notwithstanding anything contained in sub-regulation (1), a candidate who has passed the Professional Education (Examination-II) or the Professional Competence Examination or the Intermediate (Professional Competence) Examination or the erstwhile Intermediate Examination under these regulations or the Intermediate Examination under the Chartered Accountants Regulations, 1964 or the Intermediate or the First Examination under the Chartered Accountants Regulations, 1949 (enforced at the relevant time) or was exempted from passing the First Examination under those regulations shall be admitted to the Final examination provided he has completed the practical training as required for admission as a member on or before the last day of the month preceding the month in which the examination is held or has been serving the last six months of practical training.”.

19. In regulation 29C of the said regulations,-

(i) in the phrase appearing in brackets under the heading, for the words, “as may be specified”, the word, “approved” shall be substituted;

(ii) in sub-regulation (1), for the proviso, the following proviso shall be substituted, namely:- ―

“Provided that a candidate who has passed Professional Education (Examination-II) and has completed the practical training as required for admission as a member on or before the last day of the month preceding the month in which the examination is held or has been serving the last twelve months of practical training including excess leave, if any, on the first day of the month in which the examination is held and has completed the study course and Advanced Course on Information Technology Training referred to in clause (iii) and (iv) or such other Course by whatever name called, shall be admitted to the Final Examination.”;

(iii) for sub-regulation (2), the following sub-regulation shall be substituted, namely:-

“(2) Notwithstanding anything contained in sub-regulation (1), a candidate who has passed the Professional Competence Examination or Integrated Professional Competence Examination or Intermediate (Integrated Professional Competence) Examination under the syllabus approved by the Council under sub-regulation (3) of regulation 28E or the erstwhile Intermediate Examination or Intermediate Examination under the Chartered Accountants Regulations, 1964 or the Intermediate or the first examination under the Chartered Accountants Regulations, 1949, or was exempted from passing the first examination under those regulations shall be admitted to the Final examination provided that he has completed the practical training required for admission as a member on or before the last day of the month preceding the month in which the examination is held or has been serving the last six months of practical training including excess leave, if any on the first day of the month in which the examination is held and has completed the aforesaid study course and Advanced Course on Information Technology Training or such other Course by whatever name called.”;

(iv) in Explanation to sub-regulation (2),-

(a) for the words “one-sixth”, the words “one-seventh” shall be substituted;

(b) for the words and figures, ―maximum of 180 days‖, the words and figures ―maximum of 156 days‖ shall be substituted.

20. After regulation 29C of the said regulations, the following regulation shall be inserted, namely:-

29D. Admission to Final Examination.

[Applicable to candidates appearing in Final Examination under the syllabus approved by the Council under clauses (ii), (iii) and (iv) of regulation 31]

(1) No candidate shall be admitted to the Final Examination unless he –

(i) is registered for the Final Course and has passed the Intermediate Examination held under these regulations; and
(ii) has completed the practical training as required for admission as a member on or before the last day of the month preceding the month in which the examination is held or has been serving the last six months of practical training, including excess leave, if any, under regulation 50 on the first day of the month in which the examination is held; and
(iii) has successfully completed advanced Integrated Course on Information Technology and Soft Skills; and
(iv) has complied with such other requirements in such manner as may be specified by the Council from time to time.

(2) Notwithstanding anything contained in sub-regulation (1), a candidate who has passed the Professional Education (Examination –II) or the Professional Competence Examination or the Integrated Professional Competence Examination or the Intermediate (Professional Competence) Examination or Intermediate (Integrated Professional Competence) Examination or the erstwhile Intermediate Examination held under these Regulations or Intermediate Examination under the Chartered Accountants Regulations, 1964 or the Intermediate or the first examination under the Chartered Accountants Regulations, 1949, or was exempted from passing the first examination under those regulations shall be admitted to the Final examination provided that he has completed the practical training as required for admission as a member or has been serving the last six months of practical training, including excess leave, if any, under regulation 50 on the first day of the month in which the examination is held and has complied with other provisions of these regulations.

Explanation. – A candidate who has been admitted to the Final Examination before coming into force of these regulations shall be required to complete the Advanced Integrated Course on Information Technology and Soft Skills under regulation 51E, for becoming eligible for admission to Final Examination.”.

21. In regulation 30 of the said regulations, for the words, “from time to time”, the words, “from time to time which shall not exceed ten thousand rupees shall be substituted”.

22. In regulation 31 of the said regulations,-
(i) clause (i) shall be omitted;
(ii) in clause (ii) and (iii), for the word, “specified”, the word, “approved” shall be substituted;
(iii) after clause (iii), the following clause shall be inserted, namely:-
“(iv) as per the syllabus approved by the Council from time to time after commencement of enrolment to Intermediate Course under regulation 28F.”.

23. In regulation 32 of the said regulations, for the words, ―an examination shall be made in the form approved by the Council‖, the words, ―an examination shall be made online electronically or in the form approved by the Council‖ shall be substituted

24. For regulation 35 of the said regulations, the following regulation shall be substituted, namely:-

35. Candidates to be provided with Admit Card.

An admit card stating the place, dates and time at which the candidate may present himself for an examination shall be made available online electronically to each candidate not less than fourteen days before the commencement of the examination.”

25. Regulation 36 of the said regulations shall be omitted.

26. After regulation 36A of the said regulations, the following regulation shall be inserted, namely:-

36B. Requirement for passing the Foundation Examination

(1) A candidate for the Foundation Examination shall ordinarily be declared to have passed the examination if he obtains at one sitting a minimum of forty per cent. marks in each paper and a minimum of fifty per cent. marks in the aggregate of all the papers.
(2) The Council may adopt the criteria of negative marking in a paper or papers having objective type questions in such manner as may be specified by it from time to time.”.

………

……….

37D. Requirements for passing the Intermediate Examination

38D. Requirements for passing the Final Examination

42. Examiners

45. Admission to Articleship

51D. Integrated Course on Information Technology and Soft Skills.

51E. Advanced Integrated Course on Information Technology and Soft Skills

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