06 July 2022
I am Direct entry CA student, completed 1.5 years of articleship. But I couldn't pass any attempts. Now I need to terminate my articleship and join employment since my financial background is no good. If I terminate articleship opting 'Discontinuing CA course' then can I attempt any future exams. Because it says that if I opt that way, all my articleship records will be cleared/ deleted. And I as direct entry student need 9 month articleship for attempting exams. Please help.. Guide me if there is any other way.
12 July 2024
If you are facing difficulties in continuing your articleship due to financial reasons and considering terminating your articleship under the option of 'Discontinuing CA course', here are some important points to consider:
### Impact of Terminating Articleship under 'Discontinuing CA Course':
1. **Clearance of Articleship Records**: Opting for 'Discontinuing CA Course' means that all your articleship records will be cleared or deleted. This includes the termination of your current articleship registration and the erasure of any completed articleship period from your records.
2. **Effect on Exam Eligibility**: - As a Direct Entry CA student, you need to complete at least 9 months of articleship to be eligible to attempt the CA exams. - Terminating articleship under 'Discontinuing CA Course' will reset your articleship record to zero. This means you will need to start a new articleship of at least 9 months to become eligible to attempt the exams again.
3. **Future Exam Attempts**: - After terminating articleship under this option, you can attempt future exams once you fulfill the requirement of completing 9 months of new articleship. You will need to re-register for articleship with a new Principal and complete the required period before applying for exams.
### Considerations and Alternatives:
- **Financial Support**: If financial constraints are the primary reason for terminating articleship, consider discussing your situation with your Principal or seeking financial assistance options that may help you continue your articleship.
- **Consultation with ICAI**: Contact the ICAI helpline or visit your regional office to discuss your specific situation. They can provide guidance on the best course of action based on your circumstances.
- **Seeking Employment**: If joining employment is necessary for your financial stability, explore opportunities that align with your career goals while considering the implications on your CA journey.
### Conclusion:
Terminating articleship under the 'Discontinuing CA Course' option will reset your articleship progress and require you to complete a new period of 9 months before attempting exams again. Evaluate your options carefully and consider seeking advice from ICAI or a professional advisor to make an informed decision about your CA journey.
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