ICAI warns of Misleading advertisements by educational institutes representing as offering admission for chartered accountancy course

All concerned stakeholders and general public are advised not to be swayed by the misleading advertisements/information by some of the colleges/educational institutions/private organizations/institutions which are representing themselves as college of finance/accountancy, offering admission for chartered accountancy course, claiming to enable students to prepare and complete 5 premier courses/programmes in 5 years, and also providing information on their websites and advertisements in the manner as if they are offering professional courses including Chartered Accountancy Course.

All the colleges/educational institutions/private organizations/institutions are hereby advised to discontinue forthwith making such statements/claims and accordingly remove such contents from their website, brochure, information leaflet, etc. It is stated that whenever such instances are brought to the notice of the Institute of Chartered Accountants of India (ICAI), appropriate legal action, in accordance with law, is taken by ICAI.

It is stated that a student of CA Course, during the period of his training as an articled/audit assistant, is not permitted to take any other course of study or training, whether academic or professional, or engage in any business or occupation without prior permission of the Council of ICAI. ICAI may permit a student to pursue only one Course along with CA course simultaneously provided there is no clash of working hours and coaching class hours.

Further, it has come to our notice that certain colleges/educational institutions are portraying themselves that they have been accredited with the ICAI. However, it is informed that neither have they taken permission from ICAI nor ICAI has granted them any accreditation. As regards colleges/educational institutions/organizations/institutions claiming affiliation/partnership with ICAI, it is stated that ICAI is a statutory body set up by an Act of the Parliament and that no college/educational institution/organization is in partnership with ICAI. However, for the purpose of conducting oral coaching classes for CA Course, ICAI has given accreditation to some educational institutions and the details of same appear in website of the Institute at www.icai.org (For CPC : http://www.icai.org/post.html?post_id=6533 For IPCC: http://www.icai.org/post.html?post_id=3924 and For Final : http://www.icai.org/post.html?post_id=6535)

Further, it is informed that students who desire to pursue the Chartered Accountancy Course may visit/contact only the Regional Offices/Branch Offices of ICAI located in their respective places. It may be mentioned that awarding any degree, diploma or certificate or bestowing of any designation which indicate or purports to indicate the position or attainment of any qualification or competence similar to that of a member of the ICAI by any person is punishable offence under the Chartered Accountants Act, 1949.