25 September 2012
Recently ICAI has introduced a lateral entry system wherein IPCC students who has passed their graduation but has not cleared Group I can convert into direct entry system and stat articleship.
The Institute has not issued any clarification for the IPCC Student who has valid/ unexpired exemption obtained in any paper of the IPCC for carried forward under the new lateral system for the remaining unexpired chances of exemption.
Such exemption is allowed to PCC student and was clarified in Point 22 under FAQ on direct entry issued on 24th August 2012 by ICAI. However FAQ is silent on the IPCC students.
I have taken up matter with ICAI on the extending same to the IPCC students who has exemption in any paper for the remaining unexpired chances. However, ICAI has not issued any clarification. Request all the IPCC students having exemption in any papers to take up with ICAI for getting exemption extended for the remaining unexpired chances for their benefit.
When clarification is expected.. ICAI has forgotten to address this issue when FAQ was issued on 24th August 2012.
I have written several emails to President and other concerned, however, so far they have not issued any clarification on this..
30th September is last date for conversion of IPCC students into new direct entry scheme and the students are completely in dark as to what will happen to their exemption..
CAclubindia
